Physician Mortgage Loans in California | Program Overview

Early-career medical professionals may have substantial student debt, limited savings or a new employment contract. Conventional and specialty programs evaluate these circumstances differently; down-payment and mortgage-insurance requirements vary.

That is the wall many California physicians hit. Physician loan programs were designed with that situation in mind.

What Is a Physician Loan?

A physician loan, sometimes called a doctor mortgage, is a portfolio lending product designed specifically for medical professionals. It operates outside standard Fannie Mae and Freddie Mac guidelines, which means each participating lender sets its own guidelines.

Select participating physician programs may offer low- or no-down-payment options, alternative treatment of eligible employment contracts, or no monthly mortgage insurance. Availability and qualification requirements vary by profession, lender, credit, reserves, debt-to-income ratio, property and employment status.

The Numbers in California for 2026

High home prices in many California markets can make larger cash requirements difficult for early-career medical professionals. Select physician programs offer low- or zero-down-payment options or no PMI for eligible borrowers. Loan-amount tiers, employment-contract treatment and eligibility vary by participating program.

Down-payment options, loan-amount tiers and mortgage-insurance treatment vary by participating program and are subject to lender underwriting.

Who Qualifies?

Eligible professions vary by program and may include MDs, DOs, dentists and other medical professionals. Some programs may consider residents, fellows or borrowers with an eligible signed employment contract, subject to lender requirements.

Credit, reserves, debt-to-income ratio and other requirements vary by lender and program.

How Student Loans May Be Treated

Student-loan treatment varies by agency, repayment status, documentation and lender. A qualifying payment may be based on a documented payment or a program-specific calculation; there is no universal 1% rule for every conventional mortgage.

Some participating physician programs may use a documented income-driven repayment amount instead. Treatment varies by program and is subject to lender underwriting.

Why Use a Broker Instead of Going Directly to a Bank?

A direct lender presents its own available programs. A mortgage broker may compare available participating-lender physician options for the documented scenario. Final terms depend on underwriting and current program requirements.