3 Home Loans for Medical Professionals

Home Loans for Medical Professionals – Overview

Home loans for medical professionals like doctors, dentists, and veterinarians help them overcome the obstacles they face while securing financing.

Medical schools are often expensive, and therefore, many healthcare professionals have substantial student loan balances, making it difficult to further qualify for loans.

Home loans are available for medical professionals to help them understand the unique situations.

Student loans are often considered when evaluating loan eligibility, but some lenders may focus less on this debt if there is a contract for future employment.

Home Loans for Medical Professionals – Who Should Get Them?

Qualifying medical professionals should consider a loan if:

1. They have a high student loan balance and do not qualify for a traditional loan

2. They have little or no money for a down payment and want to avoid PMI

3. They don’t have traditional proof of income but do have a contract for employment

Types of Home Loans for Medical Professionals – Popular Programs

There are various home loans for medical professionals. Programs include options for low—and no-money-down home loans, higher loan amounts, etc.

FHA Loans – Offer low down payment options. Seller concessions may be allowed.

USDA Mortgages – Up to 100% financing in USDA-eligible areas.

Conventional Loans – Low down payment options are available with highly competitive interest rates.

Jumbo Loans – Offers higher loan amounts.

New Doctor Loans – Considers future earnings.

3 Home Loans for Medical Professionals – Where to Apply?

Here are the top home loans for medical professionals based on ease of qualifying, low down payments, and credit score requirements.

1. TD Bank

TD Bank offers 100% financing on loans up to $1 million with no private mortgage insurance (PMI), allowing the purchase of a home with no down payment. It doesn’t require traditional proof of income and offers larger loans.

Loans are available to licensed medical and dental residents, oral surgeons, fellows who have completed at least two years of residency, and practicing physicians, including MDs, DOs, and DPMs.

There is a choice of a fixed or adjustable rate loan and the ability to close on your home before starting employment.


1. Borrow amounts up to $1 million with no down payment or up to $ 1,5 million at a 5% down payment

2. Borrow for single-family residences or condos and co-ops

3. Self-employed borrowers are eligible for a minimum of two years of work history

For more information, visit https://www.td.com/us/en/personal-bankingus/en/personal-banking/mortgage/choose-your-loan/.

2. First National Bank

First National Bank stresses easy, fast, and simple approval.

After you input your personal information, a private banker will be assigned to help you with loan approval.


1. A streamlined process that allows timely loan approval

2. Borrow for a primary residence, second home, vacation home, or new construction.

For more information, visit https://www.fnb-online.com/.

3. Flagstar Bank

Flagstar Bank’s home loans for medical professionals allow you to borrow up to $1 million without a down payment and facilitate a fast closing.

However, a minimum credit score of 710 is required to qualify.

Flagstar professional loan is open to residents, medical doctors, veterinarians, optometry or ophthalmology, dentists, podiatrists, DOs, nurse practitioners, anesthetists, and clinical nurse specialists.


1. Flexible down payment options for a loan up to $1.5 million

2. Close up to 60 days before employment

For more information, visit https://www.flagstar.com/.


Home loans for medical professionals offer affordable home options.

The lenders provide generous funding with easy qualifying, low down payments, minimum credit score requirements, and fees for qualifying the maximum medical professionals.

See Also

Grants for Medical Research

Home Loans for Healthcare Workers

Hardship Grants for Single Mothers

Current Version
May 6, 2024
Updated By
Andrea Morales G.
January 30, 2021
Written By
Victoria Abigail Friedland

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