Doctor Mortgage Loan

What Is JVM’s Doctor Mortgage Loan?

JVM’s Doctor Mortgage Loan is a specialty loan built for licensed healthcare providers who want to buy or refinance a primary residence. It removes many of the barriers that make traditional mortgages difficult for medical professionals, where years of school and training often mean high student debt, limited savings, and income that looks very different on paper than it will in practice.

Eligible borrowers can finance up to 100% of a home’s value with no down payment, skip mortgage insurance entirely, and qualify using income from an employment contract or offer letter. The program is available to physicians, medical doctors, doctors of osteopathy, dentists, pharmacists, ophthalmologists, psychiatrists, veterinarians, podiatrists, nurse anesthetists, doctors of nursing practice (DNP), doctors of nurse anesthesia practice (DNAP), and medical residents or fellows still in training.

Who Qualifies?

You’re eligible if you hold one of the following credentials and have a valid license (or are currently pursuing one through a residency, fellowship, or internship):

• Medical Doctor (MD)
• Doctor of Osteopathy (DO)
• Doctor of Dental Science or Surgery (DDS)
• Doctor of Dental Medicine (DMD)
• Doctor of Pharmacy (PharmD)
• Doctor of Veterinary Medicine (DVM or VMD) 
• Doctor of Podiatric Medicine (DPM)
• Certified Registered Nurse Anesthetist (CRNA)
• Doctor of Nursing Practice (DNP)
• Doctor of Nurse Anesthesia Practice (DNAP)

At least one borrower on the loan must hold an eligible degree and have an active employment contract or verification of employment. Non-occupant co-borrowers (aka cosigners who are not moving into the property) are allowed, but their income must be less than 50% of the total qualifying income.

Key Benefits

0% Down Payments

With a 720+ credit score, you can access a loan amount up to $2,000,000 with NO down payment. If your score is between 680 and 719, you can still put 0% down on loan amounts up to $1,500,000, or put just 5% down on loans up to $2,000,000. That means you can buy a home without spending years saving for a large down payment.

No Mortgage Insurance

Conventional loans require private mortgage insurance (PMI) when you put less than 20% down. This program waives that requirement entirely. That can save you hundreds per month compared to a conventional loan with similar down payment levels.

No Reserves Required

Many larger conventional loans, also known as “jumbo” loans, require at least 6 months of savings in addition to a 10%+ down payment, making it difficult for new professionals to qualify for a home purchase. This doctor mortgage loan program does not require any reserves for buyers putting 5% down, and requires as few as 3 months of reserves for buyers putting 0% down. These more flexible savings guidelines can make purchasing more attainable for doctors and other medical professionals who qualify.

Student Loan Flexibility for Residents and Fellows

If you’re currently in residency or a medical fellowship, student loan payments that are deferred, in forbearance, or set at $0 through an income-based repayment plan may be excluded from your debt-to-income calculation. This recognizes that your training income doesn’t reflect your long-term earning power. For practicing professionals, student loans are factored into DTI, but the program allows ratios up to 50%, which is higher than the 43% cap on most large conventional loans (aka jumbo loans).

Qualify Before You Start Working

You don’t need years of income history. If you have a signed employment contract or offer letter, you can use that projected income to qualify. Your start date just needs to fall within 150 days of the loan closing date. This lets you secure housing before your career transition instead of scrambling after you start.

Program Details at a Glance

Who Is This Loan Best For?

• Residents and fellows who want to buy during training and start building equity instead of renting
• Newly practicing physicians or dentists relocating for a first attending role with a signed contract but no savings for a 20% down payment and 6+ months of reserves, as required by most traditional lenders
• Pharmacists, veterinarians, podiatrists, and CRNAs who are often excluded from other physician mortgage programs
• Healthcare professionals with high student debt but strong income who need the 50% DTI allowance to qualify
• Established practitioners looking to refinance into better terms without mortgage insurance

Alternatives to the Doctor Mortgage Loan

Conventional loans are available with as little as 3% down, but you’ll pay PMI until you hit 20% equity. If you already have 20% saved and limited debt, a conventional loan may offer a lower rate.

FHA loans accept credit scores as low as 580 with 3.5% down. The trade-off is mandatory mortgage insurance on 30-year terms and lower loan limits. Many borrowers who start with FHA refinance into a better product once their financial profile strengthens.

VA loans offer 0% down and no mortgage insurance for eligible veterans and active-duty service members. If you qualify for both VA and this program, a VA loan is likely the better deal.

Frequently Asked Questions

Who is eligible for a doctor mortgage loan?

Licensed healthcare providers including physicians, doctors of osteopathy, dentists, pharmacists, ophthalmologists, psychiatrists, veterinarians, podiatrists, nurse anesthetists, and doctors of nursing practice.

Can I qualify using an employment contract instead of pay stubs?

Yes. You can qualify with a signed employment contract or offer letter, even before your start date. Additional reserves may be required to cover the months between your first payment and employment start.

How are student loans treated?

Student loan payments that are deferred, in forbearance, or set at $0 through an income-based repayment plan may be excluded from your debt-to-income calculation.

Is there a down payment requirement?

No. Eligible borrowers can finance up to 100% with no down payment and no mortgage insurance on loan amounts up to $2,000,000.

Is the Doctor Mortgage Loan Right for You?

If you’re a licensed healthcare professional looking to buy or refinance a primary residence, this program is worth exploring. The combination of 100% financing, no mortgage insurance, and student loan flexibility is hard to match with any other single product.

Reach out to our team at JVM Lending at (855) 855-4491 or hello@jvmlending.com to find out if you qualify. Our team specializes in healthcare professional mortgages and can walk you through your options.