Physician Loans in Virginia


You’re our first priority. We want you to understand how we make money. This post may contain affiliate links. Biglaw Investor may receive a commission at no additional cost to you if you click on the links in this article. This may influence which products we write about and where and how the products appear on a page. However, it does not influence our evaluations. Our opinions are our own. In some circumstances, if you work with us, we are able to provide an incentive to work with our advertising partners that is unavailable if you work with our advertising partners directly. Our partners cannot pay us to guarantee favorable reviews of their products or services. To read more about how we make money, click here.

Find a Physician Mortgage lender

Special Loans for Doctors

Find a home you love

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.

Get Your Mortgage Rate

find a home you love

JD Mortgage® Compares Top Lenders

PrimeLending logo UMB logo Flagstar Bank logo First National of Nebraska logo PNC Bank logo First Horizon Bank logo Fairway logo

And many more

Other professionals love us.

We think you will too.

Let’s Get Started
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

12 Best Hidden Doctor Mortgage Loans in Virginia

Key Terms

  • A Virginia physician mortgage loan comes with high loan limits and options for up to 100% financing.
  • Student loan payments typically receive favorable treatment with a doctor loan, making it easier for borrowers qualify for a mortgage.
  • Physician mortgages don’t require private mortgage insurance (PMI) even with a 0% down payment.

Virginia is a beautiful state that spans from the Chesapeake Bay to the beautiful mountains in the Appalachian range. It has a long coastline noted for its beautiful beaches. Inland, it’s easy to find numerous historically important locations including Thomas Jefferson’s iconic home Monticello. 

It is also rapidly expanding in the North and turning into one of the central hubs for professionals in the U.S. With all of its advantages, Virginia is a great place for professionals, including almost 23,000 working doctors

The real estate market is competitive in Virginia. The median sale price for homes is $401,081 for the year, an 8.7% rise from the previous year. In total, $6.6 billion in sales occurred in the state last year. Yet, limited inventory has led to fast-growing values, according to Virginia Realtors

For home buying in this type of market, it helps to have access to the Virginia physician mortgage loan program. For qualified doctors and dentists, this is a key opportunity to buy or refinance at a lower risk with low- or no down payment requirements.  

Show Me Lenders

Virginia physician mortgage loans: Advantages and disadvantages

Are you considering a Virginia physician mortgage loan? Then you may want to think about the pros and cons first. 

Doctors may find the pros particularly appealing, since they are designed to their specific needs:

  • A physician loan gives special consideration to medical school student debt.
  • These mortgages have high loan limits, giving you more purchasing power in the expensive Virginia housing market.
  • A doctor mortgage can come with 100 percent financing, or no money down.
  • You never have to take out private mortgage insurance (PMI) with one of these mortgages, often resulting in lower monthly payments.

There are a few prices to pay for all these advantages, including the fact that a doctor mortgage can have a higher interest rate than you might see on a conventional loan. Your lender can also request that you establish a checking or savings account with them. All in, many doctors in Virginia still believe that physician loans are well worth it. 

Get Quotes for Your Physician Loan

12 Best Virginia physician home loan lenders

If you’re in the market for a home in Virginia, consider these physician mortgage loans that are available to state residents.

Match Banks Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD); Dentist (DMD, DDS); Chiropractor (DO); Podiatrist (DPM), Fellows, Residents

TD Bank

(CT, DE, DC, FL, MA, MD, ME, NC, NH, NJ, NY, PA, RI, SC, VT, VA)

$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 ]

Eligible degrees & accreditations:

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
  • Minimum credit score: 720
  • Maximum loan: Exceptions made
  • Residents / fellows accepted without prejudice: Yes
  • Construction loans available: Yes
  • Debt ratio allowed: 43%
  • Rate options: ARM and Fixed
Match Banks Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD/DO), Dentist (DMD/DDS), Podiatrist (DPM)

Keybank

(All 50 States)

$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 ]

