If you're a medical professional—physician, dentist, veterinarian, or in a related medical field—you've probably seen how traditional mortgage guidelines don't always fit real life in medicine.
You may have strong income potential, but you're also managing student loans, starting a new role under contract, or relocating quickly. That's exactly why CrossCountry Mortgage and The Sharpe Team offer a Physician Loan Program (sometimes called a Doctor Loan). It's a financing option built specifically for medical professionals.
Quick Answer: A Physician Loan is a mortgage designed to help eligible medical professionals purchase a home with No down payment required on loans up to $1 million, no monthly mortgage insurance, and loan amounts up to $2 million.
What Is a Physician Loan?
A Physician Loan (also called a Doctor Loan) is a mortgage program created for qualifying medical professionals. It's built to support career paths that look different from traditional borrowers, especially early in a medical career.
When you finance through The Sharpe Team using this program, you can access benefits that include:
- No down payment required on loans up to $1 million
- No private mortgage insurance (PMI)
- Loan amounts up to $2 million
- 30-year fixed-rate or adjustable-rate (ARM) options
- The ability to close before your new employment begins
Who Is This Program For?
CrossCountry Mortgage's physician loan program is designed for the following professionals:
- Medical Doctor (MD)
- Doctor of Science (D.S.)
- Doctor of Osteopathic Medicine (DO)
- Doctor of Podiatric Medicine (DPM)
- Doctor of Dental Medicine (DMD)
- Doctor of Dental Surgery (DDS)
- Doctor of Veterinary Medicine (DVM)
This program is also designed with recent medical school graduates, residents, and doctors entering the field in mind.
How Does a Physician Loan Work?
The process looks a lot like a standard mortgage—application, documentation, underwriting, appraisal, and closing. The difference is how the program is structured around common medical-career realities.
1) No down payment required on loans up to $1 million
Qualified borrowers may be able to buy without a down payment on loans below $1 million, which can help preserve cash for moving expenses, reserves, and other costs during a transition.
2) No monthly mortgage insurance
Many low-down-payment loans come with monthly mortgage insurance. With this program, PMI is not required.
3) Student loans are evaluated with flexibility in mind
When you apply, your debt-to-income ratio is evaluated as part of the process. Physician loan programs are often more accommodating of deferred student loan debt than conventional loans. At
The Sharpe Team, we can walk you through how your specific student loan situation would be treated.
4) You may be able to close before your new job starts
Medical professionals often start new roles under contract and may need to relocate quickly. With this program, it may be possible to close on a home before your new employment begins.
Program Highlights at a Glance
- No down payment required on loans below $1 million
- No PMI
- Loan amounts up to $2 million
- 30-year fixed-rate or ARM options
- Limited to primary residences
Specific credit score, income, and debt-to-income requirements vary by borrower and are determined during the application process. Reach out to us directly for a personalized look at what you may qualify for.
Why Medical Professionals Like This Option
This loan program can be especially helpful if you want to:
- Keep more cash in the bank
- Avoid monthly mortgage insurance
- Buy while navigating student loan debt
- Purchase while relocating for a new role
Physician Loan FAQs
What is a Physician Loan?
A Physician Loan is a mortgage designed for eligible medical professionals. When you finance through The Sharpe Team using this program, you can access benefits like no down payment on loans up to $1 million and no monthly mortgage insurance.
Who qualifies?
Eligible designations include MD, D.S., DO, DPM, DMD, DDS, and DVM. The program is also designed with recent medical school graduates, residents, and doctors entering the field in mind.
Do I need a down payment?
No down payment is required on loans up to $1 million.
Is mortgage insurance required?
No, monthly mortgage insurance is not required with this program.
What loan amounts are available?
Loan amounts are available up to $2,000,000.
The Sharpe Team can help you determine what fits your specific home search.
Can I refinance using this program?
If you already have a physician loan, it can typically be refinanced, often into a conventional loan once you've built equity and paid down debt. Reach out to us to talk through your specific refinance options.
If you're a medical professional thinking about buying a home now or planning a move soon, The Sharpe Team can help you understand how the Physician Loan works, what you may qualify for, and how to structure financing in a way that protects your cash flow.
Call or text The Sharpe Team at (336) 575-9448 to get started.
