Compare Doctor Loans and Mortgages for Physicians and Dentists

Physicians, dentists and other eligible medical professionals have access to some exclusive financial products given the unique financial situation of many in the profession. One of these products are physician mortgages, also known as doctor loans, which require little to no money down and no personal mortgage insurance (PMI) to secure a jumbo mortgage loan. Many regional and national banks have departments dedicated to serving medical professionals and doctor loans - check out the comparisons below on some of the lenders that offer mortgages exclusively for physicians, dentists and other medical professionals.

 

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Compare Doctor Loans and Mortgages for Physicians and Dentists

Check out these lenders that offer low down payment, no PMI mortgage loan programs for physicians, dentists and other medical professionals

ufcu mortgage doctor loan

Loan Amounts For Residents & Fellows $424k (0% down) / $1MM (5% down) / $1.5MM (10% down)

Loan Amounts For Practicing Physicians $424k (0% down) / $1MM (5% down) / $1.5MM (10% down)

Minimum Credit Score Not Available

Only Available in Texas

suntrust mortgage doctor loan

Loan Amounts For Residents & Fellows $750k (0% down)

Loan Amounts For Practicing Physicians $750k (0% down) / $1MM (5% down) / $1.5MM (10.01% down)

Minimum Credit Score Not Available

Available in 13 states

flagstar physician loans

Loan Amounts $850k (0% down) / $1MM (5% down) / $1.5MM (10% down)

Minimum Credit Score Not Available

Available in all 50 states

cadence mortgage doctor loan

Loan Amounts for Training & Early Practice $1MM (0% down)

Loan Amounts For Practicing Doctors $1MM (0% down) / $2MM (10% down)

Minimum Credit Score 720

Available in 3 states

fifth third mortgage doctor loan

Loan Amounts for Residents & Fellows $500k (0% down) / $1MM (5% down)

Loan Amounts For Practicing Physicians $650k (0% down) / $1.5MM (15% down)

Minimum Credit Score 680 (5% down) / 700 (0% down)

Available in 12 states

citizens bank mortgage doctor loan

Loan Amounts for Doctors in Training $850k (5% down)

Loan Amounts For Practicing Doctors $850k (5% down)

Minimum Credit Score Not Available

Available in 20 states

bbva mortgage doctor loan

Loan Amounts for Residents & Fellows $1MM (5% down) / $1.25MM (10% down)

Loan Amounts For Practicing Physicians $1MM (5% down) / $1.25MM (10% down)
$1.5MM (15% down) / $1.75MM (20% down)

Minimum Credit Score Not Available

Available in 9 states

fulton mortgage doctor loan

Loan Amounts for Residents & Fellows $1.5MM (0% down)

Loan Amounts For Practicing Physicians $1.5MM (0% down)

Minimum Credit Score 700 (0% down)

Available in 6 states

horizon mortgage doctor loan

Loan Amounts for Physicians, Dentists & Optometrists $750k (0% down) / $1.5MM (tiered down)

Minimum Credit Score Not Available

Available in 3 states

us bank mortgage doctor loan

Loan Amounts for Physicians $1MM (10% down) / $1.5MM (15% down) / $2MM (20% down) / $3MM (30% down)

Minimum Credit Score 710

Available in 48 states

huntington bank mortgage doctor loan

Loan Amounts for Residents & Fellows $600k (0% down)

Loan Amounts for Practicing Physicians $850k (5% down) / $1.0MM (11% down)

Minimum Credit Score Not Available

Available in 8 states

regions bank mortgage doctor loan

Loan Amounts for Residents & Fellows $650k (0% down) / $750k (5% down)

Loan Amounts for Practicing Physicians $650k (0% down) / $750k (5% down)

Minimum Credit Score 700 (up to $417k) / 720 ($418k+)

Available in 15 states

mortgage doctor loan

Loan Amounts for Primary Homes Up to $2.0 million (10% down)

Loan Amounts for Secondary Homes Up to $2.5 million (25% down)

Minimum Credit Score 660 to 720 (depending on down payment)

Available in all 50 states

banksnb mortgage doctor loan

Loan Amounts for Residents, Fellows, & Practicing $417k (0% down) / $1.25MM (5% down)
$1.75M (10% down) / $2.25MM (15% down) / $3M (20% down)

Minimum Credit Score 720 (0% down) / 700 (5% down)

Available in 4 states

Current Physician Mortgage Loan Rates

Here’s our weekly mortgage market update for the week beginning August 13, 2017

30-year mortgage rates decline; 15-year rates hold steadyphysician loans image

The combination of weak inflation data and threats between the U.S. and North Korea caused investors to buy up U.S. Treasuries last week. When that happens, Treasury yields decline, and that typically results in lower mortgage rates.

According to the August 10 Freddie Mac Primary Mortgage Market Survey, the average rate on a 30-year fixed mortgage stayed below 4 percent for the fourth week in a row while rates on 15-year loans held steady.

The average rate on a 30-year fixed mortgage was 3.90 percent, down slightly from 3.93 average the week before. After briefly rising above 4 percent in mid July, 30-year rates have been below that mark ever since. At this time last year, the average 30-year fixed rate was 3.45 percent.

Rates on 15-year fixed mortgages averaged 3.18 percent for the second week in a row. A year ago, the rate averaged 2.76 percent.

The average rate on 5-year Treasury-indexed adjustable rate mortgages (ARM) was 3.14 percent, a slight decrease from the previous week’s 3.15 percent, but up from 2.74 percent the year prior.

All three mortgage categories carried an average of 0.5 points for the week. Mortgage points, also known as discount points, are fees a borrower pays to the lender at closing in exchange for a reduced interest rate. A point costs 1 percent of the amount borrowed, i.e. $1,000 for every $100,000 of your mortgage.

Recent articles about Doctor Loans and Physician Mortgages

Trying to learn more about these doctor mortgage loans? Check out these recent articles!

15-year vs 30-year mortgage loan, which is better?

Whether you’ve just completed your residency or been in practice for several years, if you’re in the market for a home, you may instantly gravitate to a 30-year mortgage. Doing so enables doctors to stretch out a very large debt over the maximum number of years, which...

read more

Physician Mortgage Loan & Doctor Loan FAQs

Physician mortgage loans, also known as doctor loans, are different than traditional mortgages in that they are exclusively offered to medical professionals and require little to no money down and no personal mortgage insurance (PMI). Lenders are willing to offer these products early in a physician's career as they know that the possibility of default is relatively low among medical professionals.
Physicians and dentists can obtain physician mortgage loans and doctor loans in the following states: Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming
Interest rates for physician loans vary by lender but are typically higher than what you would see from a conventional mortgage with a higher down payment. However, physician loans don't require PMI whereas conventional mortgages with a down payment less than 20% will require you to obtain PMI.