A Home Financing Path for Today’s Medical Professionals
Doctors enter the workforce with a unique set of circumstances: High future income, but still bearing the financial weight of medical school. Traditional mortgage programs don’t always account for that unique mix.
Doctors enter the workforce with a unique set of circumstances: High future income, but still bearing the financial weight of medical school. Traditional mortgage programs don’t always account for that unique mix.
To help bridge that gap, we’re now offering the Medical Professional Home Loan, a mortgage option for early‑career medical professionals who need flexibility as they transition into their careers.
Below is an overview of how the program works, who it’s built for and why it may be a strong fit for qualified borrowers.
What Sets the Medical Professional Home Loan Apart
This program is structured to help medical professionals purchase a home even before their income reaches its full potential. It offers several advantages that differ from standard Conventional financing.
Program Highlights*
- Loan amounts up to $2 million for qualified borrowers
- Up to 100% financing, depending on eligibility
- No mortgage insurance required
- Eligible for primary residences only (single‑unit homes, planned unit developments condos and co-ops)
Who This Program Serves
The Medical Professional Home Loan is designed for borrowers with advanced medical degrees who are actively practicing or completing their training. At least one occupying applicant whose income is used to qualify must hold one of the following degrees:
- MD (Medical Doctor)
- DO (Doctor of Osteopathy)
- DDS or DMD (Dental degrees)
- PharmD (Doctor of Pharmacy)
- DVM or VMD (Veterinary Medicine)
- DPM (Podiatric Medicine)
- MD or DO specializing in Ophthalmology
- MD or DO specializing in Psychiatry
- CRNA with DNAP or DNP
- Medical residents, fellows, and interns with one of the above degrees
Loan Advantages for Medical Professionals
- More Accommodating Student Loan Treatment
- Medical school debt is often substantial. This program uses favorable student loan calculations for doctors, helping qualified borrowers maintain purchasing power.
- High Loan‑to‑Value Options
- Making a 20% down payment might be challenging during residency or fellowship. With potential for up to 100% financing, eligible borrowers may be able to purchase a home with no money down and still avoid monthly mortgage insurance. (Eligibility and program features may vary.)
- Income Considerations That Reflect Your Career Path
- Early‑career medical professionals often earn far less during training than they will once fully licensed. This loan allows borrowers to qualify based on projected income, not just past earnings — a major advantage for residents, interns and fellows.
Homeownership Is Accessible for Early Career Medical Professionals
Your medical career is just beginning, and homeownership doesn’t have to wait. With this program, your student loans don’t automatically limit your options, your projected income trajectory may help you qualify and you may secure a loan with a low or no down payment.
If you’d like to explore whether this loan aligns with your goals, a Newrez mortgage expert can walk you through the details and next steps.
*Terms available will be dependent on a number of factors including borrower's credit score and loan-to-value ratio.
At least one borrower must meet professional designation and specified degree requirements. Only available for purchase and rate-and-term refinance transactions on select property types. Loan-to-value and credit requirements apply. May not be combined with secondary financing. Subject to minimum and maximum loan amounts. Contact Newrez for more information.