Doctor loan vs conventional
Enter your own home price, down payment percentages, and rate assumptions for each path. The tool calculates monthly payment, cash to close, and a simple debt-to-income ratio using your income and debt inputs. Share the URL to save your scenario — nothing here is a lender quote.
How can I save and share the exact assumptions in my physician-loan comparison?
After calculating, copy the displayed Permalink below the result. It records the comparison values the tool used, including both rates and down payments; invalid entries may fall back to defaults. Bookmark or share that link to reopen those values. It is not a quote or approval, and a separate application may not import them.
How should I interpret a lower monthly payment alongside a higher cash-to-close requirement?
A lower monthly payment can require more down payment upfront. Read both payment and down-payment differences together, then consider the cash you need to retain. This tool’s cash-to-close figure is down payment only; taxes, insurance, PMI, closing costs and credits are outside its comparison. A planning label does not resolve that cash tradeoff.
Result
| Metric | Physician path | Conventional path |
|---|---|---|
| Loan amount | $617,500 | $520,000 |
| Down payment | $32,500 | $130,000 |
| DTI (with housing) | 37.6% | 37.4% |
Close — see what would change this.
A small change in the inputs can flip this result. Adjust the inputs above, or start with the next step below.
Reading the comparison table
Monthly payment difference ignores taxes and insurance — add those to your housing budget separately. Cash-to-close difference reflects down payment only, not seller credits or closing costs. DTI uses the housing payment from this calculator plus the debts you entered; lender overlays may add other thresholds.
When physician path shows higher payment
A lower down payment on the physician side increases loan amount even when the rate is similar. A higher rate quote on the physician side can outweigh down payment flexibility. Enter the actual quotes you receive rather than guessing one path is always cheaper.
About this tool
- Where do the rates come from?
- You enter them. This tool does not pull live market data.
- Does a lower physician down payment always win?
- Not necessarily — a smaller down payment can mean a larger loan and higher payment. Compare both columns with assumptions your loan officer provides.
Save my doctor vs conventional comparison
Print or save this list before your first lender conversation. Every item is qualitative — confirm specifics with your loan officer.
Identity and employment
- Government-issued ID for all borrowers
- Training contract, fellowship letter, or signed attending offer
- Most recent pay stubs once payroll begins
- Medical or dental license verification if requested
Student loans
- Statements showing balance and monthly payment for each loan
- Income-driven repayment approval letter if on IDR
- Note whether your target lender may exclude loans from DTI (confirm in writing)
Assets and timeline
- Two months of asset statements for down payment and reserves
- Written timeline if you still own a home in another state
- Permalink from our comparison or DTI tools with your assumptions