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

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

northpointe mortgage doctor loan

Loan Amounts for Residents, Fellows, & Practicing $750k (0% down) / $1.0MM (5% down)
$2.0MM (20% down)

Minimum Credit Score 700 ($750k) / 720 ($1.0MM) / 740 ($2.0MM)

Available in 16 states

Current Physician Mortgage Loan Rates

Here’s our weekly mortgage market update for the week beginning July 16, 2017

Average 30 year mortgage rate tops 4 percent
physician loans image

For the first time in two months, the average rate on a 30-year fixed-rate mortgage is over 4 percent, according to the July 13 Freddie Mac Primary Mortgage Market Survey.

Both 30-year and 15-year fixed mortgage rates have increased each of the past two weeks, according to Freddie Mac. The rate on a 30-year has risen during that period from 3.88 percent to this week’s 4.03 percent, while the 15-year rate has climbed from 3.17 percent to 3.29 percent. A year ago, the rates for 30-year and 15-year fixed mortgages were 3.42 percent and 2.72 percent, respectively.

The average rate on a 5-year Treasury-indexed adjustable rate mortgage (ARM) has risen by about the same amount during that span, going from 3.17 percent during the week of June 30 to 3.28 percent this past week.

Mortgage rates tend to move in roughly the same pattern as Treasury yields. Mortgage rates typically remain higher than Treasury yields because they are a riskier investment. Thus, as Treasuries rise or fall, so do mortgage rates.

During the last week of June, a large sell-off in 10-year Treasuries led to yields recording one of the highest weekly gains in four months. Analysts say the recent increase in mortgage rates have because they have finally caught up to the recent Treasury yield gains.

But Treasury yields have been in decline since then, which could push mortgage rates back down.

A decline in Treasury yields during the Fourth of July holiday week was followed by a considerable drop the next week that was attributed to congressional testimony by Federal Reserve Chairwoman Janet Yellen.

Treasury yields usually rise when the Federal Reserve raises short-term interest rates; however, analysts interpreted Yellen’s remarks as being neutral on the near-term prospect of raising rates.

 

Recent articles about Doctor Loans and Physician Mortgages

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

Should doctors buy a house in training?

There are a host of arguments for and against buying a house as a resident: • You don’t have much money now, but you will in a few years • It’s better than throwing away money on rent, except when the market tanks • You have to live somewhere, but that somewhere may...

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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.