Medical professionals earn more over a career than almost any other profession, but traditional mortgage underwriting doesn't always see it that way. Clear2 Mortgage offers physician loan programs built around your actual financial profile, not your student loan balance.
Medical school and residency create a financial profile that looks risky on paper: large student loan balances, short employment histories, and income that starts strong but hasn't compounded yet. Physician loan programs are designed to look past that snapshot and underwrite based on what your financial future actually looks like.
Most physician loan programs exclude student loan debt from DTI calculations entirely, or use your income-based repayment (IBR) payment rather than the full balance. That alone can move the needle on what you qualify for.
Starting a new position in July? You can close on a home before your first paycheck clears. Most programs accept a signed employment contract or offer letter in lieu of pay stubs, letting residents and fellows buy on their own timeline.
Put down as little as 0% on select programs without paying private mortgage insurance. Preserving that capital matters during residency or the early years of practice, when cash flow is tight and opportunity costs are high.
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Eligibility varies by lender, but most physician loan programs available through Clear2's wholesale network recognize the following degrees. If yours isn't listed, ask us. Some lenders extend these programs to other doctoral-level professionals.
These are general guidelines. Terms vary by lender and individual profile. Clear2 shops multiple physician-program lenders to find the best fit for your situation.
Every situation is different. These examples show how physician loan flexibility applies at different stages of a medical career.
Lucas Barbat is Clear2 Mortgage's Vice President of Sales and one of the team's most experienced loan officers for physician and medical professional mortgages. Lucas understands the financial profile of a physician borrower and which wholesale lenders offer the most flexible terms for each stage of a medical career.
Whether you're a resident closing before your first paycheck, an attending buying a first home, or an established physician upgrading, Lucas will run your numbers across multiple physician programs and present the options clearly, without pressure.
Clear2 Mortgage is an independent broker, so Lucas is never limited to one lender's product line. That means competitive rates, more program flexibility, and a 30-day close guarantee on every transaction.
Lucas Barbat is an experienced mortgage professional with a focus on physician and medical professional loan programs. He works closely with residents, fellows, and attending physicians to structure financing that accounts for student debt, employment timelines, and high loan amounts.
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"Donavin was straightforward and a breeze to work with. Communication was quick and easy. The whole process was seamless and he was available for guidance or questions. I would not hesitate to use Clear2 Mortgage in the future."
"Alex was absolutely amazing from the beginning. He was patient and thorough with all of our questions. He even followed up after the process was finalized to ensure everything was still good. I would recommend him to everyone!"
"The process was seamless and every question I had as a first-time home buyer was answered. My loan officer gave me his professional opinion based on my specific circumstances to personalize my loan."
Can I use a physician loan if I'm still in residency or fellowship?
Yes. Most physician loan programs are specifically designed for residents and fellows. You can qualify using your residency contract or offer letter rather than pay stubs, and student loan debt is typically excluded or heavily discounted in the DTI calculation.
How does my student loan debt affect the physician loan application?
Most physician loan programs either exclude student loan debt from the debt-to-income calculation entirely, or use your income-based repayment (IBR) monthly payment rather than the full amortized balance. This makes a significant difference for borrowers with $150,000 or more in student debt.
What's the maximum loan amount available through Clear2's physician programs?
Loan limits vary by lender, but programs up to $1.5 million and beyond are available through Clear2's wholesale network. Homes in many medical communities fall well above the conventional conforming limit, and physician jumbo programs cover those price points without requiring 20% down.
Do physician loans have higher interest rates than conventional loans?
Physician loan rates are typically slightly higher than a conventional 30-year fixed for a borrower with 20% down, but the trade-off is no PMI and far less capital tied up in a down payment. For most physician borrowers, the math favors the physician program in the first several years of ownership. We'll run the actual numbers for your situation before you decide.
Which medical degrees qualify for a physician mortgage?
Most programs accept MD, DO, DDS, DMD, PharmD, DVM, NP, and PA credentials. Some lenders extend eligibility to CRNAs, optometrists (OD), and podiatrists (DPM). Eligibility varies by lender, so Clear2 checks multiple programs to find the right fit for your degree type.
Can I close before I start my new position?
Yes. Physician loan programs typically accept a signed employment contract or offer letter in place of pay stubs, allowing you to close before your first paycheck. The position start date generally must be within 60 to 90 days of closing, though this varies by lender. If your situation is time-sensitive, contact Lucas Barbat directly to discuss your timeline.
No obligation, no hard credit pull. Lucas will walk you through your options in plain language and show you exactly what each program costs and saves.
Clear2 Mortgage, LLC. NMLS #1911663. Licensed Mortgage Broker. 2600 W Big Beaver Rd, Suite 100, Troy, MI 48084. Equal Housing Lender. This is not a commitment to lend. All loans subject to credit approval, property appraisal, and underwriting guidelines. Rates and terms subject to change without notice.
