Doctor loan programs
Doctor loans are mortgage programs aimed at physicians — typically MDs and DOs in training or early attending practice. They often relax conventional hurdles such as large down payments and strict student-debt counting, but every lender sets its own rules. This page explains how the category generally works so you know what to prepare; it is not a quote from any specific lender.
What questions should I ask about a lender's physician-loan program instead of assuming all programs are identical?
Ask whether your degree and property location qualify, how your employment contract and start date are documented, and which student-loan payment will count. Request the quoted rate, fees, down payment and reserve requirements together. Program labels do not settle those terms; use the lender’s written answers when comparing your own scenarios.
How doctor loans generally differ from conventional
| Topic | Doctor loan (typical) | Conventional (typical) |
|---|---|---|
| Down payment | May allow lower down payment without PMI in some cases | Often requires larger down payment or PMI below 20% |
| Student debt | May exclude or use alternative payment in DTI | Usually counts full student loan payment |
| Employment | Training contract or offer letter may suffice | Typically wants W-2 history |
| Pricing | Lender-specific — use your own assumptions in tools | Market-driven — use your own assumptions in tools |
What to gather before pre-approval
- Government ID and Social Security number for all borrowers.
- Training contract, fellowship letter, or attending employment offer.
- Recent pay stubs if you already have W-2 income.
- Student loan statements showing monthly payment and balance.
- Asset statements for down payment and reserves.
- If relocating, a written timeline for any home you still own elsewhere.
Student debt — qualitative, not a lender promise
Medical school debt is often the largest line item on a physician's credit report. Conventional underwriting usually includes the full payment in debt-to-income. Some doctor loan programs may exclude student loans from DTI or use an income-driven repayment figure instead. That treatment is lender-specific and can change. Use our student debt DTI tool with your own numbers to see both scenarios, then confirm with a loan officer.
When a conventional loan may still win
Attendings with strong reserves, low student debt, and a large down payment sometimes find conventional pricing more attractive. The only way to know for your file is to compare using the same home price, down payment, and rate assumptions — enter yours in the comparison calculator. We never declare a winner without your inputs.
Related paths on this site
- Resident and fellow loans — still in training
- Attending first purchase — after training
- Student debt and home buying
Keep a single folder — digital or paper — with each document in the checklist below. Lenders often request the same items twice during underwriting; having them ready prevents delays that have nothing to do with your qualifications.
Frequently asked questions
- Who typically qualifies for a doctor loan?
- Programs are generally aimed at medical doctors in training or early practice. Eligible specialties and employment types vary by lender — confirm yours before applying.
- Do doctor loans require private mortgage insurance?
- Some physician programs allow lower down payments without PMI that conventional loans would require at the same down payment level. The tradeoff may be a different rate or fee structure — compare using your own assumptions in our tools.
- Are doctor loan rates higher than conventional?
- Pricing depends on the lender, your file, and market conditions. This site does not publish rates. Enter your own rate assumptions in the comparison tool to see payment differences.
Talk through your scenario
Buying as an MD or DO? Tell us your stage and we will follow up on physician loan preparation.
Start my applicationDoctor loan document checklist
Gather these before pre-approval for an MD or DO physician loan file.
Core file
- Purchase contract or accepted offer when under contract
- Training or employment contract with start date and base compensation
- Student loan documentation with monthly payments
- Asset statements covering down payment and post-closing reserves
Comparison prep
- Rate and down payment quotes for both physician and conventional paths
- Completed doctor-loan-vs-conventional tool permalink
- List of other monthly debts (auto, cards, other mortgages)