10 Best Physician Mortgage Loans With Zero Down Payment

This article will highlight physician mortgage loans with no money down for doctors, residents, and other medical practitioners.

These loans are designed to help customers with no private mortgage insurance, relaxed underwriting, and acknowledgment of future income.

Professional homeownership is attainable even without large geek savings for down payment. Financing mortgages also provide early housing guarantees.

Key Points & Best Physician Mortgage Loans with Zero Down Payment

Bank of America Physician Loan Offers 100% financing, no PMI, and accepts employment contracts before starting medical practice.

PNC Bank Doctor Loan Provides zero down payment, flexible debt-to-income ratios, and jumbo loan options for physicians.

TD Bank Medical Professional Mortgage Allows 100% financing, recognizes future earning potential, and accommodates student loan repayment programs.

Fifth Third Bank Physician Loan Zero down payment, competitive interest rates, and contract-based approval for new medical graduates.

KeyBank Medical Professional Loan Offers 100% financing, no PMI, and considers residents, fellows, and practicing physicians equally.

SunTrust (Truist) Doctor Loan Provides zero down, jumbo loan access, and flexible underwriting for physicians with high debt.

U.S. Bank Physician Mortgage Zero down payment, accepts signed employment contracts, and offers refinancing options for medical professionals.

Regions Bank Doctor Loan 100% financing, no PMI, and tailored for physicians with limited savings or high debt.

Flagstar Bank Physician Loan Offers zero down, jumbo loan options, and flexible approval for residents and practicing doctors.

Huntington Bank Physician Mortgage Provides 100% financing, contract-based approval, and competitive rates for physicians starting new careers.

10 Best Physician Mortgage Loans with Zero Down Payment

1. Bank of America Physician Loan

Bank of America offers physician mortgage loans to assist doctors in buying homes with no money down. The loan also waives private mortgage insurance (PMI), which can lower monthly payments.

New graduates starting residency or their practice can obtain loans since the program allows employment contracts to be submitted as proof of income.

Physicians receive better interest rates, and the underwriting guidelines are more flexible because they consider the physician’s student loan debt.

This mortgage helps doctors gain financial and career stability by purchasing their first home earlier in their careers without saving for a down payment.

Bank of America Physician Loan Features

• Zero down payment available for qualified physicians.
• Private mortgage insurance (PMI) is waived, lowering monthly mortgage payments.
• New graduates can use signed employment contracts as income verification.
• Under consideration, student loan debt and expected future earnings.

Pros	Cons
Zero down payment option available for qualified physicians.	Limited availability in certain states and regions.
No private mortgage insurance (PMI), reducing monthly costs.	May have stricter credit score requirements.
Accepts signed employment contracts for new graduates.	Interest rates may be slightly higher than conventional loans.
Flexible underwriting considers student loan debt.	Not always suitable for non-physician medical professionals.

2. PNC Bank Doctor Loan

The physician loan initiative by PNC Bank offers 100% financing with no need for PMI. It’s designed for medical professionals with large student loan amounts and offers a flexible DTI ratio.

New doctors can qualify for loans based on anticipated future earnings, prior to even starting their medical practice.

Additionally, PNC offers jumbo loan options which is beneficial for doctors buying more expensive homes.

This loan is particularly beneficial to residents and fellows who want to obtain housing early in their careers and financially set themselves up to focus on their medical practice without housing worries.

PNC Bank Doctor Loan Features

• 100% financing with no PMI.
• Adjustable debt-to-income ratios for physicians with student loans.
• Qualifies based on projected income prior to practicing.
• Jumbo loans available.

Pros	Cons
100% financing with no PMI requirement.	Availability limited to specific states.
Flexible debt-to-income ratio calculations.	Jumbo loan options may require stronger financial profiles.
Qualification based on future income potential.	May not cover all medical specialties.
Offers jumbo loan options for high-value homes.	Interest rates can vary depending on borrower’s credit.

3. TD Bank Medical Professional Mortgage

TD Bank caters to healthcare professionals through its medical professional mortgages. New doctors have an easier time qualifying due to the bank’s understanding of potential future earning ability.

Since the bank’s mortgage program considers student loan repayment plans, new doctors don’t have to worry about their student loan debt hindering their ability to become homeowners.

New doctors, and those further along in their careers, find TD Bank mortgages appealing due to their flexible underwriting and interest rates.

This loan program is especially advantageous to physicians because it offers jumbo loans to high-cost home buyers without the need for a big initial down payment.

