Physician & Medical Professional Mortgage Program

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Medical professionals face a unique financial reality—high earning potential paired with years of education, student loan debt, and often limited time to navigate a traditional mortgage process. To address these challenges, a new Physician & Medical Professional Mortgage Program has been introduced to better serve doctors and healthcare professionals purchasing or refinancing a primary residence in North Carolina or South Carolina.

This specialized mortgage option is designed for physicians and select medical professionals at various stages of their careers, including residents, fellows, and newly practicing doctors, offering flexible underwriting guidelines that better align with how medical professionals earn income and manage debt.

To qualify, at least one income-qualifying borrower must be an eligible medical professional. Approved designations include:

• MD / DO (Physicians)
   
• DDS / DMD (Dentists)
   
• PharmD (Pharmacists)
   
• DPM (Podiatrists)
   
• VMD (Veterinarians)
   
• CRNA (Certified Registered Nurse Anesthetists)
   
• Ophthalmologists and Psychiatrists (MD/DO)
   
• Medical residents, fellows, and interns holding the above degrees
   

This program is ideal for medical professionals who:

• Are early in their careers
   
• Have strong income potential but limited savings
   
• Are carrying student loan debt
   
• Are relocating for residency, fellowship, or employment
   
• Want to minimize upfront cash requirements
   

Unlike conventional mortgage programs that often rely heavily on historical income and automated underwriting systems, this physician loan is manually underwritten, allowing for greater flexibility and a more common-sense review of your financial profile.

• Active employment contracts or offer letters are allowed
   
• Start dates may be up to 150 days after the note date
   
• Medical residents and fellows may qualify using current income
   
• 1099 medical professionals may be eligible with proper documentation
   
• Self-employed borrowers may qualify with as little as one year of tax returns
   
• Asset depletion income may be used as a supplemental qualifying factor
   

Non-occupant co-borrowers are permitted, provided they contribute no more than 50% of the total qualifying income.

Student loan debt is one of the most common barriers physicians face when trying to qualify for a mortgage. This program offers a significant advantage:

• Student loan payments may be excluded from the debt-to-income calculation for borrowers in residency or fellowship who are qualifying on current income
   

This flexibility can substantially improve qualification outcomes for medical professionals who would otherwise be constrained by large deferred or income-based student loan balances.

This program offers broad loan sizing flexibility, making it suitable for both first-time buyers and experienced professionals purchasing higher-priced homes.

• Minimum loan amount:
   
  • $100,000 for fixed-rate loans
     
  • $350,000 for adjustable-rate loans (ARMs)
     
• Maximum loan amount: $2,000,000
   

• Up to 100% financing available
   
• No private mortgage insurance (PMI) required
   
• Minimum FICO score: 680
   
• Minimum LTV: 90.01%
   
• One active tradeline required
   
• Minimum 24-month credit history
   

This structure allows qualified medical professionals in NC and SC to purchase a home with minimal out-of-pocket expense while maintaining liquidity for emergencies, investments, or practice-related needs.

Depending on loan size and loan-to-value ratio, borrowers may be required to show up to six months of PITIA reserves (Principal, Interest, Taxes, Insurance, and HOA if applicable).

• Gift funds are allowed to satisfy reserve requirements
   
• Additional reserves may be required if qualifying with future start-date income
   

This program is strictly designed for owner-occupied primary residences.

• 1-unit primary residences only
   

• Second homes or investment properties
   
• Manufactured homes
   
• Mixed-use properties
   
• Non-warrantable condos
   
• Farms, TICs, or unique properties
   
• Maximum acreage: 40 acres (additional restrictions apply over 10 acres)
   

This ensures the program remains focused on helping medical professionals secure stable housing close to their place of practice.

• Primary residence only
   
• Up to 100% financing available
   

• Limited cash back allowed (up to 1%)
   
• Delayed financing permitted (non-Texas properties)
   

• Cash-out refinances
   
• Construction-to-permanent loans
   
• Secondary financing
   
• Bridge loans
   
• Interest-only or balloon loans
   

Borrowers may choose from a variety of fixed-rate and adjustable-rate options:

• 15-year
   
• 20-year
   
• 25-year
   
• 30-year
   

• 5/6, 7/6, and 10/6 ARMs
   
• 30-year amortization
   
• SOFR index
   
• No prepayment penalties
   
• Fully qualifying at indexed or stressed rate
   

North Carolina and South Carolina are home to major healthcare systems, teaching hospitals, and growing medical communities. Whether you’re relocating for residency in Raleigh, Durham, Chapel Hill, Charlotte, Charleston, or Greenville—or establishing a long-term practice—this program is designed to meet the realities of medical careers in the Carolinas.

• Tailored for physicians and medical professionals
   
• Supports early-career and transitioning doctors
   
• Reduces barriers created by student loans
   
• Allows high LTV financing without MI
   
• Manual underwriting enables flexibility not found in conventional loans
   

This new Physician & Medical Professional Mortgage Program is a powerful alternative to traditional financing for doctors and healthcare professionals in North Carolina and South Carolina. While it requires detailed documentation and manual underwriting, the flexibility it offers can be transformative—especially for those early in their medical careers.

If you’re a physician, resident, fellow, or qualifying medical professional considering a home purchase or refinance, this program may provide options that standard mortgage products simply cannot.