Question 1

What is a medical professional home loan?

Accepted Answer

A medical professional home loan is a specialized mortgage designed for eligible healthcare professionals whose income, training path, student debt, or employment timing may not fit a standard mortgage profile. Current options may provide high loan-to-value financing, no monthly mortgage insurance, larger loan amounts, flexible treatment of certain student loans, and the possible use of qualifying future employment income.

Question 2

Can I really finance 100% of the purchase price with 0% down?

Accepted Answer

Potentially, yes. Qualified borrowers may be eligible for 100% financing (0% down) at loan amounts up to $1.5 million, and in select higher-credit scenarios up to $2 million. At loan amounts up to $2 million, 95% financing may also be available. 0% down does not eliminate closing costs, prepaids, or required reserves. Final limits depend on credit, debt ratio, residency status, property, and underwriting.

Question 3

Is monthly mortgage insurance required on a medical professional loan?

Accepted Answer

No monthly mortgage insurance is required under the current medical professional loan options, even when the loan exceeds 80% of the home's value. The absence of monthly MI does not guarantee the lowest rate or total cost; the loan should still be compared with other programs using rate, APR, payment, cash to close, and expected time in the home.

Question 4

Which medical professions may qualify?

Accepted Answer

Eligible professionals may include physicians (MD, DO), dentists (DDS, DMD), pharmacists (PharmD), veterinarians (DVM, VMD), podiatrists (DPM), Nurse Practitioners, Physician Assistants or Associates, Certified Registered Nurse Anesthetists (CRNA), optometrists (OD), and qualifying medical residents, fellows, or interns. Exact degree, licensing, and employment requirements must be confirmed before eligibility is represented.

Question 5

Can I qualify before I start my new medical position?

Accepted Answer

Potentially, yes. Qualifying projected income may be used when the borrower has an acceptable fully executed employment contract or offer letter. The new job generally must begin no more than 150 days after the mortgage note date, and additional reserves may be required to cover the housing payment for each month between closing and the employment start date.

Question 6

Are student loans automatically ignored for medical professionals?

Accepted Answer

No. The published exclusion is limited to specific residents or fellows who are qualifying on current training income and whose loans are deferred, in forbearance, or reporting $0 because of an income-based repayment plan. Other borrowers generally must include a qualifying payment calculated from documentation, a percentage of the balance, or a fully amortizing payment.

Question 7

What is the maximum loan amount for a medical professional home loan?

Accepted Answer

The current maximum loan amount is generally $2 million. Fixed-rate loans generally begin around $100,000, while adjustable-rate minimums may range from approximately $200,000 to $350,000 depending on the selected option. There is no separate purchase-price cap because the purchase price can exceed the loan amount when the borrower makes a down payment.

Question 8

What minimum credit score is required?

Accepted Answer

The lowest published minimum is generally 680, but many scenarios require 700 or 720. The required score depends on the loan amount, percentage financed, borrower residency status, and selected loan option. Every borrower must meet the applicable credit standard, and a score that meets the minimum does not by itself guarantee approval.

Question 9

Does the property have to be my primary residence?

Accepted Answer

Yes. The current medical professional loan options are limited to a one-unit primary residence. Second homes, vacation homes, investment properties, two- to four-unit residences, and manufactured homes are not eligible under the options summarized in this guide.

Question 10

Can the loan be used for both a purchase and a refinance?

Accepted Answer

Yes. Eligible transactions generally include a primary-residence purchase and a rate-and-term refinance. Cash-out refinances are not permitted. A refinance must meet the applicable ownership, title, lien, value, cash-back, and seasoning requirements, and the property must remain the borrower's one-unit primary residence.

Question 11

Are medical professional home loans available in every state?

Accepted Answer

Availability depends on the property state, lender licensing, current product availability, and state law. Tyler Brown Team is authorized to do business in California, Colorado, Texas, Nevada, Washington, and Oregon. Texas purchases may be eligible, but Texas home-equity transactions under Section 50(a)(6) are not permitted. State eligibility should be confirmed before relying on the program.

Question 12

What documents will I likely need to apply?

Accepted Answer

Common items include identification, a secure loan application, pay statements, W-2s, tax returns when applicable, bank and investment statements, student-loan statements, degree and license documentation, employment verification, a signed future contract if used, and housing history. Sensitive documents should be collected through an approved secure portal.

Question 13

Can I qualify with less than two years in my current job or right after graduation?

Accepted Answer

Potentially, yes. Education, residency, fellowship, and a qualifying medical employment contract can help establish a logical transition into the profession. The lender still reviews the complete two-year employment and education history, gaps, licensing, and likelihood of continued income.

Question 14

Can I qualify after a bankruptcy, foreclosure, or short sale?

Accepted Answer

Potentially, after the required waiting period. Major credit events commonly require at least four years of seasoning, and a prior foreclosure may require up to seven years under some options. Recent notices of default, deeds-in-lieu, forbearance-related modifications, or multiple major credit events can also restrict eligibility.

Question 15

How do I get started with a medical professional home loan?

Accepted Answer

Submit an inquiry through the Let's Get Started form on this page. Tyler Brown will personally follow up within one business day to schedule an educational financing review. No sensitive financial information is required to begin, and an inquiry is not a loan approval or a commitment to lend.

Medical Professionals Program

Overview

Eligible Professionals

Program Details

Meet Your Advisor

Let's Get Started