QUICK ANSWER Yes. Dentists (DDS/DMD) and veterinarians (DVM) qualify for physician loans at most major lenders, including TD Bank, Laurel Road, Fifth Third Bank, and LoanFactory's national network. These programs offer the same benefits as physician loans for medical doctors: 0-5% down payment, no PMI, flexible student loan treatment, and higher loan limits. However, not all lenders include dentists and veterinarians, so it's essential to verify eligibility before applying.

How to Find and Compare Physician Loan Programs Not all lenders offer physician loans, and terms vary significantly between programs. Understanding what to look for—and how to compare options—ensures you get the best financing for your situation. WHAT TO LOOK FOR IN PHYSICIAN LOAN LENDERS When evaluating physician loan programs, compare these key features: Down Payment Requirements • 0% down: Rare, but some programs offer zero down payment • 3-5% down: Most common range for p

QUICK ANSWER The five most common mistakes doctors make when buying their first home are: (1) waiting too long to start the process, (2) overestimating what they can afford, (3) not understanding physician loan benefits, (4) making large financial changes during mortgage approval, and (5) skipping pre-approval. Avoid these mistakes by working with a lender experienced in physician mortgages, getting pre-approved early, budgeting conservatively, and maintaining financial stabi

QUICK ANSWER Physician loans and conventional loans serve different needs. Physician loans offer 0-5% down with no PMI and flexible student loan treatment. This can be ideal for early-career doctors with high debt but strong income potential. Conventional loans require 3-20% down, charge PMI under 20% equity, but offer lower interest rates for borrowers with clean debt-to-income ratios. Choose physician loans if you're carrying student debt and want to buy soon; choose conve

QUICK ANSWER Medical residents can qualify for physician loans even before finishing residency, provided you have a signed employment contract with a start date typically within 60-120 days of your home closing. Lenders approve you based on your future attending salary (not your current resident stipend), and they exclude or defer student loan debt from debt-to-income calculations. Most programs require a 700+ credit score and proof of medical credentials (MD/DO degree and li

QUICK ANSWER (Executive Summary) A physician loan is a specialized mortgage program designed specifically for medical professionals including doctors (MD/DO), dentists (DDS/DMD), veterinarians (DVM), and pharmacists (PharmD). These loans recognize a doctor's future earning potential rather than penalizing current student loan debt, offering unique benefits like zero to low down payments (0-5%), no private mortgage insurance (PMI), and flexible debt-to-income (DTI) ratio calc

Buying your first home is an exciting journey, but it can also feel overwhelming. If you are a first-time homebuyer, you may have heard about FHA loans. These loans are designed to help people like you achieve the dream of homeownership. In this post, we will explore some top tips for navigating the FHA loan process and making your home-buying experience as smooth as possible. FHA loans are backed by the Federal Housing Administration. They offer lower down payment options an

What is a VA Loan? A VA loan is a mortgage option backed by the U.S. Department of Veterans Affairs. It is designed to help veterans, active-duty service members, and certain members of the National Guard and Reserves purchase homes. The primary goal of VA loans is to provide affordable financing options to those who have served in the military. VA loans come with several advantages, including: No down payment required No private mortgage insurance (PMI) needed Competitive in

Buying a home is a significant milestone for anyone, but for self-employed individuals, the process can feel even more daunting. With unique financial situations and documentation requirements, self-employed homebuyers often face challenges that traditional employees do not. However, with the right preparation and knowledge, you can navigate the homebuying process successfully. In this blog post, we will explore essential steps that self-employed homebuyers should take to mak