We offer several medical professional loan options. We'll match you with the one that fits your profession, your timeline, and the home you want.
How these loans help medical professionals
- Buy before you start your new job. Qualify using your signed employment contract or offer letter. In many cases, you can close up to about five months before your start date, as long as you have savings to cover your payments until your first paycheck.
- Student loans in deferment can be left out. If you're a resident or fellow qualifying with your residency or fellowship income, student loans in deferment, forbearance, or a $0 income-driven repayment plan may be left out of your debt-to-income ratio.
- Residents and fellows welcome. Your housing allowance may count as income when it's paid directly to you.
- New contractors and 1099 physicians. Even with less than a year of 1099 history, you may qualify using the minimum guaranteed pay in your contract.
- Practice owners. Some options need as little as one year of personal and business tax returns.
- Low down payment options, including higher loan amounts for higher-priced homes.
- Flexible ways to buy, including purchases from a relative or your current landlord with some options.
Who it's for
At least one borrower must hold one of these degrees or licenses and qualify using income from that profession:
- Medical Doctor (MD)
- Doctor of Osteopathic Medicine (DO)
- Doctor of Dental Surgery or Dental Science (DDS)
- Doctor of Dental Medicine (DMD)
- Ophthalmologist (MD or DO)
- Doctor of Optometry (OD)
- Doctor of Pharmacy (PharmD)
- Psychiatrist (MD or DO)
- Doctor of Veterinary Medicine (DVM or VMD)
- Doctor of Podiatric Medicine (DPM)
- Certified Registered Nurse Anesthetist (CRNA)
- Physician Assistant (PA)
- Nurse Practitioner (NP)
- Registered Nurse (RN)
- Clinical Nurse Specialist (CNS)
- Doctor of Chiropractic (DC)
- Medical residents, fellows, and interns with one of the degrees above
Not every option is available for every profession. We'll show you which options fit yours.
What you can use it for
- Buying a home to live in
- Refinancing your current mortgage to change your rate or term
- Second homes with select options
- Single-family homes, townhomes, and approved condos. Some options also allow 2-4 unit homes you live in.
What you'll need when you apply
You don't need any documents to talk with us. Call or schedule a time, and we'll walk you through your options. When you're ready to apply, you'll need:
- Signed employment contract or offer letter, if you're new to the position (showing your title, start date, and pay)
- Your degree, license, or credential
- Recent student loan statements
- Standard income and asset documents
- Proof of savings to cover payments until your start date, if you'll close before you start
- Practice owners: business documentation for self-employed income
Good to know
- Purchase and rate-and-term refinance only. These loans can't be used for a cash-out refinance.
- Not for investment properties.
- Credit. You'll need at least one credit score and an on-time housing payment history for the past 12 months.
- Condos must be in an approved project. Manufactured homes, co-ops, and some unique properties aren't eligible.
- Past credit events. If you've had a bankruptcy, foreclosure, or short sale, waiting periods apply.
- Larger loans may require extra savings (reserves) after closing.
Where this is available
California, Arizona, Colorado, and Florida.
Program availability can vary by state and property. Contact us to confirm options for your home.
Other ways to buy are on Purchase. Practice owners can also see Self-Employed Loans.
Frequently asked questions
Which states can use a medical professional loan?
California, Arizona, Colorado, and Florida.
Can I buy a home before my new job starts?
Often, yes. With a signed contract or offer letter, many borrowers close up to about five months before their start date. You'll need savings to cover your payments until you start.
Do my student loans count against me?
If you're a resident or fellow qualifying with that income, student loans in deferment, forbearance, or a $0 income-driven repayment plan may be left out. Otherwise, a payment is included, and we'll help you plan for it.
Do I need two years of work history?
Not necessarily. A signed employment contract can be enough, especially for residents, fellows, and new graduates.
I'm a 1099 contractor with a new contract. Can I qualify?
Possibly. Some options use the minimum guaranteed pay in your contract, even with less than a year of 1099 history.
Can I use this to take cash out?
No. These loans are for purchases and rate-and-term refinances only. If you need cash, ask us about a HELOC or cash-out refinance.
Do I need documents before the first call?
No. Call or schedule a time and we'll walk you through your options.