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Match the program to your medical career
An eligible income-contributing medical professional must have the required degree and be in active practice. The option shown here includes MD, DO, DDS, DMD, PharmD, DVM/VMD and DPM borrowers; CRNAs with a DNAP or DNP; and nurse practitioners with an MSN or DNP. Qualifying residents, fellows and interns may also be eligible. Professors and directors need active clinical duties in their role.
Tell me your degree, whether you are in training or established practice, and whether you are salaried, employed under a contract or self-employed. These details determine which documentation path deserves a closer look. We can then compare it with conventional and other eligible financing.
How the zero-down tiers work
One primary-home option allows up to 100% financing with a score of at least 680 for loan amounts up to $1.5 million. A separate tier allows up to 100% financing through $2 million with a score of at least 720. Both require a full income, property and reserve review.
These are different tiers, not interchangeable maximums. The $2 million zero-down tier requires the higher score. A separate 95% financing option may reach $2 million at 680, subject to its own underwriting conditions. The table preserves the distinctions.
Plan for costs even without mortgage insurance
This physician option does not require mortgage insurance. That can be a useful feature, but it does not mean the lowest total borrowing cost in every comparison. Review the interest-rate structure, fees, payment and planned ownership period alongside other eligible options.
Closing costs, prepaid items and required reserves still apply. If you are relocating or changing jobs, include moving expenses and the gap before your first paycheck in your own budget. The amount a lender requires you to retain may differ from the personal cushion you want.
Using a future employment contract
An eligible fully signed employment contract may support qualification before a new job begins. This option uses fixed base income, with the start date no more than 150 days after the note date and compensation covering at least 12 months. Family employment is not eligible for this projected-income route. Permitted contingencies are limited to medical licensing and routine administrative checks.
Provide the complete contract and any amendments through our secure document process. Reserves must also cover each month until the job starts, with partial months rounded up, in addition to other applicable reserve requirements. An unsigned offer or projected bonus should not be assumed to qualify.
Student loans need a specific calculation
A medical degree does not make student debt disappear from underwriting. Bring current loan statements, payment information and any applicable repayment documentation. How the debt is treated depends on the borrower’s status and the selected program.
One exception applies to a qualifying current resident or medical clinical fellow using current training income, when the student loans are deferred, in forbearance or on a documented $0 income-based repayment plan. It does not apply when qualification uses projected future employment income. I can help identify the appropriate calculation before a purchase budget depends on it.
Review the home and your longer-term plans
The physician options described here apply to an eligible one-unit primary residence. The property, appraisal and any condominium review still matter. A second home, rental property or cash-out request requires a different program review.
Consider how long you expect to stay, whether training or employment could take you elsewhere and how much flexibility you want in your savings. I can compare eligible loan choices using the same price and timing so the tradeoffs are easier to see.
Options and eligibility to compare
Compare the option that fits your credit, loan amount, property and documentation. Each has its own requirements, and the full application must qualify.
Zero-down tier through $1.5 million
Credit and underwriting: 680 or higher; maximum total debt-to-income ratio 45% when financing exceeds 95%. Manual underwriting applies.
Financing and amount: Up to 100% financing through $1.5 million.
Income and property: An eligible income-contributing medical professional meeting the degree and active-practice rules above; one-unit primary purchase or rate-and-term refinance. No cash-out. Income, credit history and property approval required.
Benefits and conditions: No mortgage insurance or subordinate financing. Above 95% financing, at least three months of reserves through $1.5 million. Employment-gap and additional-property reserves can add to this. Fixed-rate minimum loan $100,000; adjustable-rate minimum $350,000. Financing must exceed 90%; required escrows apply unless prohibited. Closing costs remain.
Zero-down tier through $2 million
Credit and underwriting: 720 or higher; maximum total debt-to-income ratio 45% when financing exceeds 95%. Manual underwriting applies.
Financing and amount: Up to 100% financing through $2 million.
Income and property: An eligible income-contributing medical professional meeting the degree and active-practice rules above; one-unit primary purchase or rate-and-term refinance. No cash-out. Income, credit history and property approval required.
Benefits and conditions: No mortgage insurance or subordinate financing. Above 95% financing, reserves are at least three months through $1.5 million and six months from $1,500,001 through $2 million. Employment-gap and additional-property reserves can add to this. Fixed-rate minimum $100,000; adjustable-rate minimum $350,000. Financing must exceed 90%; required escrows apply unless prohibited.
Five percent down tier through $2 million
Credit and underwriting: 680 or higher. Maximum total debt-to-income ratio 50% at 90.01%–95% financing; adjustable-rate and certain fixed-rate structures are limited to 45%. Manual underwriting applies.
Financing and amount: Up to 95% financing through $2 million.
Income and property: An eligible income-contributing medical professional meeting the degree and active-practice rules above; one-unit primary purchase or rate-and-term refinance. No cash-out. Income, credit history and property approval required.
Benefits and conditions: No mortgage insurance or subordinate financing. At 90.01%–95% financing, no base reserves through $1.5 million and three months from $1,500,001 through $2 million. Employment-gap and additional-property reserves can still apply. Fixed-rate minimum $100,000; adjustable-rate minimum $350,000; required escrows apply unless prohibited.
Compare the alternatives
Compare a conventional loan at the same price, including mortgage insurance and cash needed.
Compare a standard jumbo option when the amount is above conforming limits.
What to gather for a useful conversation
Professional degree and license information
Residency or fellowship status if relevant
Executed employment contract and amendments
Current income and student-loan statements
Assets for closing and required reserves
Frequently asked questions
Are residents and fellows eligible?
Qualifying MD and DO residents and fellows may be eligible. Training status, documented income, degree and the complete program requirements still need review.
Can every healthcare professional use this option?
No. The option includes specified physician, dental, pharmacy, veterinary, podiatry, advanced-practice nursing and training designations. The exact degree, active-practice role and income contribution must meet the program requirements.
Does zero down mean no reserves?
No. Closing costs and documented funds remaining after closing may still be required. Employment timing and the selected option affect that review.
Are all student loans excluded?
No. Any exception is program-specific and depends on the borrower’s circumstances. A resident or fellow using current income can be treated differently from an applicant using projected income.
Can a physician loan fund an investment property?
The options shown here are for an eligible one-unit primary home. Investment-property financing is a separate review.
Related mortgage learning
How Lenders Document Variable Income
Lender Credits vs. Financed Costs: What Changes the Real Cash Needed?
Related articles
How Much Cash Do You Need to Buy a Home?
Authoritative resources
CFPB guide to planning your homebuying budget
Read the CFPB Loan Estimate explainer
Talk through your Ohio mortgage options
Call or text Gordon Hinchen at (440) 975-6216. Start with your plans and general questions. Use our secure application process for financial documents.
Educational information only. Not a commitment to lend or a guarantee of approval. Eligibility, availability and terms depend on the complete application, property and underwriting review. DRG Mortgage, LLC | NMLS #2657603 | Gordon Hinchen | NMLS #2751302 | Ohio residential mortgage brokerage services only | Equal Housing Opportunity.