What is it?
A doctor loan — also called a physician loan — is a specialized mortgage designed for medical professionals. Lenders know that doctors graduate with heavy student debt but have strong earning potential. So they offer favorable terms: low or no down payment, no private mortgage insurance, and they often exclude student loans from your debt-to-income calculation.
Good fit when...
- Medical doctors (MD, DO), dentists (DDS, DMD), optometrists (OD), and other licensed medical professionals
- New attendings or residents who have not yet saved a large down payment
- Physicians with high student loan balances that would otherwise disqualify them
- Buyers who want to avoid PMI without putting down 20%
- High earners who want to preserve cash for investments or practice buildout
Probably not the right fit if...
- Non-medical professionals — this loan is restricted to qualifying healthcare fields
- Buyers with poor credit — doctors still need solid credit scores to qualify
- Investment property purchases — typically limited to primary residences
- Anyone who would qualify for a conventional loan at better terms
Not sure if this is the right loan for you?
Take the loan finder quiz or book a free call. I will look at your full picture and tell you exactly what makes sense.