The fastest way
to get a physician
mortgage.

Finding a physician mortgage depends on your location, medical specialty and career status. LeverageRx narrows down your options to connect you with loan officers from eligible lenders only.

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  • Great Experience!

    I had a wonderful experience working with Rhett. He was patient, informative, quick to answer my questions and made sure everything was prepared carefully. I would highly recommend his service.

    - Janna
  • Very helpful and prompt

    He helped me fill out the forms needed and walked me through the application process. Trustworthy and efficient. I’d recommend him to any friends or family.

    - Sam W.

Lenders on LeverageRx

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Step One

#1 Tell us about you.

In order to know which lenders you are eligible for, we need to know more about you.

We’ll ask you where you are buying a home, what your degree is in, how much you want to borrow and what you plan to put down (if anything at all!)

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Step Two

#2. We show you lenders.

Based on your information, our technology will show you which lenders you are eligible for.

Since no two doctor home loan programs are the same, this step saves you a headache (and time!)

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Step Three

#3. Talk to a loan officer!

You select lenders you’re interested in and provide contact information so a pre-vetted loan officer can be in touch.

The loan officer will be able to provide you current rate information, answer your questions and pre-approve you for a physician mortgage.

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Why Get a Physician Mortgage?

Young doctors tend to have limited savings, no work history and high levels of debt. These things count against you when applying for a conventional mortgage. However, the earning potential and job security of a young doctor is excellent, so the physician mortgage was born.

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Conventional Mortgage

  • Private mortgage insurance (PMI) required
  • Debt-to-income ratio should be less than 36%
  • Requires proof of income
  • Down payment required
  • Interest rates dependent on credit score
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Why Do We Have Physician Mortgages?

When a bank issues a mortgage, they sell that mortgage on the secondary market to make money. The buyers are usually Fannie Mae and Freddie Mac. Before 2008, the government wasn’t strict about what a bank had on its balance sheet. If a bank had $100 million in customer deposits, they were allowed lend out most those deposits in the form of mortgages and sell them on the secondary market.

When that got us into trouble in the 2008 housing crisis, the government tightened regulations and required banks maintain a higher level of reserves (customer deposits). This meant banks needed to keep more mortgages on their balance sheet so the question became: Which customers’ mortgages do we want to keep? Logically, they chose customers who were high net worth, low risk and steadily employed. Medical professionals fit that description to a tee!

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Who Qualifies for Physician Mortgages?

Young doctors tend to have limited savings, no work history and high levels of debt. These things count against you when applying for a conventional mortgage. However, the earning potential and job security of a young doctor is excellent, so the physician mortgage was born.

  • Medical Doctors (MD)
  • Doctors of Osteopathy (DO)
  • Doctors of Dental Medicine (DMD)
  • Doctors of Dental Surgery (DDS)
  • Optometrist (OD)
  • Podiatrist (DPM)
  • Veterinarian (DPM)
  • Chiropractor (DCH)
  • Nurse Practitioner (NP)
  • Certified Registered Nurse Anesthetist (CRNA)
  • PharmD
  • Registered Pharmacist (RpH)
  • Physician Assistant (PA)
  • Doctor of Osteopathic Medicine (DO)
  • Nurses (RN)
Get up to speed

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Find the Best Physician Mortgage for You

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