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Best Physician Mortgage Loans
for 2026
Side-by-side comparison of the Top 5 lenders offering exclusive home loan programs for doctors. Zero down payment and no PMI. Read our comprehensive Physician Mortgage Guide to understand exactly how these loans work, or combine with student loan refinancing to free up maximum monthly cash flow.
Lender Comparison Table
Loan terms and limits current as of July 2026. Qualifications vary by state and individual financial profile.
| Lender | Min Down Payment | Max Loan Amount | PMI | DTI Logic | Availability |
|---|---|---|---|---|---|
| Huntington Bank | $0 | $1M at 0% · $1.75M at 5% · $2.5M at ~10% | None | Up to 50% | State list not published |
| TD Bank | $0 | $1M at 0% · $1.5M at 5% · $2M at ~10% | None | Flexible; no ceiling published | 16 states, Maine to Florida |
| BMO | $0 | $1M at 0% · $1.5M at 5% · $2M at ~10% | None | Flexible; no ceiling published | All states except NY; 95% max in CA, DC, FL, HI, ID, MD, NV, RI |
| Truist | $0 | $1M at 0% · $1.5M at 5% · $2M at ~10% | None | Deferred student loans excluded; IDR payment may count | All states except AK, AZ, HI |
| KeyBank | Not published | Up to $3.5M (highest published ceiling) | None | Not published | 15-state footprint; mortgage states not published |
| Flagstar Bank | $0 | $1M at 0% · $1.5M at 5% | None | Not published | No state excluded (not PR or USVI) |
| Bank of America | 3% minimum | $850K at 3% · $1M at 5% · $1.5M at 10% · $2M at 15% | Not stated | Deferred student loans can often be excluded | Not published |
- Min Down Payment
- $0
- Max Loan Amount
- $1M at 0% · $1.75M at 5% · $2.5M at ~10%
- PMI
- None
- DTI Logic
- Up to 50%
- Availability
- State list not published
- Min Down Payment
- $0
- Max Loan Amount
- $1M at 0% · $1.5M at 5% · $2M at ~10%
- PMI
- None
- DTI Logic
- Flexible; no ceiling published
- Availability
- 16 states, Maine to Florida
- Min Down Payment
- $0
- Max Loan Amount
- $1M at 0% · $1.5M at 5% · $2M at ~10%
- PMI
- None
- DTI Logic
- Flexible; no ceiling published
- Availability
- All states except NY; 95% max in CA, DC, FL, HI, ID, MD, NV, RI
- Min Down Payment
- $0
- Max Loan Amount
- $1M at 0% · $1.5M at 5% · $2M at ~10%
- PMI
- None
- DTI Logic
- Deferred student loans excluded; IDR payment may count
- Availability
- All states except AK, AZ, HI
- Min Down Payment
- Not published
- Max Loan Amount
- Up to $3.5M (highest published ceiling)
- PMI
- None
- DTI Logic
- Not published
- Availability
- 15-state footprint; mortgage states not published
- Min Down Payment
- $0
- Max Loan Amount
- $1M at 0% · $1.5M at 5%
- PMI
- None
- DTI Logic
- Not published
- Availability
- No state excluded (not PR or USVI)
- Min Down Payment
- 3% minimum
- Max Loan Amount
- $850K at 3% · $1M at 5% · $1.5M at 10% · $2M at 15%
- PMI
- Not stated
- DTI Logic
- Deferred student loans can often be excluded
- Availability
- Not published
Huntington Bank
Pros
- 100% financing up to $1 million with no PMI; 5% down to $1.75 million
- Open from the day you match: students with a contract, residents, fellows, practicing
- Close up to 90 days before residency or a new job starts
Cons
- Only ARM terms (3–15 year) are published; no fixed-rate option is listed
- No published state list or student-loan DTI treatment; you have to call to pre-screen
The Bottom Line: One of the first two or three programs a resident or new attending buying under $1 million should quote. Terms verified on Huntington’s site September 14, 2026. Read the full Huntington review for what the program pages leave out.