Eligible degrees & accreditations:

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
  • Minimum credit score: 700
  • Maximum loan: Contact to discuss
  • Residents / fellows accepted: Yes
  • Construction loans available: Yes
  • Income history: Not required
  • Rate options: Fixed and ARMs
Match Banks Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD); Dentist (DMD, DDS); Podiatrist (DPM), Veterinarian (DVM), Fellows, Residents

Huntington Bank

(CO, IL, IN, KY, MI, MN, ND, OH, PA, SD, WI, WV)

$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 ]

Eligible degrees & accreditations:

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
  • Minimum credit score: 700
  • Maximum loan: $2 million
  • Residents / fellows accepted without prejudice: Yes
  • Construction loans available: No
  • Required reservers: 2 months
  • Rate options: ARM and Fixed
Match Banks Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD); Dentist (DMD, DDS); Optomestrist (OD); Podiatrist (DPM); Fellows, Residents

Bank of America

(All 50 States)

$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 ]

Eligible degrees & accreditations:

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
  • Minimum credit score: Not reported
  • Maximum loan: Exceptions made
  • Residents / fellows accepted without prejudice: Yes
  • Construction loans available: No
  • Required reservers: 4–6 months
  • Rate options: ARM and Fixed
Match Banks Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD, DO); Dentist (DMD, DDS); Veterinarians (DVM), CRNA, Fellows, Residents

First National Bank of Pennsylvania

(DE, FL, GA, MD, NJ, NC, NY, OH, PA, SC, TN, VA, DC, WV)

$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 ]

Eligible degrees & accreditations:

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
  • Minimum credit score: 700
  • Maximum loan: $1.5 million
  • Residents / fellows accepted without prejudice: Yes
  • Construction loans available: Yes
  • Required reservers: Not reported
  • Rate options: ARM and Fixed
Match Banks Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD/DO); Oral Surgeons (OMS), Podiatrist (DPM)

First Horizon Bank

(AL, AR, CT, GA, FL, LA, MS, NC, NJ, NY, SC, TN, TX, VA)

$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 ]

Eligible degrees & accreditations:

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
  • Minimum credit score: 680
  • Maximum loan: $2.5 million
  • Residents / fellows accepted: No
  • Construction loans available: Yes
  • Income history: Not required
  • Rate options: Fixed and ARMs
Match Banks Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD/DO); Dentist (DMD, DDS), Podiatrist (DPM), Fellow, Resident

Truist

(AL, AR, CA, CT, DC, DE, FL, GA, IN, KY, MA, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV)

$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 ]

Eligible degrees & accreditations:

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
  • Minimum credit score: 680
  • Maximum loan: Contact to discuss
  • Residents / fellows accepted: Yes
  • Construction loans available: Yes
  • Income history: Not required
  • Rate options: Fixed and ARMs
Match Banks Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD/DO); Lawyers(JD), Residents, Fellows

US Bank

(All 50 states)

$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 ]

Eligible degrees & accreditations:

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
  • Minimum credit score: 700
  • Maximum loan: Contact to discuss
  • Residents / fellows accepted: Yes
  • Construction loans available: Yes
  • Income history: Not required
  • Rate options: Fixed and ARMs
Match Banks Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD, DO); Dentist (DDS, DMD); Veterinarian (DVM), Resident, fellows

The Federal Savings Bank

(CO, CT, DC, DE, FL, GA, IA, IL, IN, KY, ME, MD, MA, MI, MN, MS, MO, MT, NJ, NY, NC, ND, OH, OR, PA, SC, SD, TN, TX, UT, VA, WA, WV, WI, WY)

$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]

Eligible Professions:

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
  • Minimum credit score: 680
  • Maximum loan: Exceptions made
  • Residents / fellows accepted without prejudice: Yes
  • Construction loans available: No
  • Required reservers: Not reported
  • Rate options: ARM and Fixed
Match Banks Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD/DO), Dentist (DMD/DDS), Podiatrist (DPM)

