Buying a home as a doctor can be complicated. Between student loan debt, delayed income, and limited savings during training, traditional mortgage rules don’t always work. That’s where The Federal Savings Bank comes in. Their physician mortgage loan program is designed to make homeownership more accessible for medical professionals—especially early in their careers.
With no PMI, up to 100% financing, and underwriting that accounts for your future income (not just your current salary), The Federal Savings Bank helps you get into a home sooner—with less financial stress.
About The Federal Savings Bank
The Federal Savings Bank is a veteran-owned, federally chartered bank headquartered in Chicago, Illinois. Founded with a mission to make homeownership more accessible, the bank operates in all 50 states and specializes in personalized mortgage lending. While they serve a broad range of borrowers, they’ve developed a strong reputation for helping professionals—especially those in healthcare—navigate the homebuying process with flexible options and expert guidance. Their physician mortgage program is a direct reflection of that focus.
The Federal Savings Bank Physician Mortgage Highlights
Who Qualifies: The program is open to a wide range of healthcare professionals, including:
- MD, DO
- DDS, DMD, DPM
- PharmD, OD, CRNA, PA, NP
- Residents and fellows with a signed contract
Whether you’re still in training or already practicing, The Federal Savings Bank understands the financial timeline physicians are on—and they’ve built a mortgage program to match it.
Loan Features at a Glance:
- Up to 100% financing for loans up to $1 million (no down payment required)
- Financing available up to $2 million with a down payment
- No private mortgage insurance (PMI), regardless of down payment size
- Fixed and adjustable-rate mortgage options
- Deferred student loans are often excluded from debt-to-income ratios
- Use a signed employment contract to close up to 90 days before you start your new job
- Minimum credit score: 720 required for eligibility
- Nationwide availability—offered in all 50 states
This is a true physician-focused loan: it’s built to accommodate your future potential, not penalize you for the years you’ve spent in training.
Physician Mortgage Calculator
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Pros and Cons
What Makes It Stand Out:
- 100% financing available, which means no down payment for qualified borrowers
- No PMI—saving you hundreds per month compared to conventional loans
- Designed for physicians, dentists, and other healthcare professionals
- Flexible underwriting for student debt
- Can qualify before your job starts, with just a signed contract
- Available nationwide through a federally chartered bank
Things to Consider:
- A 720 minimum credit score is required—so it’s not ideal for buyers with weaker credit
- Loan terms, rates, and down payment requirements may vary depending on location and loan size
- Larger loans ($1M+) may require a 5-10% down payment
- Not all loan officers are equally experienced with physician loans—working with someone who knows the program inside and out can make a big difference
The Federal Savings Bank Physician Mortgage Alternatives
The Federal Savings Bank is one of the few lenders offering 100% financing with no PMI and nationwide reach. That alone makes it worth a look. But when you factor in their experience with physician clients and their flexible guidelines on student loans, it’s even more competitive.
Here’s how it stacks up to other lenders offering doctor home loans:
Huntington Bank: Huntington Bank has a larger footprint than TD and offers physician mortgages to veterinarians, as well as physicians and dentists. They also provide up to 100% financing of up to $1 million, 95% up to $1.25 million, and 90% up to $2 million. Like TD Bank, physician loans apply only to primary residences.
Learn More: Huntington Bank Physician Loan Review
TD Bank: TD Bank’s doctor mortgage is a popular choice among LeverageRx readers. The bank provides 100% financing up to $750k for both residents in training and attendings. The mortgage is for primary residents only. Learn More: TD Bank Physician Mortgage Review
BMO Bank: U.S. Bank is a national lender in all 50 states, but their doctor loan program is only available for MDs and DOs. If you have one of those degrees, then you can get 90% financing up to $1.25MM. Learn More: BMO Physician Loan Review
Every lender has its strengths. The Federal Savings Bank stands out for physicians with strong credit who want to avoid PMI, close before their job starts, and work with a lender who understands their financial journey.
Key Takeaways
Physician mortgage loans aren’t one-size-fits-all—but The Federal Savings Bank comes close. With no PMI, the option to finance 100%, and underwriting that works with your student debt and job timeline, it’s a strong contender if you’re a doctor buying a home. The key is qualifying. If your credit score is at or above 720 and you’re ready to buy—or just comparing options—this program is worth exploring. To get started, request your physician mortgage rates from LeverageRx.
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