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JD MORTGAGE® connects you with lenders offering low to no down payment mortgages designed specifically for high-income professionals. We find the lenders that allow jumbo loan balances, relaxed debt-to-income ratios and typically do not require private mortgage insurance (PMI).
Offered exclusively through Biglaw Investor, we make it incredibly simple to find the best mortgage for your home financing needs.
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
For a JD Mortgage, I had good luck with IBERIABank. [They] made this process very smooth.” —Clint Cowan Lynn Pinker Hurst & Schwegmann
Known to many as the “Sunshine State,” Florida is a sunny and diverse peninsula located between the Atlantic Ocean and the Gulf of Mexico. The state is home to a number of famous attractions, including Walt Disney World, Sea World, and the beautiful natural world of the Everglades.
The latest data shows that year-over-year, Florida had the highest home price gain in May of 2022, totaling a significant 33.2 percent increase. In fact, Florida has seen an increase of 78% in the value of homes over the past five years.
Even for the over 56,000 doctors in the state of Florida, purchasing a home can be intimidating, given these numbers. As an alternative to conventional mortgages, it may be possible for doctors, dentists and other professionals to take advantage of the state’s physician mortgage loan program. For those that qualify, this could eliminate the need for a down payment to buy a home in the state of Florida.
Given the high prices for homes in Florida, you will be entering into a serious financial commitment when you take out a physician mortgage loan. For that reason, it’s important to first weigh the pros and cons involved. Unlike a refinance, a physician home loan is used to buy new property. Healthcare professionals use this to avoid having to save substantial down payments, which can be very difficult during residency. Many residents or early career physicians leverage their job offer to help qualify for home ownership with mortgage lenders through special physician home loans.
The list of pros related to doctor mortgages is impressive and includes:
Also, banks and lenders who offer doctor mortgages to professionals give special consideration to student debt. Since many professionals such as doctors incurred a good deal of debt during their education, this can be a very significant “pro.”
There are cons involved, too, including:
Of course, if you do take out funds through a doctor loan program, you will likely have a long-term beneficial relationship with the bank. This can be seen as a pro by most, but some might not want to commit, including the potential of having to open an account with a bank.
If you’re in the market for a home in Florida, consider these physician mortgage loans that are available to state residents.
• Online
usually responds within 30 minutes
Medical doctor (MD); Dentist (DMD, DDS); Podiatrist (DPM), Fellows, Residents
$500M+ Closed Loans
TD Bank is one of our top professional mortgage lenders.
Eligible professionals must be within 10 years of graduating residency/fellowship to be eligible for this program. The program has flexibility with student loan calculations, sometimes counting $0 payments. You can close a TD Bank loan prior to starting new employment as long as you have an employment contract in hand. Reserve requirements funds can be gifted or be in retirement accounts. [ Read Review ]
Medical doctor (MD); Dentist (DMD, DDS); Chiropractor (DO); Podiatrist (DPM), Fellows, Residents
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 5% | up to $1.5 million |
| 10% | $1.5+ million |
• Online
usually responds within 30 minutes
Medical doctor (MD/DO); Dentist (DMD, DDS), Pharmacist (Pharm D), Attorney (JD), Veterinarian (DVM), Physician Assistant, Registered Nurse (RN/NP/CRNA), ATP Pilots, CPA
$500M+ Closed Loans
Flagstar Bank was chartered in 1987 and holds around $23 billion in assets, making it a medium sized bank. However, they punch above their weight when it comes to mortgages.
The bank is the sixth largest bank mortgage originator nationally. They only offer ARM products when it comes to doctor mortgages but their ability to lend in all 50 states means they're a player at every closing. There is no application fee or prepayment penalties. They also offer a float down, buy down, and recast option. [ Read Review ]
Medical doctor (MD/DO); Dentist (DMD, DDS), Pharmacist (Pharm D), Attorney (JD), Veterinarian (DVM), Physician Assistant, Registered Nurse (RN/NP/CRNA), ATP Pilots, CPA
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 5% | up to $1.5 million |
| 20% | up to $2 million |
• Online
usually responds within 30 minutes
Medical doctor (MD); Dentist (DMD, DDS); Fellows, Residents
$500M+ Closed Loans
Citizens Bank is one of the largest banks in the United States. We bet you didn't know that it is head-quartered in the smallest state: Rhode Island.
