Physician/Doctor Mortgage Loan Calculator
Physician mortgage loans waive PMI, allow 0-5% down, and exclude student loan deferred-payment income calculations — products designed for MDs, DOs, DDS, DMD, and high-income future earners. This calculator estimates payment under physician-loan terms vs standard conventional.
Who Qualifies
MDs, DOs, DDS, DMD, DPM, optometrists, PharmDs, and some other healthcare professionals. Many programs also accept attorneys (JD), CPAs, and other high-income future earners — varies by lender.
Key Underwriting Advantages
Three biggest: 0-5% down without PMI (vs 20% conventional or 3.5% with FHA MIP), student loan deferred payments often excluded from DTI calculation, and signed employment contract can substitute for tax returns proving income (helps residents and new grads).
When Physician Loans Lose
Rate is typically 0.125-0.375% higher than comparable conventional. On large loans this can exceed the PMI savings. Run the math at your specific price + down combo before choosing. Loan caps usually $750K-$2.5M depending on lender.
Physician Doctor Loan Calculator: Inputs That Actually Move the Verdict
The physician-loan-vs-conventional question lives or dies on three numbers: (1) down-payment percent (every program flips the math at the 10–15% line), (2) the rate spread you actually got quoted (programs vary from +0.125% to +0.50% over conventional in 2026), and (3) annual student-loan IBR/PSLF payment your underwriter will count. Per the CFPB loan-options guide, low-down-payment loans without PMI are explicitly allowed under regulation when documented via a deposit-account-relationship program — which is exactly what most physician loans are. Plug your real lender quote in above; do not trust the rack rate on a marketing page, since residents and attending-bonus borrowers usually negotiate 0.125% off.
Resident vs Attending: How the Calculator Result Should Change
For a resident on a signed but unstarted contract, run the calculator at 0% down and zero income from tax returns — most physician programs use the employment contract as proof of income and exclude IBR student loan payments from DTI (saving 8–15% borrowing power). For an attending 2+ years in practice with W-2s and bonus, run it at 10% down + the conventional rate with PMI removed at 78% LTV per the Homeowners Protection Act — at that profile, conventional often wins unless rate spread is <0.25%. The physician-loan advantage compresses fast once the borrower has 2 years of W-2 income.
Sources: CFPB Loan Options Guide, Independent Community Bankers Association physician loan benchmarks. Last updated 2026-06-30.