What is a physician loan?
A physician loan, sometimes called a doctor loan, is a mortgage program designed for eligible medical professionals. Depending on the program and your qualifications, physician financing may offer flexible options for student loan debt, down payments, and closing costs.
Who are physician loans for?
New graduates and those with student debt
Depending on the program, deferred student loan payments may be evaluated differently, which could provide greater homebuying flexibility. Some programs may also allow eligible borrowers to close before beginning a new position with an acceptable signed employment contract.
Residents, fellows, and practicing physicians
Physician loan programs offer financing options tailored to eligible medical professionals at different stages of their careers, whether you’re completing residency or fellowship, beginning a new position, or established in practice.
Other medical professionals
Physician financing may be available to medical professionals beyond physicians. Eligibility varies by profession, credentials, and program requirements.
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Physician loan benefits and requirements
See what a physician loan can do for you, and what it asks of you, before you talk numbers.
Student loans counted differently
Some programs leave out student loans that are deferred for at least a year from when you apply.
Less money down
Many programs let you buy with less up front than you might expect.
Buy before you start
Some programs let you close up to 90 days before residency begins, with a signed offer.
An eligible profession
Each program lists the degrees and roles it accepts. Your loan officer will confirm yours.
Proof of your position
A signed contract or offer letter, especially if your new role hasn't started yet.
Credit and income
What you'll need depends on the program. Your loan officer will show you where you stand.
Compare side by side
Physician loans vs. conventional loans
Both can buy the same home. The better fit depends on your student loans, your savings and where your career is headed.
Conventional loan
A standard loan for any qualified buyer.
Student loans
- Counted in your monthly debts
Down payment
- Depends on the loan
Best for
- Buyers with savings and steady income
Physician loan
Built around a medical career.
Student loans
- May be counted differently
Down payment
- Often less up front
Best for
- Residents and doctors early in practice
Tools & Calculators
Use our mortgage calculators to estimate payments, compare options, and make a more informed decision before your next move.
FAQs about loans for Physician Loans
Whether you’re exploring your options, already have a loan with Fairway, or need help finding the right place to go, connect with a loan officer to point you in the right direction.
Loan Servicing
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Monday–Friday | 8:30 a.m. – 5:00 p.m. Central
Disaster Relief Hotline
Eligibility varies by program. Residents, fellows, practicing physicians, and certain other medical professionals may qualify based on factors such as their profession, credentials, employment, income, credit profile, property, and loan amount.
Physician loan programs often evaluate student loan payments differently and allow you to qualify more easily than other mortgage options.
Many physician loan programs offer lower-down-payment options.
Not necessarily. Some programs may allow an eligible borrower to qualify before beginning residency or a new position using an acceptable signed employment contract.
No. A physician loan is a specialized mortgage program for eligible medical professionals, while a conventional loan is a mortgage that is not insured or guaranteed by a government agency and follows established lending guidelines.
No. Being a doctor does not require you to use a physician loan.
You may be able to refinance later, subject to your qualifications, market conditions, and the refinance program’s requirements.
Ready to see if a physician loan fits?
It starts with a conversation. Tell us about your training and your plans. Your local Fairway loan officer will reach out and compare your options.
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