Let's compare.

You've heard about the physician loan, and you've probably read about some of the benefits it offers (no PMI, up to 100% financing)—but how does it compare to other loan programs? The chart below outlines the differences between three loan programs you're probably considering: the physician loan, an FHA loan and a conventional mortgage.

Some other factors to consider...

WILL YOUR DEFERRED STUDENT LOANS COUNT AGAINST YOU?

Like so many of your fellow physicians, you've probably racked up a bit of student loan debt. Unfortunately, traditional mortgages and FHA loans include these loans in your debt-to-income ratio, and can keep you from qualifying for the home loan you need. Depending on your career stage (med student, intern/resident, fellow, attending), the doctor loan program offered by the bankers in our network DON'T count your deferred student loans against you, making it a very attractive option for physicians.

ARE YOU ABLE TO USE YOUR FUTURE INCOME?

Unlike most other loans, the doctor loan allows emerging physicians to use their future income to pre-qualify for a home loan: all that's needed is an employment contract. Conventional loans require two pay stubs as proof of income and therefore don't allow physicians to use future income while pre-qualifying. And FHA loans cannot close until the doctor provides a pay stub or other acceptable evidence that they have begun their new job.