What is a Physicians Mortgage Loan?
Get answers plus personalized advice from a mortgage industry expert
Get the Facts About
Physician Mortgage Loans
You’ve worked hard to grow and succeed in your career, so we’ve created a simplified financing option tailored to fit your professional lifestyle.
What is a Physicians Mortgage Loan?
A physician mortgage loan is designed to help make home ownership accessible to physicians, residents, and other medical professionals managing a large amount of medical student debt. Also called a “doctor mortgage”, it factors in future income possibilities and excludes the full amount of medical student debt when calculating DTI, making it very popular with new physicians with high student loan debt. Unlike a conventional mortgage, a down payment of 20% isn’t required to avoid paying PMI.
Who Qualifies for a Physicians Mortgage Loan?
Physicians (fellows or attending physicians included), medical residents, pharmacists, veterinarians, pharmacists, and other medial professionals are eligible for a physicians mortgage loan.
What are the rates for a Physicians Mortgage Loan?
In general, interest rates for physician mortgage loans are similar to conventional jumbo mortgage interest rates. However, interest rates will vary and will depend on each applicant’s unique financial situation. Schedule your free consultation with mortgage expert Ron Dreilich to learn more about your potential interest rate and what you can expect.
How does it compare to a conventional mortgage loan?
Unlike conventional mortgages, physician mortgages don’t require a 20% down payment to avoid PMI. With physician mortgage loans, you can avoid PMI without having to pay a large down payment (although putting money down definitely has its benefits regardless). In addition, physician mortgages don’t consider the full amount of your student loan debt when calculating your DTI, making it very popular with new physicians with high student loan debt.
Get answers plus personalized advice from a mortgage industry expert
A mortgage solution tailored for your professional lifestyle.
You’ve worked hard to grow and succeed in your career, so we’ve created a simplified financing option to suit your needs. UMB offers a professional mortgage loan to help you purchase or refinance your home.
Maximum loan-to-value options:
| Home Purchase Financing | Rate/Term Refinance | Cash Out | Loan Limits |
|---|---|---|---|
| 100% | 100% | 80% | Up to $1,000,000 |
| 95% | 95% | 80% | Up to $1,500,000 |
| 90% | 90% | 80% | Up to $2,000,000 |
Home Purchase Financing
100%
Rate/Term Refinance
100%
Cash Out
80%
Loan Limits
Up to $1,000,000
Home Purchase Financing
95%
Rate/Term Refinance
95%
Cash Out
80%
Loan Limits
Up to $1,500,000
Home Purchase Financing
90%
Rate/Term Refinance
90%
Cash Out
80%
Loan Limits
Up to $2,000,000
Available for primary residence
No mortgage insurance required
Minimum credit score of 700 required
Cash reserve requirements apply
Maximum debt-to-income ratios apply
Minimum household income $150,000
Made for physicians, pharmacists, residents, veterinarians, and other medical professionals
Flexible down payment options
Available for primary residence
No mortgage insurance required
Minimum credit score of 700 required
Cash reserve requirements apply
Minimum household income $150,000
Made for physicians, pharmacists, residents, veterinarians, and other medical professionals
Maximum debt-to-income ratios apply
Flexible down payment options
Higher loan amount options may be available. Multiple terms and options available. All loans are subject to credit and collateral approval. Restrictions apply.
Ask a Mortgage Expert
Ron Dreilich
Ron Dreilich
Mortgage Loan Originator,
Private Wealth Specialist
NMLS #846551
Call or text: (303) 332-2157
Ronald.Dreilich@UMB.com
UMB Bank
3500 S Oneida Way
Denver, CO 80224
30+ years of experience in the mortgage industry
$500M+ funded in physician mortgages
With more than three decades of mortgage banking experience and over $500M funded in physician mortgages, Ron has the tools and knowledge to educate customers on various types of mortgage loans. He takes the time to design a mortgage plan that best fits his customers’ needs.
Buying a home is one of the largest financial decisions a family will make. Whether refinancing, purchasing a new home or investment property, Ron is available to assist his customers in all 50 states. He works hard to provide his customers with a smooth lending process from start to finish.
Ron began his mortgage career in Detroit, Michigan in 1987 and moved to Denver, Colorado in 1993. He is an active member of the Colorado State Police Family Foundation and the Colonel’s Challenge. Outside of work, Ron enjoys working out, biking, golfing and spending time with his family. He also loves Huskies and has two of his own, Scout and Brook.