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What is a Physician Loan?

The physician loan (or doctor loan) is designed specifically for residents and practicing physicians that would like to take advantage of a little or no money down. In addition, deferred student loans are not calculated in your debt-to-income ratios.


Who Qualifies for Physician Mortgage Financing


- Doctors of Optometry (OD)
- Doctors of Ophthalmology (MD)
- Doctors of Podiatric Medicine (DPM)
- Doctor of Osteopathy (DO)

- Doctors of Dental Science (DDS)

- Doctors of Dental Medicine (DMD)


Other programs are available for other Physicians. Call an expert at the Mortgage Solutions TEAM at 801-716-5246 to find out more.


Frequently Asked Questions

Q: Can I re-finance with a physician loan?
A: Yes. This has recently changed, and we're pleased to say one of our lending partners offers doctor loan re-fi's. This is available in many states, but unfortunately not in all of them. Contact Us to determine if your state is eligible.

Q: Are doctor loans still available in all 50 states?
A: Unfortunately, they are not, and the eligible states change from time to time. Please fill out our short contact form, and we will determine if you qualify under the doctor loan program.

Q: What is the Doctor Loan Realtor Referral Program?
A: If you are relocating to a new hospital or practice anywhere in the United States, we can make your move easier by referring you to a highly trained real estate agent that specializes in Physician relocation Real Estate. As part of a no obligation consultation, this agent will listen to your needs while being personable, friendly and extremely knowledgeable about the area you are relocating to and its surrounding neighborhoods.


Q: Do I have to be a U.S. Citizen or permanent resident to qualify?
A: Yes, most (if not all) doctor loan programs require you to be a U.S. citizen or permanent resident to qualify.

Q: Can I get the doctor loan as an M4 before I start residency?
A: It is possible, but you will have to provide your signed residency contract before you close. You will usually receive your contract 3-4 weeks after match day. You must also have enough funds to cover the mortgage payments until you start receiving income from residency. This may differ among various lenders, so it is always recommended you ask your loan officer before making plans.

Q: My student loans are deferred. Wouldn't conventional mortgage financing programs overlook this debt in my debt-to-income ratios?
A: No. If you were to quit your residency at any time with deferred student loans still pending, those loans would become active again, thus normal mortgage programs would count this as current, active debt. The doctor loan is the only loan program that allows lenders to forfeit this debt.

Q: How do student loans affect my ability to get a mortgage?
A: With traditional, conforming mortgage loans, your student loans are calculated into your debt-to-income ratio. With the doctor loan, they do not affect the ratios.

Q: As a resident, how much money can I borrow?
A: This is a difficult question, as it depends on many different factors. Most residents in the U.S. earn between $40,000 - $50,000, depending on the state in which they are practicing and how long they have been in their residency program (ex. PGY-3). If you have other debt such as credit cards, car loans or other unsecured debt, it will affect how much you are able to borrow.

Also, if you have a co-borrower/signer with bad credit, you probably won't qualify for the same amount if you were the sole borrower.

Q: What does my FICO score need to be for the doctor loan?
A: While there is no magic number, your score probably does need to be at least 700, and 720 to get the absolute best terms.

Q:How can I increase my credit score?
A: Please read our guide, "Raise your Credit and Remove Erroneous Items"

Q: What are my loan options?
A: There are many options available - 30 year fixed, 15 year fixed, 5/1 ARM, etc. Most of the regular loan terms are offered with the doctor loan as well. Please contact us for more information.

Q: What types of properties are eligible for the doctor loan?
A: Single family homes, townhomes, and condominiums. Please ask your Mortgage Professional for the most current property types before making a decision to buy.

Q: Because this is such a unique program, will I be overcharged on
interest rates & fees?

A: Absolutely not. In addition to High Loan to Value, the doctor loan has very favorable interest rates and the fees are comparable or better than most conventional mortgage programs.

Q: Aren't there other loans out there with better terms?
A: As of right now, the doctor loan is basically the ONLY conventional mortgage loan available that requires little to no down payment. That, in itself is probably the biggest draw, in addition to the fact that deferred student loans don't count towards debt-to-income ratios.

Q: What is a declining market?
A: A declining market is an area in the country that is determined to be declining by the automatic underwriting systems used by Freddie Mac and Fannie Mae. This is a new regulation, instated January 9, 2008. These areas may require additional down payment to qualify for the doctor loan.

Q: How will a lender contact me?
A: Usually the first form of communication is via email. Our Mortgage Experts are very sensitive to your busy schedule and will go out of their way to accommodate you. If you prefer email only, please tell your Mortgage Professionals and he will call only when absolutely necessary.

Q: Will my information or email address be shared or sold to other companies?
A: Absolutely not. We do not publish, list or sell your private information to anyone other than the sole lender you are matched with. For more information, see our privacy and security policy.

Please note: This FAQ is not meant to be a comprehensive list of all doctor loan program guidelines and is not legal advice. Mortgage programs may change without notice, so please consult with your individual loan officer when you have any specific questions.

Physician Mortgage Loan / Dr. Loan Program


Mortgage Solutions TEAM
at Christian Roberts Mortgage
512 E. Winchester
Murray, Ut 84107
Ph 801.716.5246
Alt 801.716.5251