Physician Loans in Texas. Your Degree is Your Down Payment.
Specialty mortgage programs designed for licensed medical professionals. Low or no down payment, student loan exclusions, and loan amounts up to $2 million. Built for the financial reality of medicine.
A medical professional mortgage is a specialty loan program designed to address the unique financial situation of licensed healthcare providers. Medical professionals face a specific challenge: they typically graduate with substantial student loan debt, have high earning potential but limited savings at the start of their career, and need to purchase a home often at the same time they are beginning a residency or new attending position.
Standard loan programs penalize medical professionals for their student debt and require large down payments they have not yet had time to save. Medical professional programs eliminate both barriers. Student loans are excluded from the debt-to-income calculation or counted at the income-based repayment amount, and down payments as low as 0-5% are available on loan amounts up to $2 million or more. Kris works with multiple wholesale lenders offering medical professional programs to find the best terms for your specialty and stage of career.
Who Qualifies?
MD, DO, DDS, DMD, PharmD, NP, PA, DVM, OD, or other licensed medical professional
Residents and fellows with a signed employment contract accepted
New attendings within first 10 years of practice for most programs
Credit score of 700 or higher (some programs at 680+)
Primary residence only for most programs
Licensed and practicing in Texas or relocating to Texas
Pros and Cons
Advantages
0-5% down payment on loan amounts up to $2M+
Student loans excluded from DTI or counted at IBR payment
Available for residents and fellows using offer letter
No PMI on most programs regardless of down payment
Higher loan limits than conventional
Competitive rates through wholesale physician lenders
Limited to first 10 years post-training for some programs
Rates slightly above conventional for no-down options
Fewer lender options than conventional, making broker access valuable
Frequently Asked Questions
A physician mortgage loan is a specialty program for licensed medical professionals that offers low or no down payment, excludes student loan debt from DTI calculations, and provides higher loan amounts than conventional programs, all without PMI in most cases. It is designed to address the specific financial challenges of medical professionals early in their careers.
Eligible professions typically include MDs, DOs, dentists (DMD/DDS), pharmacists (PharmD), nurse practitioners (NP), physician assistants (PA), veterinarians (DVM), and optometrists (OD). Some programs extend to chiropractors, podiatrists, and other licensed healthcare providers. Kris can confirm eligibility for your specific designation.
Yes. Many physician loan programs accept residents and fellows using a signed employment contract or offer letter as income documentation, even before starting the position. This allows physicians to purchase a home during or at the end of residency without waiting for their first attending paycheck.
Most physician loan programs either exclude student loans entirely from the debt-to-income calculation or use the income-based repayment (IBR) amount rather than the full standard payment. For a physician with $400,000 in student debt, this difference can be the deciding factor between qualifying and not qualifying.
Most physician loan programs do not require private mortgage insurance (PMI) regardless of the down payment amount. This is a significant advantage over conventional loans, which require PMI for down payments below 20%.
Most physician loan programs offer loan amounts up to $1 million to $2 million depending on the lender and borrower profile. Some programs go even higher for strong credit profiles. Kris can identify which lenders offer the highest limits for your situation.