With over $160 billion in assets, it's no surprise that Citizens offers a full range of financial products, including a physician loan. New medical professional graduates who are under contract for residency within 60 days of closing and have not yet obtained a license are eligible. No more than 10 years out of residency. Self-employed professionals are eligible with a two-year history of self-employment income. [ Read Review ]
Medical doctor (MD); Dentist (DMD, DDS); Fellows, Residents
| Down payment | Financing |
|---|---|
| 5% | up to $850 thousand |
| 10% | up to $1 million |
| 15% | up to $1.5 million |
• Online
usually responds within 30 minutes
Medical doctor (MD); Dentist (DMD, DDS); Podiatrist (DPM), Veterinarian (DVM), Fellows, Residents
$500M+ Closed Loans
Huntington Bank operates primarily out of the Midwest.
Huntington's mortgage group can service a large part of the country. Huntington has a competitive physician loan product with no money down financing options.. You can close a Huntington Bank loan prior to starting new employment as long as you have an employment contract in hand. [ Read Review ]
Medical doctor (MD); Dentist (DMD, DDS); Podiatrist (DPM), Veterinarian (DVM), Fellows, Residents
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 5% | up to $1.25 million |
| 10% | $2 million |
• Online
usually responds within 30 minutes
Medical doctor (MD); Dentist (DMD, DDS); Optomestrist (OD); Podiatrist (DPM); Fellows, Residents
$500M+ Closed Loans
Bank of America is one of the original lenders (if not THE original lender) in the physician mortgage space. With over $3 trillion in assets, it’s one of the largest banks in the United States and chances are good that you are familiar with the company.
The Bank of America physician mortgage program is available for residents and fellows with a job lined up. They can close on a home 90 days before they start. You can often exclude your student debt from your total debt when you apply for a mortgage. [ Read Review ]
Medical doctor (MD); Dentist (DMD, DDS); Optomestrist (OD); Podiatrist (DPM); Fellows, Residents
| Down payment | Financing |
|---|---|
| 5% | up to $1 million |
| 10% | up to $1.5 million |
| 20% | up to limit |
• Online
usually responds within 30 minutes
Medical doctor (MD, DO); Dentist (DMD, DDS); Veterinarians (DVM), CRNA, Fellows, Residents
$50M+ Closed Loans
First National Bank of Pennsylvania is the second largest bank based in Pennsylvania and has an aggressive doctor mortgage program with 0% financing up to $1.25 million.
The First National Bank of Pennsylvania physician mortgage program is open to most medical professionals and has a construction to permanent loan option available for medical professionals that want to combine the benefits of a doctor mortgage with a new construction custom build home. [ Read Review ]
Medical doctor (MD, DO); Dentist (DMD, DDS); Veterinarians (DVM), CRNA, Fellows, Residents
| Down payment | Financing |
|---|---|
| 0% | up to $1.25 million |
| 10% | up to $1.5 million |
• Online
usually responds within 30 minutes
Medical doctor (MD/DO); Dentist (DMD, DDS), Podiatrist (DPM), Fellow, Resident
$500M+ Closed Loans
Truist was formerly known as SunTrust and has historically been a strong player in the doctor mortgage world, thanks to a strong physician home loan program.