TD Bank Medical Professional Mortgage Features

• Zero down payment for physicians and other healthcare providers.
• Easier qualification based on future income potential.
• Student loan repayment plans considered during underwriting.
• Access to Jumbo loans at lower interest rates.

Pros	Cons
Zero down payment available for physicians and healthcare providers.	Limited geographic coverage compared to larger banks.
Recognizes future earning potential for qualification.	May require higher credit scores for jumbo loans.
Accommodates student loan repayment plans.	Interest rates may be less competitive in some markets.
Provides jumbo loan access with flexible terms.	Not all medical professionals may qualify.

4. Fifth Third Bank Physician Loan

Fifth Third Bank’s physician loan program makes finances simple and easy with 100% financing and no PMI.

The program is geared towards medical professionals, like residents and fellows, who may not have had to build up their savings.

Contract-based approvals are part of the program, meaning physicians can qualify before beginning their new role.

Because of flexible underwriting and interest student debt, this loan is perfect for debt-ridden doctors.

Fifth Third Bank’s physician mortgage is perfect for young professionals aiming to buy their first house, offering them financial flexibility and down payment relief.

Fifth Third Bank Physician Loan Features

• No PMI required with 100% financing.
• Pre-employment qualification based on contract.
• Medical professionals get lower interest rates.
• Underwriting is balanced for physicians with student debt.

Pros	Cons
100% financing with no PMI requirement.	Limited availability in certain regions.
Contract-based approval before starting employment.	May have stricter underwriting for higher loan amounts.
Competitive interest rates for physicians.	Not always available for non-physician healthcare professionals.
Flexible underwriting supports student debt management.	Loan options may vary depending on career stage.

5. KeyBank Medical Professional Loan

KeyBank understands how difficult it can be for medical professionals to obtain loans, so their medical professional loan program offers physicians mortgage loans without requiring a down payment or PMI.

Residents, fellows, and practicing physicians can all access this program, which is designed to be flexible for all stages of their career.

The program includes interest rates that are more competitive than standard rates. KeyBank’s specialized underwriting considers the applicant’s student loan debt, which is how most physicians will be carrying their debt.

It is especially helpful to doctors looking to buy a home in more expensive areas, as it includes jumbo loan options.

KeyBank mortgage loans for physicians facilitate home purchases in a way that doctors do not need to compromise their financial health or postpone their career aspirations.

KeyBank Medical Professional Loan Features

• No PMI with a Zero down payment.
• Extended to residents, fellows, and practicing physicians.
• Medical professionals get lowered interest rates.
• Jumbo loans for high-cost housing areas.

Pros	Cons
Zero down payment and no PMI requirement.	Limited to states where KeyBank operates.
Available to residents, fellows, and practicing physicians.	May require stronger financial documentation for jumbo loans.
Competitive interest rates tailored for doctors.	Interest rates may be higher than larger national banks.
Jumbo loan options for expensive housing markets.	Not always suitable for non-physician borrowers.

6. SunTrust (Truist) Doctor Loan

Now rebranded as Truist, SunTrust extends a physician mortgage program where doctors can apply for a mortgage with no down payment and no PMI.

They have a physician loan mortgage option which is for high-value properties because they also offer jumbo loans.

The program has Flexible Underwriting, which means they don’t consider student loans and other debts as disqualifiers, which takes future earning potential into consideration.

They even qualify applicants based on signed employment contracts, which is great for new graduates going into residency or into practice.

Truist has designed their physician loan to help doctors obtain housing earlier in their careers and to eliminate some of the financial obstacles to homeownership.

They offer great customer service and competitive interest rates, which makes their loan a great option for doctors.

Truist Doctor Loan Features

• No down payment and no PMI.
• Jumbo loans available.
• Student loans and other debts are considered in underwriting.
• Financing is available with a signed employment contract.

Pros	Cons
Zero down payment with no PMI requirement.	Availability may vary by region.
Access to jumbo loans for high-value properties.	May require higher credit scores for larger loans.
Flexible underwriting considers student loan debt.	Interest rates can be less competitive in some markets.
Qualification based on signed employment contracts.	Limited to physicians and certain medical professionals.

7. U.S. Bank Physician Mortgage

U.S. Bank provides an affordable option for doctors entering the profession through their physician mortgage program which includes 100% financing and no PMI.

For new graduates, the program is particularly advantageous as employment contracts can be used as proof of income, meaning they can qualify for the mortgage before starting their new jobs. Graduates are able to customize the mortgage to reflect their career changes through refinancing options.

With flexible underwritten loans and affordable interest rates, student loans will not be an obstacle.

For early career, financially stable physicians, this mortgage will significantly lower the wait time to purchase a home, providing long-term security.

