Doctor/Physician Loan Programs
Physician mortgage programs are designed specifically for MDs, DOs, DDSs, DMDs, and other medical professionals. Key benefits include zero or low down payment (often 0-5% on loans up to $1.5M+), no PMI even with less than 20% down, student loan-friendly DTI calculations (some programs exclude or reduce student loan impact), and acceptance of employment contracts for residents and fellows who haven't started earning yet. These programs recognize that physicians have high earning potential despite early-career debt loads.
Mortgage Solutions for Nurses
While dedicated nurse mortgage programs are less common than physician loans, California nurses have excellent options through conventional loans with standard qualification, FHA loans for nurses with lower credit or savings, VA loans for nurses with military service, and bank statement programs for travel nurses with variable W-2 income. Travel nurses face particular challenges because their income comes from multiple employers and locations. Save Financial's bank statement program uses 12-24 months of deposits to establish consistent income.
Managing Student Loan Debt
Medical school debt averaging $200,000-$300,000 is the biggest mortgage obstacle for healthcare professionals. Strategies include income-driven repayment plans (IBR/PAYE/REPAYE) that lower monthly payments and reduce DTI, student loan forgiveness programs (PSLF for public hospital employees) which some lenders can factor in, physician loan programs that exclude or reduce student debt in DTI calculations, and refinancing student loans to lower the monthly payment before applying for a mortgage.
Unique Scheduling Considerations
Healthcare workers often work irregular hours, making traditional in-person appointments difficult. Our recommended broker offers evening and weekend availability (9AM-8PM, 7 days a week), fully digital application and document submission, phone and video consultations, and flexible closing schedules to accommodate shift work. Our team understands the demands of healthcare careers and works around your schedule.
Expert Contributor
Mike Baasti, Licensed Mortgage Broker
Expert contributor to Mortgage Guide California. Licensed mortgage broker (Sponsored by Save Financial, Inc. (NMLS #377740), DRE #01875766) and founder of Save Financial, Inc. in Newport Beach, CA. 20+ years originating conventional, FHA, VA, jumbo, and specialty loans across California.