Keyword focus: physician mortgage calculator
Physician Mortgage Calculator
Use tailored doctor loan assumptions to manage student loans and rapid income growth.
Model low down payments and project payments after your attending salary kicks in.
Doctor loans waive PMI, accept high debt-to-income ratios, and accommodate contract income. This page helps new physicians balance residency pay with future attending salaries.
What to review
- Run low down payment scenarios without PMI to see cash-saving potential.
- Factor in deferred student loans and projected income bumps.
- Check jumbo-style loan limits common with physician mortgage lenders.
Quick tips
- Use employment contracts
- Many lenders accept signed contracts as proof of income. Upload them early so underwriting moves fast.
- Keep reserves handy
- Doctor loans often require cash reserves despite low down payments. Add them to your closing cost plan.
- Review specialty incentives
- Hospital relocation or signing bonuses can boost down payments. Reflect them in the calculator as extra cash to close.
Common questions
-
Who qualifies for doctor loans?
Physicians, dentists, veterinarians, and certain specialists usually qualify. Ask lenders about eligible designations before applying.
-
Is PMI ever required?
No. Physician mortgages replace PMI with higher rates or small fees. Compare both in the calculator to gauge lifetime cost.
-
Can I use an ARM?
Yes. Many doctor loans offer ARMs to match residency timelines. Use the adjustable-rate page or adjust the rate field to see future payments.