For Residents & Fellows
Yes, Residents Can Qualify for a Physician Mortgage
Your income is low now, but lenders know where you're headed. Physician mortgage programs are specifically designed to get you into a home during training — not after.
“My income is only $60k as a resident”
Physician mortgage lenders qualify you based on your signed employment contract or projected attending salary — not your current resident stipend.
“I have $300k+ in student loans”
Physician mortgage programs exclude or minimize student loan debt from DTI calculations. Deferred loans may be excluded entirely.
“I can't afford a down payment”
0% down payment up to $2M. You keep your savings for moving costs, furniture, and your emergency fund.
“My DTI would be way too high”
With student debt excluded and your projected income, most residents have DTIs well within the 45% qualifying limit.
How Residents Qualify
Physician mortgage programs were created specifically for medical professionals in training. Here's how they address the unique financial situation of residents and fellows:
- 1.Employment contract as income proof. Your signed contract showing your start date and salary is sufficient. You can close on a home up to 90 days before your start date.
- 2.Student debt exclusion. Instead of counting your full IBR payment, lenders may use 0% or 1% of your student loan balance — or exclude deferred loans entirely.
- 3.No PMI, no down payment. Even with 100% financing, there is no private mortgage insurance. This saves $200-$500+ per month compared to a conventional loan.
- 4.Flexible credit requirements. While a 680+ FICO is typical, lenders understand that residents may have limited credit history and can work with thinner files.
Ready to Get Pre-Approved?
Nate Jones has pre-approved hundreds of residents. Free 10-minute call, no obligation.
Call Nate: (858) 254-0955Get Your Personalized Pre-Approval Estimate
Three quick steps. Nate reviews your numbers and calls at your convenience.