How we scored 4.6/5
Huntington scores 4.6 on published terms: three clear tiers, a 50% DTI ceiling, and eligibility from match day. The unpublished fixed-rate option and state list are the reasons to get answers in writing before relying on it.
TD Bank
Pros
- 100% financing to $1 million; fixed or adjustable rate, both published
- DPM, oral surgeons, and self-employed doctors named as eligible; condos and co-ops allowed
- An employment contract can be used as proof of income
Cons
- Only in the 16 states where TD has branches, and you need a TD checking account
- Must be less than 10 years out of residency; program caps at $2 million
The Bottom Line: The strongest published program for East Coast residents and new attendings buying under $1 million, especially if you want a fixed rate or a condo. Terms verified on TD’s site September 14, 2026. Read the full TD Bank review for the eligibility rules and what TD doesn’t publish.
How we scored 4.5/5
TD scores 4.5 on published terms: three clear tiers, a fixed-rate option in writing, and the broadest eligibility list of the East Coast banks. The footprint, the checking-account requirement, and the unpublished DTI ceiling are the reasons to confirm before you rely on it.
BMO
Pros
- Fixed and adjustable rates both offered in writing, in every state except New York
- Employment can start up to 90 days after closing; no income history required
- Condos, townhomes, and two-unit homes named; 0.125% autopay discount with a BMO checking account
Cons
- 0% down ends after 5 years of practice; not eligible after 10 years post-training
- Capped at 95% financing in CA, DC, FL, HI, ID, MD, NV, and RI; MD, DO, DDS, DMD only
The Bottom Line: A complete program for residents, fellows, and early attendings outside the eight capped states, with a fixed rate if you want one. Terms verified on BMO’s site September 20, 2026. Read the full BMO review for the 5- and 10-year rules and the state caps.
How we scored 4.5/5
BMO scores 4.5 on published terms: three clear tiers, fixed and ARM products, a 90-day start window, and a 49-state footprint. It loses ground on the shortest years-in-practice limits we have reviewed, the eight-state cap on 100% financing, and unpublished student-loan treatment.
Truist
(formerly SunTrust/BB&T)Pros
- Student loans excluded from DTI if deferred 12+ months after closing, in writing; income-driven payments may be accepted
- Published rate discount of 0.25 to 0.75 points for $100,000+ held at Truist, including IRAs and investments
- Available everywhere except Alaska, Arizona, and Hawaii; interns and podiatrists named
Cons
- 0% and 5% down end 10 years after training; at 15 years you must be a Truist Wealth client
- $2 million ceiling; no published DTI maximum, rate types, or early-closing window
The Bottom Line: The program to quote first in your first ten years out: it is the only one where you can read how your student loans will be counted before you call. Terms verified on Truist’s site September 19, 2026. Read the full Truist review for the 10- and 15-year rules.
How we scored 4.7/5
Truist scores 4.7 for the most complete published terms of any lender we have reviewed. It loses ground on the $2 million ceiling and on the two post-training clocks that reduce the financing available at year ten and gate the program at year fifteen.
KeyBank
Pros
- The highest published ceiling in physician lending, with fixed or variable rate and cash-out refinancing in writing
- The widest eligibility list: interns, researchers, clinical professors, managing physicians, DPM
- No published years-out-of-training limit; 0.25% client rate discount advertised
Cons
- Not one down-payment tier is published; the 0%-to-$1M figures quoted elsewhere are third-party reports
- No DTI, student-loan treatment, closing window, or state list on the program page
The Bottom Line: The first quote for a purchase above $2 million, or for a physician-scientist, clinical professor, or established attending other programs don’t name. Terms verified on KeyBank’s site September 14, 2026; Laurel Road’s physician mortgage now leads here. Read the full KeyBank review before you rely on any tier.
How we scored 4.3/5
KeyBank scores 4.3: the ceiling and eligibility list are the best published, but everything below $3.5 million has to be extracted from a loan officer rather than read on the page.
