Laurel Road Physician Mortgage Program

Considering a doctor mortgage for your next house purchase? Laurel Road has a physician mortgage program where you can put little to no money down.

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Mary Kate Raffetto

I’m an associate at a firm in Houston and used JD Mortgage thanks to your advice! The experience was great—they were super fast and responsive.” —Mary Kate Raffetto Beck Redden LLP

Clint Cowan

For a JD Mortgage, I had good luck with IBERIABank. [They] made this process very smooth.” —Clint Cowan Lynn Pinker Hurst & Schwegmann

Key Terms

  • Medical program and healthcare graduates interested in buying their first or second home can get access to up to $1,000,000 with 0% down with Laurel Road.
  • No private mortgage insurance is required and you can potentially have access to $650 in lender’s credit towards your mortgage closing costs.
  • Several loan payment options are available including 30, 20, and 15-year fixed mortgages, as well as 5/6 and 7/6 adjustable rate/variable rate mortgages.

Buying your first home marks an exciting moment. It’s a dream that over 65% of Americans fulfill with millions of new mortgages signed each day. If you’re carrying too much debt due to overwhelming school loans, however, seeing this come to fruition can be difficult. Saving for a down payment can be next to impossible and so can getting a loan with few restrictions. Traditional mortgages require you to meet certain eligibility standards that can be difficult for many medical student graduates to meet. 

Current research shows the average medical school graduate in the US has $203,062 in accumulated student loan debt. Physicians’ mortgages are specifically addressed to meet the needs of graduates of medical programs who are about to embark on lucrative careers but currently have too much debt to buy a home via the traditional route.  By taking advantage of the Laurel Road Physician’s Mortgage, you can get started faster and invest in your future with confidence. 

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Pros/Cons of Laurel Road physician mortgage loans

Laurel Road, a brand of KeyBank, has several mortgage loan options, as well as student loan refinancing for medical professionals that can help you get started owning your first or second home. Your student loan debt doesn’t need to stand between you and your future.  Here’s an analysis of what Laurel Road has to offer, the pros and cons, and how you stand to benefit.  


Available across the entire US in all 50 states. Unlike some special mortgage programs, Laurel Road’s physicians’ mortgage is available to U.S. citizens and permanent residents across the entire continental US. This program offers 100% financing to:

  • Interns
  • Residents
  • Fellows
  • Doctor of medicine
  • Dentists
  • Clinical professors
  • Researchers
  • Managing physicians with a medical degree and current license
  • Doctor of Osteopathic Medicine
  • Doctor of Dental Medicine (DMD)
  • Doctor of Dental Surgery (DDS)
  • Doctor of Podiatric Medicine

Access to a variety of mortgages with 0% down. Those individuals who fit the criteria for this home loan can get access to $1,000,000 with 0% down. You can choose from a variety of loan terms including:

  • 30 year fixed
  • 20 year fixed
  • 15 year fixed
  • 5/6 ARM
  • 7/6 ARM 

A fixed mortgage can protect you from sudden fluctuations in the market in the case of rising interest rates which can drive up loan payments. A hybrid adjustable-rate mortgage  (ARM) provides you with a low rate in the first few years and then it’s readjusted every six months after this for the life of the loan, while tied to a common benchmark index. When mortgage rates are low, this can provide you with an advantage through lower monthly payments.  

Laurel Road provides physicians’ mortgages for:

  • Finance or refinance a primary residence single-family homes
  • Single-family attached homes
  • Planned Urban Developments (PUD) 
  • Condominiums 
  • Second homes (a larger down payment may be required and additional restrictions can apply)

Ability to finance a second home. Laurel Road offers borrowers the chance to finance a second home through its doctors mortgage product. It’s important to note, however, this type of loan may require a larger down payment and additional restrictions may apply.

Potential lower monthly payments. Laurel Road doesn’t require you to have private mortgage insurance (PMI), which means your monthly payments can be lower.  

Help with your closing costs. This program is offering up to $650 in lender’s credits to put towards your mortgage closing costs. These credits can’t exceed your actual closing costs but are a perk that can help reduce what you need to pay. Closing costs are typically about 3% to 6% of the total purchase price of your home and amount to thousands of dollars. 


Laurel Road’s physician mortgage program comes with a few drawbacks, as is to be expected. 

Not available to retirees. This program is only available for practicing medical professionals and can’t be used by retired doctors. It’s also the case that it’s only available to those who are purchasing or refinancing a home with no cash out on their primary residence. 

You need a minimum credit score of 720. In order to access loan amounts up to $1,000,000 with 0% down, you need to have a minimum credit score of 720. The good news is that you get to skip a down payment, so if you’ve been paying your credit card bills to date on time, you may qualify. 

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How to Apply for a Laurel Road physician’s loan

To apply for a Laurel Road physician’s mortgage, click through their easy online application process on 

To complete your application, you will need to supply the following to underwriting:

  • Your diploma or accreditation of completion (medical license)
  • An employment contract or an offer letter of acceptance to a residency program
  • 2 years of 1040 personal tax returns
  • W2’s from your last two years of employment (if applicable)
  • If practicing, your two most recent pay stubs
  • Proof of alimony, child support or other maintenance income (if applicable and ONLY IF you want it considered in determining your qualification)
  • Statements from your checking account and savings accounts and any personal loans or debt consolidation loans for the past two months
  • Statements from your IRA, 401k or other investments accounts for the past quarter
  • Source and verification of down payment funds (if applicable)
  • A copy of the purchase and sale agreement (not applicable for refinancing)
  • additional documentation for individuals who are self employed

Is using a Laurel Road doctor mortgage a good idea?

A Laurel Road doctor mortgage can be well suited to you if you’re graduating from a medical program with substantial debt or you’re a practicing medical professional interested in buying a home and you have a decent credit score. With low potential interest rates, and the opportunity to be approved for a mortgage of up to $1M with 0% down, this program can set you on the road to financial stability through first or second home ownership.

If you’re looking to explore physician mortgage loans in your state, check out our state-by-state guide to physician loans as a starting point in your search.

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Joshua Holt

Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.

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