Medical professionals with a job offer can close up to 90 days prior to the start date. For doctors and dentists with 10 to 15 years post-training experience, 89.99% financing is available for up to $1.5 million. Truist won’t let you borrow outside of your debt-to-income ratio of 43%, but your student loan payment can be excluded from the debt component if the student loans are deferred for at least 12 months at the time of closing. [ Read Review ]
Medical doctor (MD/DO); Dentist (DMD, DDS), Podiatrist (DPM), Fellow, Resident
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 5% | up to $1.5 million |
| 20% | up to $2 million |
• Online
usually responds within 30 minutes
Medical doctor (MD/DO); Lawyers(JD), Residents, Fellows
$500M+ Closed Loans
US Bank has a great doctor mortgage program but it isn't advertised on the bank's website. You'll have to contact them directly.
US Bank is able to lend in all 50 states, meaning this program is available to most of the country's doctors and physicians. The downside is that the program is fairly limited. For example, dentists, pharmacists and nurses aren't eligible. [ Read Review ]
Medical doctor (MD/DO); Lawyers (JD), Residents, Fellows
| Down payment | Financing |
|---|---|
| 5% | up to $1 million |
| 10% | up to $1.5 million |
| 15% | up to $2 million |
• Online
usually responds within 30 minutes
Medical doctor (MD, DO); Dentist (DDS, DMD); Veterinarian (DVM), Resident, fellows
$50M+ Closed Loans
The Federal Savings Bank is a nationwide mortgage lender, although their physician program isn't available in all states.
The Federal Savings Bank's physician mortgage program is available for primary residences, including 1-2 unit residential properties (although you can't use the rental income from the other unit to meet the DTI requirements). The bank can work with 1099 income and can close on mortgages up to 90 days prior to starting a job. They can also handle mortgages with H1B visa holders. [Read Review]
Medical doctor (MD, DO); Dentist (DDS, DMD); Veterinarian (DVM), Resident, fellows
| Down payment | Financing |
|---|---|
| 0% down | up to $1 million |
| 5% down | up to $1.25 million |
| 10% down | up to $2 million |
• Online
usually responds within 30 minutes
Medical doctor (MD, DO); Dentist (DMD, DDS); Fellows, Residents
$50M+ Closed Loans
Synovus Bank is headquartered in Columbus, Georgia and offers a doctor mortgage program to people in the medical field.
Synovus Bank's doctor mortgage program is specifically designed to cater to the unique financial needs of medical professionals. This program offers specialized mortgage options that include low down payments and flexible terms, tailored for doctors at different stages of their careers. Synovus focuses on providing customized financial solutions to assist medical professionals in buying or refinancing their homes. [Read Review]
Medical doctor (MD, DO); Dentist (DMD, DDS); Fellows, Residents
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 10% | up to $2 million |
• Online
usually responds within 30 minutes
Medical doctor (MD); Dentist (DMD, DDS)
$500M+ Closed Loans
PNC Bank is an established player in the mortgage industry that ranks 8th largest by total assets in the country.
PNC Bank's doctor mortgage program is a specialized loan offering designed to assist medical professionals in achieving their homeownership goals. The program offers a low down payment, no private mortgage insurance requirement, and higher loan limits. It caters to a wide range of medical professionals including MDs, DOs, DDSs, DMDs, and others, even allowing residents and fellows to qualify. [ Read Review ]
Medical doctor (MD); Dentist (DMD, DDS)
| Down payment | Financing |
|---|---|
| 5% | up to $1 million |
| 10% | up to $1.5 million |
| 15% | up to $1.765 million |
• Online
usually responds within 30 minutes
Medical doctor (MD); Dentist (DMD, DDS); Fellows, Residents
$50M+ Closed Loans
BankMD is a division of TransPecos Banks and one of the few specialized physician lenders in the country.
The BankMD physician mortgage program has a 44% DTI ratio requirement and can be used for 1099 doctors who are less than one year into their job. [ Read Review ]
Medical doctor (MD); Dentist (DMD, DDS); Fellows, Residents
| Down payment | Financing |
|---|---|
| 10% | up to $850 thousand |
| 15% | up to $1 million |
| 20% | up to $2 million |
• Online
usually responds within 30 minutes
Medical doctor (MD, DO); Dentist (DMD, DDS); Pharmacists, Chiropractor, Veterinarian, Fellows, Residents
$50M+ Closed Loans
Wintrust is headquartered in Illinois but can lend in all 50 states (unfortunately, their doctor program is not available everywhere). They originate in excess of $4 billion in mortgages annually.