Laurel Road

(All 50 States)

$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 ]

Eligible degrees & accreditations:

Medical doctor (MD/DO), Dentist (DMD/DDS), Podiatrist (DPM)

Down payment Financing
0% up to $1 million
  • Minimum credit score: Not disclosed
  • Maximum loan: Contact to discuss
  • Residents / fellows accepted: Yes
  • Construction loans available: No
  • Income history: Not required
  • Rate options: Fixed and ARMs
Get Quotes Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD); Dentist (DMD, DDS)

PNC Bank

(All 50 States)

$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 ]

Eligible degrees & accreditations:

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
  • Minimum credit score: 720
  • Maximum loan: $1,7650,000
  • Residents / fellows accepted: Yes
  • Gift funds accepted: Yes
  • Income history: Can lend up to 90 days prior to start date
  • Rate options: ARM and Fixed

Fulton Bank

Fulton Bank is a subsidiary of Fulton Bank, a financial institution that traces its roots back to 1882. The bank and mortgage company offer a full suite of financial products, including an attractive physician loan program.

We contacted Fulton Bank to get more details about the doctor mortgage specifically and we think you’re going to like a lot of the terms. Here are the important details:

  • 0% down up to $1,000,000
  • 5% down up to $1,500,000
  • 10% down up to $2,000,000
  • 30 and 15 year fixed rate options as well as adjustable rate options (5/1, 7/1, 10/1, and 15/1)
  • No mortgage insurance
  • Up to 6% seller paid closing costs and prepaids are allowed
  • Gift funds from immediately family members allowed
  • Student loans deferred for 12 months or longer are not included in the credit approval process
  • You can close on a house up to 90 days prior to start of new employment with an employment contract
  • Physicians, Pharmacists, Dentists and Veterinarians are eligible for the program

When you’re ready to connect with a loan officer experienced in doctor mortgages, use our form to quickly match with eligible loan programs based on your specific circumstances.

Is a Virginia physician mortgage loan right for you?

Virginia doctor mortgage loans are great fits for doctors who are still carrying student debt. Especially in the early years of your medical career, student and credit card debt can make it hard to qualify for a conventional mortgage. These loans treat student debt differently, making the approval and home buying process much easier. 

Even if your DTI ratio (debt-to-income ratio) is doing well, you may still want to take advantage of a physician loan. Their higher loan limits give you more options for homeownership, while no PMI means you can save a bit of money on your mortgage payments over conventional loans, especially if you find a great rate. 

Examples of doctors who take out physician loans in Virginia

From Leesburg to Richmond, doctors across the Commonwealth are enjoying the benefits of physician loans. The following summaries illustrate how just a few homeowners are benefitting from these helpful mortgage options for high-earning healthcare professionals. 

Doctor who finds a great interest rate

Marquise doesn’t want to pay a lot for a loan. For that reason, he did most of his mortgage shopping with conventional lenders at first. He just heard from a colleague at his Richmond pediatrics practice that a lender in the area is offering physician loans at a competitive rate. Considering all the other doctor-friendly advantages that come with one of these loans, he’s decided to go with a doctor mortgage in financing his new home. 

Doctor who has too much debt from school

Having spent so much time focused on work and studies, Barbara never gave a thought to what all her student loans would do to her chances of getting approved for a mortgage. Since she is still a resident, her income isn’t swinging the dial enough, and conventional lenders are turning her down. 

A doctor mortgage doesn’t look at her student debt in the same way, understanding that it’s ‘good’ debt that has helped her establish herself as a high-earning professional. Barbara decides to go with a physician loan and is able to buy a small cottage-style home in the suburbs of Charlottesville. 

Looking for a physician loan in a different state?

If you’re looking to explore the best physician loans in other states, click on your state below.

Find a Physician Loan Specialist

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.

Save more money than your friends

One email each week covers personal finance, financial independence, investing and other stuff for lawyers that makes you better.