Physician Mortgage Options for Relocation
This page explains how physician mortgage programs are typically structured for residents, fellows, and attendings relocating — including contract-based approvals, student loan treatment, and timing before your first paycheck.
Learn how physician mortgage programs typically work (contract‑based approvals, student‑loan treatment, low down payment options, and often no monthly PMI).
“I didn’t think I could close before my first paycheck. Using my signed contract worked.”
— Internal Medicine, CA- Qualified with signed employment contract (no first pay stub yet)
- No PMI with low down payment; physician program overlays applied
- Closed ~3 weeks after contract; moved in before orientation
“Monthly payment mattered most. Dropping PMI made the numbers work.”
— Pediatrics Fellow, NY- Used fellowship contract; student loans documented per program rules
- Won offer with short appraisal contingency; no monthly PMI
- Total payment beat conventional despite rate optics
“Appraisal came in a bit low. We reworked credits and still closed before I started.”
— Anesthesiology Resident, TX- Pre-underwritten with contract-only income
- Seller credit covered most variance after low appraisal
- Closed ~1 week later than target; still before start date
Representative scenarios; not a commitment to lend. Eligibility, terms, and timelines vary by profile and state. Equal Housing Opportunity.
Home Financing, Simplified for Physicians.
Step 1
Complete the 60‑Second Form
Tell us where you're headed and your role. No credit pull, no pressure.
Step 2
Ask a Specialist — Optional
If you want, you can request an introduction to a physician‑mortgage specialist licensed in your state — no pressure or obligation.
Step 3
Ask Questions or Start the Process
Explore your options, ask questions, or begin the process — only when you're ready.
Why Doctors Choose Physician Loans
There are five unique features designed specifically for your career stage.
- 💰 0–10% Down Payment
Start your home journey with little to no money down. - 📅 Close Before Your First Paycheck
Use your signed contract to close up to 90 days before starting work. - 🎓 Student Loan Friendly
Most programs don’t count med school debt against you. - 🛡️
No monthly private mortgage insurance required on many options. - 🏡 High Loan Limits
Qualify for up to $2M+ depending on your state and income.
What do the banks get out of this?
- ✓ Rates/fees can be slightly higher than a conventional loan with 20% down — you trade cash up front for speed and flexibility.
- ✓ Relationship banking: some lenders want you to open a checking or savings account.
- ✓ Low default risk: physicians are strong long‑term customers with rising income.
- ✓ Cross‑sell potential over time (mortgage now, wealth/credit later).
Who qualifies
Physician home loans are designed for medical professionals with unique training timelines and student‑debt profiles. Lenders evaluate future earning potential and employment contracts, not just current pay stubs.
Key advantages: student loans often receive favorable treatment, low or no down payment options are available, and many programs don’t require PMI.
Exact eligibility varies by lender and state. If you want, you can request an intro and hear from one specialist (no spam).
Discover The Perfect Physician Loan For You
Ask a SpecialistAsk a Specialist — Optional
If you want, we can introduce you to one physician‑mortgage specialist licensed in your state so you can ask questions and understand your options.
- Contract‑only approval experience
- No‑PMI and low‑down options
- Understands student loans & residency timelines
- No spam — one expert, only if you want to talk
Specialists are NMLS‑registered (where applicable) and Equal Housing compliant.