The Wintrust physician mortgage program can use 1099 contract income to qualify for underwriter approval. Student loan payments aren't included in the DTI calculation if there is no scheduled student loan payment for the next 12 months. [ Read Review ]
Medical doctor (MD, DO); Dentist (DMD, DDS); Pharmacists, Chiropractor, Veterinarian, Fellows, Residents
| Down payment | Financing |
|---|---|
| 0% | up to $850 thousand |
| 3% | up to $1.25 million |
| 5% | up to $1.5 million |
| 10% | up to $2 million |
• Online
usually responds within 30 minutes
Medical doctor (MD, DO); Dentist (DMD, DDS); Optometrist (OD), Fellows, Residents
$50M+ Closed Loans
Happy Mortgage is a division of Centennial Bank and has a doctor mortgage and construction loan program for many medical professionals.
The Happy Mortgage physician mortgage program has a 0% down option that can also be used for construction projects, making Happy Mortgage a good option to review if you plan to build a custom home. They also have second home financiang options for medical professionals looking to use a doctor mortgage for a vacation property. [ Read Review ]
Medical doctor (MD, DO); Dentist (DMD, DDS); Physician Assistant (PA), Veterinarians (DVM), Nurse (NP, CRNA), Fellows, Residents
| Down payment | Financing |
|---|---|
| 0% | up to $750 thousand |
| 5% | up to $1.25 million |
| 10% | up to $1.5 million |
• Online
usually responds within 30 minutes
Medical doctor (MD/DO), Dentist (DMD/DDS), Podiatrist (DPM)
$10M+ Closed Loans
Laurel Road used to be an independent bank but is now owned by Keycorp and part of the Keybank family. They focus on financial products for healthcare professionals.
Laurel Road has a middle of the road doctor mortgage program. It's available in all 50 states but limited to healthcare professionals and only goes up to $1 million. Retired doctors are not eligible. [ Read Review ]
Medical doctor (MD/DO), Dentist (DMD/DDS), Podiatrist (DPM)
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
• Online
usually responds within 30 minutes
Medical doctor (MD/DO); Oral Surgeons (OMS), Podiatrist (DPM)
$500M+ Closed Loans
First Horizon Bank has one of the hottest doctor mortgages available as they can lend up to $1.5 million at 0% down.
Being able to lend such a large amount at 0% down is particularly helpful in states like New Jersey, New York and Texas where home prices have risen sharply in the past decade. The only downside is that the program has strict eligibility requirements and folks like dentists and lawyers aren't eligible. [ Read Review ]
Medical doctor (MD/DO); Oral Surgeons (OMS), Podiatrist (DPM)
| Down payment | Financing |
|---|---|
| 0% | up to $1.5 million |
| 5% | up to $2 million |
| 10% | up to $2.5 million |
• Online
usually responds within 30 minutes
Medical doctor (MD/DO), Dentist (DMD/DDS), Veterinarians (DVM)
$10M+ Closed Loans
Alerus is a national bank but one that you might not know. They are headquartered in North Dakota but provide mortgage across the country.
Alerus has some other interesting features, including a $20,000 closing guarantee. It's a benefit paid to the seller if the loan doesn't close per the terms of the pre-approval letter. In other words, it's something you can use to make your offer look more attractive in a competitive market. [ Read Review ]
Medical doctor (MD/DO), Dentist (DMD/DDS), Veterinarians (DVM)
| Down payment | Financing |
|---|---|
| 0% | up to $750 thousand |
| 5% | up to $1 million |
| 10% | above $1.5 million |
• Online
usually responds within 30 minutes
Medical doctor (MD/DO), Dentist (DMD/DDS), Podiatrist (DPM)
$10M+ Closed Loans
Keybank is a major national bank based in Ohio with a competitive doctor mortgage program. They also lend across a large part of the United States.