U.S. Bank Physician Loan Features

• 100 percent financing with no PMI.
• New graduates with signed employment contracts are eligible.
• Loan forgiveness and refinancing options are available.
• Rates and underwriting are both favorable.

Pros	Cons
100% financing with no PMI requirement.	Limited availability in certain states.
Accepts signed employment contracts for new graduates.	May require stronger financial documentation for jumbo loans.
Offers refinancing options for flexibility.	Interest rates may be slightly higher than conventional loans.
Competitive interest rates with flexible underwriting.	Not always suitable for non-physician borrowers.

8. Regions Bank Doctor Loan

Regions Bank has a doctor loan program that allows physicians to borrow with no down payment and no PMI.

This program is structured to help medical professionals who may be starting their careers with little savings due to student loan debt.

This program comes with flexible interest and underwriting criteria that helps doctors to be financially qualified.

Because of the eagerness to help, added the potential to earn income down the road. This is especially convenient for new medical practitioners to buy their houses before starting their practices.

This new loan will help doctors in the target home buying fest in most expanding branch markets. This loan also helps doctors concentrate on their practices.

The doctor loan program will help home buying and barrier financing to help doctors have a robust focus on their practice.

Regions Bank Doctor Loan Features

• No down payment and no PMI.
• Designed for physicians with little cash and a lot of debt.
• Rates are favorable and so are the underwriting criteria.
• New graduates are considered for their expected income.

Pros	Cons
Zero down payment with no PMI requirement.	Limited to regions where Regions Bank operates.
Tailored for physicians with limited savings or high debt.	May not cover all medical specialties.
Competitive interest rates and flexible underwriting.	Interest rates may vary depending on borrower’s profile.
Recognizes future earning potential for new graduates.	Jumbo loan options may require stronger financials.

9. Flagstar Bank Physician Loan

Physician mortgage options at Flagstar Bank include fully financed loans with no PMI, and jumbo loans.

These mortgage options are catered to busy medical professionals, including residents, fellows, and practicing doctors.

Flexible middle career stage options are also available. There are also competitive interest rates and are structured to be student loan debt forgiving.

Physicians can secure loans based on projected income, improving housing access for recent graduates. For medical professionals buying homes in expensive neighborhoods, Flagstar Bank’s mortgage options are especially beneficial.

These loans promote home ownership while allowing medical professionals to keep their finances and career goals intact, making them fully mortgage approved.

Flagstar Bank Physician Loan Features

• 100 percent financing and no PMI.
• Jumbo loans for expensive housing.
• Undergirding credit for student loans.
• Residents, fellows, and physicians are all eligible.

Pros	Cons
100% financing with no PMI requirement.	Limited geographic coverage compared to national banks.
Jumbo loan options for high-cost housing markets.	May require higher credit scores for jumbo loans.
Flexible underwriting considers student loan debt.	Interest rates may be less competitive in some regions.
Available to residents, fellows, and practicing physicians.	Not always suitable for non-physician borrowers.

10. Huntington Bank Physician Mortgage

Huntington Bank has a mortgage program for doctors that helps them save money by not requiring any down payment and not charging PMI.

They also have contract-based approvals which means they allow physicians to get approved for a mortgage before they even start their new job.

Along with that they have great interest rates and flexible underwriting which takes their student loans into consideration.

Huntington Bank’s physician mortgage is also tailored to those at various levels in their medical careers, even including residents and fellows.

This mortgage is great for newly graduated doctors because it provides them with great financial freedom by removing barriers to buying a house early in their careers, providing them with great financial freedom and removing any barriers to buying a house.

Huntington Bank Physician Loan Features

• No down payment and no PMI.
• Offers a contract before employment starts.
• Rates are favorable for all medical professionals.
• Underwriting is flexible across all career stages.

Pros	Cons
Zero down payment with no PMI requirement.	Availability limited to Huntington Bank service areas.
Contract-based approval before starting employment.	May require stronger financial documentation for jumbo loans.
Competitive interest rates for medical professionals.	Interest rates may be higher than larger banks.
Flexible underwriting supports physicians at different career stages.	Not always suitable for non-physician borrowers.

Cocnsluion

In cocnsluion The Best Physician Mortgage Loans with Zero Down Payment are helping doctors, residents, and fellows gain access to homeownership.

By removing PMI, accommodating underwriting criteria, and considering underwriting projections, these programs keep financial constraints to a minimum.

Physicians can obtain housing early in their careers, not needing to spend time or money on extensive down payments, and can direct their efforts to practicing medicine with the confidence that their financial and housing situation is stable and affordable.

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