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Doctor Loans

Physician Loans for Doctors and Residents in Delaware and Pennsylvania

Medical training produces an odd financial profile: enormous earning potential, almost no savings, and a student loan balance that scares an automated underwriting engine. Physician programs were built specifically for that gap.

Review a physician scenario 302-600-3197

A doctor loan is a portfolio mortgage that a bank keeps on its own books rather than selling to an agency, which is exactly why it can break the normal rules. The lender is betting on the career, not the current bank statement. Three mechanics define the product. First, the qualifying income can come from a signed employment contract with a future start date rather than pay history. Second, student loan debt is counted at the documented income driven payment instead of a flat percentage of the balance, or set aside entirely when deferment extends well past closing. Third, mortgage insurance is waived even at 5% down or less, because the bank is holding the risk and prices it into the rate. Across health systems in Wilmington, Newark, Philadelphia, and the Lehigh Valley, that combination often turns a decline into a comfortable approval.

Who it's for

  • Residents and fellows relocating to a Delaware or Pennsylvania hospital with a signed contract in hand
  • Attending physicians inside their first ten years of practice, which is the window most programs cap
  • Dentists, oral surgeons, and veterinarians, who are included by nearly every investor offering the product
  • Borrowers carrying heavy student loan balances that would blow past a conventional debt ratio
  • Buyers with strong credit but little accumulated down payment, since training years rarely allow saving

Why choose this loan type

  • No monthly mortgage insurance at low down payments, which frequently offsets a slightly higher note rate outright
  • Contract based qualifying lets you close before the first paycheck clears, matching how residency and fellowship start dates actually work
  • Higher loan amounts than conforming limits allow, so a physician program can reach jumbo territory without jumbo reserve requirements
  • Gift funds are broadly accepted for the down payment and closing costs, which matters when family is helping bridge the training years

Frequently asked

Can I close on a doctor loan before I actually start the job?+

Usually yes. Most physician programs will qualify you off a signed employment contract with a start date inside the next 60 to 90 days, which is what makes them so useful during residency transitions and fellowship moves. You bring the contract instead of pay stubs, and the lender treats the contracted salary as the qualifying income.

Does student loan debt really get excluded?+

Not excluded, handled differently. Agency rules force a percentage of the outstanding balance into the ratio when a loan is deferred. Physician programs typically use the documented income driven repayment amount instead, and some will drop deferred balances entirely if deferment runs past closing by a year or more. On a six figure balance that swing decides the approval.

Which credentials qualify beyond MD and DO?+

It varies by investor. The consistent list is MD, DO, DDS, DMD, and DVM. Several lenders extend the same terms to optometrists, podiatrists, pharmacists, CRNAs, and physician assistants at slightly higher down payment tiers. We confirm the credential list before ordering anything, because a mismatch there is the single most common reason a physician file gets rewritten mid stream.

Start a physician file

Send the employment contract, the credential, and a rough student loan picture. We'll tell you which physician investors will treat that profile best.

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