Physician loan

What is a Physician loan?

A physician or Doctor loan is a mortgage program specifically for medical professionals that has a lower down payment requirement (0-5%) , no PMI(Private Mortgage insurance) if making less than 20% down payment. These loans are meant for new medical professionals just entering the field.  They offer some exceptions with regards to debt-to-income (DTI) ratio and with the Loan to Value ratios also.  The Physician home loans take into account that these young professionals have student loan debt, and that the doctors' career trajectories allow for earning significantly more after training years.