Truist Physician Loan Mortgage: Is it the Right Program for You?

Truist has one of the most popular doctor mortgage programs and it’s not hard to see why.

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Key Terms

  • With Truist, you can access a mortgage loan of up to $750,000 with 0% down, as a medical student or professional, to purchase or refinance a home.
  • This program doesn’t require you to obtain private mortgage insurance, resulting in lower monthly bills.
  • Truist Bank is the result of a merger between SunTrust Bank and BB&T bank and is a lender that operates nationwide and is available across the US.

It’s a fact: the majority of Americans own their own home. This isn’t an accomplishment that’s easy for all to attain, however. As a medical school graduate or a practicing medical professional, crippling student debt can stand in the way of you obtaining a traditional home mortgage.

The trouble is, the average medical student in the US has between $200,000 and $300,000 worth of student debt, which can bring down your credit score considerably, rendering you ineligible. Doctors and dentists, however, are an integral part of society and should be rewarded for their hard work, at the bare minimum, by being able to own a home. Often, these professionals have a lucrative financial future ahead of them. Banks realize this and have adjusted to meet these realities. 

By taking advantage of a Truist’s doctor loan program, you can invest in the wealth of your future and get ahead financially. You can potentially place yourself first and side step your student debt in order to finance your home. 

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Pros/Cons of Truist physician mortgage loans

If you’re looking to purchase your own home, Truist has several options to choose from for financing. You don’t have to let your student debt or lack of a down payment get in the way of home ownership. You can leverage the power of your potential financial future by investing in a real estate mortgage to suit your needs. 

Here’s a bit about what Truist Physician’s Mortgages have to offer, as well as their benefits and drawbacks.   


Establishing a Truist physician’s mortgage comes with numerous benefits. 

Several mortgage options. You can obtain a variety of mortgages with no money down, or a small percentage down depending on loan amount. Truist offers:

  • 0% down up to $750,000
  • 5% down up to $1,000,000
  • 10% down up to $1,500,000

Doctors and dentists who have 10 to 15 years post-training experience can also qualify for 89.99% financing of up to $1.5 million. 

It’s important to note that certain minimum credit scores are required for each type of mortgage listed above, which are detailed below in this article. 

You can also choose from a fixed-rate or adjustable-rate mortgage. A fixed-rate mortgage may be set at a slightly higher interest rate but this won’t fluctuate up and down, providing you with predictability and stability. An adjustable-rate mortgage may be lower to begin with but can fluctuate  up and down with housing markets over time. This can potentially provide you with access to lower interest rates but it can also subject you to rising ones. 

Lower monthly payments. Truist doesn’t require you to have private mortgage insurance (PMI) which can lead to lower mortgage payments in connection with your home. 

Flexibility and refinancing. A Truist’s doctor’s mortgage can be used to either purchase or refinance a home, providing you with additional investment options. 

Full geographic availability. Unlike some physician’s mortgage lenders, Truist’s is available in all 50 states.

Multiple options. You can use your Truist doctor mortgage loan to either purchase or refinance a home. As long as this will be your primary residence, you could qualify for a mortgage. This can be particularly useful if you’re a practicing medical professional who’s been working for less than 10 years and you already own a home but you’re looking to refinance it to aid with your personal situation. 

Available to a wide range of medical professionals. Truist’s doctor home loans are available to:

  • Medical doctors
  • Doctors of osteopathic medicine
  • Podiatrists (DPM)
  • Dental surgeon (DDS)
  • Doctors of dental medicine (DMD)
  • Dental residents
  • Dental fellows
  • Medical residents
  • Medical fellows
  • Oral surgeons


As with just about any program, the Truist physician mortgage program presents a few drawbacks for homebuyers. 

Only available for certain dwellings. This program is only available for use to finance the purchase of a:

  • Single family home
  • A condo
  • A primary residence

You can’t use this mortgage to purchase a second home. In addition, if you’re purchasing a condo, you can only have access to a maximum of 95% financing.

Minimum credit score required. With this program, your student loan can be excluded from the debt component of your application if your loans have been deferred for at least 12 months at the time of closing. This being said, Truist won’t allow you to borrow outside of your debt-to-income ratio (DTI) of 43%. In addition, the following minimum credit scores are required: 

  • 100% financing up to $750,000: minimum credit score of 720
  • 95% financing up to $1 million: minimum credit score of 700
  • 89.99% financing up to $1.5 million: minimum credit score of 680

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How to apply

To apply for a Truist physician’s mortgage and speak to a loan officer, contact the bank at:

  • 844-4TRUIST (844-487-8478)
  • outside the U.S.: +1-910-914-8250

You can also find more information on this program by visiting Truist online. 

When applying for your mortgage, you will most likely be asked to provide some or all of the following information:

  • Your first, middle, and last names
  • Phone number
  • Date of birth
  • Email address

You will also need to provide additional application information for underwriting that can include:

  • Your tax returns from recent years
  • A letter indicating an offer of acceptance for your residency or fellowship
  • Information on your present debt (credit cards, student loan debt, personal finance loans, etc.)
  • Proof of education
  • Recent bank statements
  • Your social security number

Is using a Truist doctor mortgage a good idea?

A Truist doctor’s mortgage comes with specific benefits and drawbacks. The fact that you can potentially receive 100% financing for a home of up to $750,000 is great news. For borrowers who have substantial student debt and no money set aside for a down payment, this can be a positive financial opportunity. For those who have some money set aside, being able to access up to 95% financing on a home valued at $1,000,000 is also positive.

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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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