Glossary

Short definitions for physician mortgage language. Terms we own link to pages on this site; terms owned by siblings link out with a reader reason.

Terms

Physician loan

A mortgage program category aimed at medical doctors, often with flexible down payment and student-debt treatment. Specific terms vary by lender and change over time. Read more

Doctor loan

Common name for physician mortgage programs offered to MDs and DOs. Read more

Dentist loan

Mortgage programs marketed to DDS and DMD borrowers, sometimes with training-contract flexibility similar to physician loans. Read more

Resident loan

Financing while in graduate medical education, where employment is documented through a training contract rather than long W-2 history. Read more

Debt-to-income (DTI)

Total monthly debt payments divided by gross monthly income. Lenders use it to gauge payment capacity. Mortgage payment tools

Student loan exclusion

Some physician programs may omit student loans from DTI calculations. This is lender-specific and must be confirmed for your file. Read more

Training contract

Employment agreement for residency or fellowship used to document future income when W-2 history is short. Read more

Buy before you sell

Purchasing a new home before closing the sale of your current one, often requiring a bridge or contingent strategy. Life-change financing

Non-QM mortgage

Loans outside standard agency guidelines. Some physicians who do not fit physician programs explore non-QM paths. Non-QM mortgage answers

Pre-approval

A lender's review of your documents producing a letter stating an amount you may borrow, subject to conditions. Start application