The Keybank doctor mortgage program does not require you to be a minimum or maximum number of years out of medical school to qualify. They also offer large mortgage options if needed and part of your down payment can be supplied in money that you've received as a gift. [ Read Review ]
Medical doctor (MD/DO), Dentist (DMD/DDS), Podiatrist (DPM)
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 5% | up to $1.5 million |
| 15% | above $2 million |
• Online
usually responds within 30 minutes
Medical doctor (MD); Dentist (DMD, DDS); Fellows, Residents
$50M+ Closed Loans
City National Bank of Florida is a medium-sized bank with over $22 billion in assets. Altough they are headquartered in Florida, sometimes they are able to lend in states outside of Florida.
The City National Bank of Florida physician mortgage program is available for primary residences and vacation homes. They can accept credit scores as low as 660 but to achieve the best rates you will need a score of 720. Self-employed individuals need to provide 2 years of income verification. [ Read Review ]
Medical doctor (MD); Dentist (DMD, DDS); Attorneys (JD), CPAs, Fellows, Residents
| Down payment | Financing |
|---|---|
| 5% | up to $850 thousand |
| 10% | up to $2.5 million |
| 15% | up to $1.5 million |
• Online
usually responds within 30 minutes
Medical doctor (MD, DO); Dentist (DMD, DDS); Optometrist (OD); Veterinarian (DVM), Fellows, Residents
$50M+ Closed Loans
Fifth Third is a large bank with an established doctor mortgage loan program that is available to doctors, dentists, optometrists and veterinarians.
The Fifth Third physician mortgage program is also available for innterns, residents or fellows that are starting their residency within 90 days of closing on a new home. [ Read Review ]
Medical doctor (MD, DO); Dentist (DMD, DDS); Optometrist (OD); Veterinarian (DVM), Fellows, Residents
| Down payment | Financing |
|---|---|
| 0% | up to $1 million |
| 5% | up to $1.5 million |
| 10% | up to $2 million |
It’s always important to assess thoroughly whether or not a mortgage is the right fit for you and your finances. A first consideration should involve taking a thorough look at your career and where you see yourself going in the future. Do you foresee yourself staying in your current position for a long time? Or, do you imagine that you will find a new job in short order? Only commit to a doctor mortgage if you believe you will stay on your current career track.
Also, have you considered that you might be paying a higher interest rate, if you take out a physician mortgage loan? For many individuals, a few points extra on a loan is a fair trade for all the advantages you get with a doctor mortgage. If you would rather find a lower rate, maybe the time is right to hold off and save up toward a large down payment on a conventional mortgage.
Let’s take a moment now to look at some of the individuals taking out physician loans in Florida. These are examples of just some of the professionals benefitting from these financial products in the Sunshine State.
Montell is about to start a pediatric fellowship at Nemours Children’s Hospital in Orlando. His career is on track, and he plans on staying in the city permanently. He has a signed contract in hand, and will be starting his job in a month.
Finding a mortgage has proven difficult; conventional loans don’t like how much student debt he is currently holding. Plus, some conventional lenders have recommended that he wait until he has been in his new job for several months.
The time to buy for Montell is now; he will be too busy with his fellowship afterwards. Fortunately, a doctor mortgage gives special consideration to his debt and will accept his signed contract as sufficient proof of income and employment.
Sue is a family dentist in Tallahassee. She has a large family, and they are looking for a bigger home. The difficulty is that she doesn’t have a 20 percent down payment at the moment.
She has put a lot of cash into her practice and, of course, her family’s needs. A doctor mortgage is the only way she can finance a home. Fortunately for Sue, a local bank is offering professionals at her income bracket mortgages with 100% financing.
If you’re looking to explore the best physician loans in other states, click on your state below.
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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