Question 1

Who qualifies for a medical professional home loan?

Accepted Answer

These programs are available to a wide range of medical professionals — physicians (MD, DO), dentists (DDS, DMD), optometrists (OD), podiatrists (DPM), physician assistants (PA), nurse practitioners (NP), and CRNAs — plus residents, fellows, and interns. Your professional credential usually matters more than your years in practice.

Question 2

How much do I need for a down payment?

Accepted Answer

Often nothing. Many programs finance up to $1,000,000 with 0% down on a primary residence, 5% down up to $1.25 million, and 10% down on higher loan amounts. Second homes and vacation properties typically require 10% or more.

Question 3

Will I have to pay private mortgage insurance (PMI)?

Accepted Answer

Typically no. A defining benefit of a medical professional mortgage is that it waives PMI even at low or no down payment, which keeps your monthly payment lower than a comparable conventional loan.

Question 4

Can residents and fellows buy a home before their first paycheck?

Accepted Answer

Yes. With a signed employment contract, many programs let you close up to 90 days before your start date, using the contract as proof of income instead of pay stubs.

Question 5

Is MedLoan Advisor a lender?

Accepted Answer

No. MedLoan Advisor is an independent information service. We explain the home-loan programs available to medical professionals and, when you are ready, connect you with a licensed loan officer who handles the financing — at no cost and no obligation.

Question 6

Can I use these programs to refinance or buy a second home?

Accepted Answer

Yes. The same medical professional profile can be used to refinance an existing mortgage or to purchase a second or vacation home, usually with a slightly higher down payment for non-primary residences.

Question 7

How are student loans considered?

Accepted Answer

Medical professional underwriting treats student debt more realistically than a conventional loan — allowing debt-to-income ratios up to 45% and accounting for income-driven or deferred payments rather than an inflated standard figure.

Question 8

Do you offer programs for first-time homebuyers?

Accepted Answer

Yes. Many medical professionals buy their first home with these programs. The low- or no-down-payment structure and flexible treatment of student debt make a first purchase realistic earlier than a conventional loan would allow.

FAQ

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