Flagstar Bank
Pros
- The widest published profession list: NPs, PAs, CRNAs, clinical nurse specialists, RNs, pharmacists, and optometrists, alongside MD, DO, DDS, DMD, DPM, and DVM
- No state excluded on the program page; New York City co-ops eligible
- 0% down to $1 million with no PMI and no published step-down inside the 10-year window
Cons
- Adjustable rate only (5/6, 7/6, 10/6 ARM); index, margin, and caps not published
- $1.5 million ceiling; must be within 10 years of the start of the profession; no DTI, student-loan, or closing-window terms published
The Bottom Line: The program to call if you are an NP, PA, CRNA, pharmacist, or optometrist, or if you are buying in a state the other lenders exclude. Terms verified on Flagstar’s site September 20, 2026. Read the full Flagstar review for the 10-year rule and the ARM terms.
How we scored 4.4/5
Flagstar scores 4.4 for reach: the widest profession list and the only program with no published state exclusion. It loses ground for offering only adjustable rates, the lowest ceiling we have reviewed, and publishing nothing on DTI or student loans.
Bank of America
Pros
- Medical students named as eligible; close up to 90 days before a salaried start
- No published years-since-training limit; MD, DO, DDS, DMD, OD, DPM, and DVM eligible
- Deferred student loans can often be excluded from total debt
Cons
- No 0% down tier; 4 to 6 months of PITIA reserves, excellent credit, and a Bank of America account required
- The page does not say whether mortgage insurance is waived; researchers and professors are excluded
The Bottom Line: A physician loan for physicians who already have savings. A reasonable quote for an established attending or an existing Bank of America client; the wrong program for a resident with little cash. Terms verified on Bank of America’s site September 20, 2026. Read the full review for the reserve math.
How we scored 4/5
Bank of America scores 4.0: it names medical students, has no years-out clock, and publishes its reserve rules plainly. It asks for more cash than any other lender we have reviewed and leaves mortgage insurance, rate types, and states unaddressed.
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Down Payment Savings
Cash saved upfront vs a conventional 20% down loan
Are Physician Loans Always the Best Option?
Not always. If you already have 20% cash saved for a down payment and your student loans are low, a conventional mortgage will usually offer a slightly lower interest rate than a physician loan. Physician loans are designed to solve a specific problem: high income coupled with high student debt and low cash reserves. If you don't fit that profile, shop conventional rates as well.
Frequently Asked Questions
What is a physician mortgage loan?
A physician mortgage (or doctor loan) is a specialized home financing product designed specifically for medical professionals. They offer unique underwriting criteria that ignore student loan debt (or calculate it favorably), allow for zero to very low down payments, and do not require Private Mortgage Insurance (PMI).
Do I need a 20% down payment?
No. The primary benefit of a physician loan is the ability to finance 100% of the home's purchase price without paying PMI. Many lenders offer zero down up to $1 million, and 5–10% down for loans up to $2 million or more.
Can I close on a home before I start my new attending job?
Yes. Most physician mortgage programs allow you to close on a home up to 60 or 90 days before you actually start your new job, using your signed employment contract as proof of income. This makes relocating for residency, fellowship, or a new attending position much easier.
Is the interest rate higher than a conventional mortgage?
It can be slightly higher — typically 0.125% to 0.25% higher than a conventional mortgage with 20% down. However, because physician loans do not charge PMI, your overall monthly payment is usually significantly lower than a conventional loan with less than 20% down.
Do these loans work for refinancing my current home?
Yes, many lenders offer rate/term and cash-out refinances using physician loan criteria. This can be an excellent strategy if your home has appreciated or you want to drop PMI from a conventional loan you took out during residency.
Disclaimer: Loan limits, down payment requirements, and product availability are current as of July 2026 and are subject to change. Your actual approval and rate depend on creditworthiness, income, DTI, loan amount, and location. This page contains affiliate links — MedMoneyGuide may earn a commission if you originate a loan through our links. This does not influence our ratings, which are based on independent analysis of each lender's physician-specific features and customer experience. This article is for educational purposes only and does not constitute financial or real estate advice.
Editorial Credibility
Joshua Dunigan, DO | Family Medicine Physician & Founder
I founded MedMoneyGuide to provide physicians with unbiased, specialty-specific financial guidance. My goal is to add transparency and credibility to your financial journey.