Exclusive Home Financing for Medical Professionals
If you are a physician, resident, fellow, dentist, pharmacist, veterinarian, or other eligible medical professional, a doctor loan program may make it easier to buy a home in Austin with more flexible financing options than a traditional mortgage.
Joel Richardson helps medical professionals explore home loan solutions designed around the realities of their careers, including student loan balances, future income, contract-based employment, and the transition into a new role. Eligible borrowers may have access to features such as up to 100% financing up to $2,000,000, up to $2,500,000 with 89.99% financing, and no private mortgage insurance (PMI). Download this flyer here.
Who This Doctor Loan Program Is Designed For
This program is for medical professionals who want a path to homeownership that better reflects their earning potential and career structure.
At least one borrower must be a licensed medical professional*. Eligible borrower types listed include:
- MD
- DO
- DDS
- DMD
- DVM
- OD
- DPM
- PharmD
- CRNA
- Residents
- Fellows
*non-occupant co-borrowers are permitted.
Doctor Loan Highlights
Medical professionals often have strong long-term earning power but unique short-term qualifying challenges. This program is structured to help address that.
Key loan features include:
- Primary residence only
- Purchase or rate/term refinance options
- Fixed-rate and ARM options available
- 100% financing up to $2,000,000
- Up to $2,500,000 with 89.99% financing
- No PMI required
- Non-permanent resident aliens may be eligible
These features may be especially valuable for doctors and other medical professionals who want to preserve cash while buying a home in Austin or the surrounding area.
Flexible Qualification for Medical Professionals
One of the biggest reasons borrowers look into a physician loan in Austin is the underwriting flexibility.
Our doctor loan program may allow for:
- Flexible student loan treatment
- Projected income allowed with a signed contract or offer letter
- Closing up to 150 days prior to new employment
That can be especially helpful for:
- residents relocating for training
- fellows transitioning into the next stage of practice
- physicians moving to Austin for a new contract
- medical professionals who want to buy before their first paycheck begins
Income and Asset Flexibility
For many high-earning professionals, income documentation is not always straightforward. This program offers added flexibility in several areas, including:
- 1099 self-employed contracts may be eligible
- no 2-year work history required for self-employed physicians
- gift funds allowed for down payment, closing costs, and reserves
- departing residence may be omitted with 20% equity
These features can matter for doctors with nontraditional compensation, contract work, or a current home they are planning to transition out of.
Why Austin Medical Professionals Explore Doctor Loans
Austin continues to attract physicians and healthcare professionals because of its hospital systems, specialty practices, research opportunities, and growing communities. A doctor loan can be a strong fit for medical professionals who want to buy near work, reduce upfront cash needs, or qualify using future employment income.
Whether you are moving to Austin for residency, starting a new attending role, buying near a hospital campus, or refinancing your current primary residence, this type of financing may offer advantages over conventional options depending on your situation.
Work With Joel Richardson
Joel Richardson is a mortgage professional with over 20 years of finance experience and great reviews based in Austin, serving clients in Texas and nationwide.
Buying a home as a medical professional in Austin?
Talk with Joel Richardson about whether a doctor loan program (download flyer here) could fit your goals, timeline, and financial picture. Or, apply today!
Loan approval and terms are dependent upon borrower credit, documented ability to repay, acceptable collateral property, and underwriting criteria. This loan product is offered by First Community Mortgage and administered through a broker relationship. Additional restrictions apply. Product feature availability may vary by borrower profile and location. Ask for complete details. This program is for primary residences only.
