FAQ – Doctor Mortgage Loan


Frequently Asked Questions – Doctor Mortgage Loan

Q: Who qualifies for the Doctor Loan, Dentist Loan and Physician loan?


Final year Medical School Graduates (close 60-90 days prior to Residency start)
Resident (MD)
Fellow (MD)
Attending (MD)
Physician and Doctor (MD) – High Tenure Doctor and other Professionals now also eligible
Doctor of Ophthalmology (MD)
Doctor of Osteopathy (DO)
Doctor of Podiatry (DPM)
Doctor of Dental Science (DDS)
Doctor of Dental Medicine (DMD)

Q: Is the program available in all 50 states?

A: We are not in all states presently. State eligibility changes more frequently today than in previous years. Currently 21 states are eligible and we are always exploring acquisitions to expand our services to new Hospitals, Medical Groups and for Doctors across the country.

Important: Please fill out our short contact form called “Inquire Now or Contact Us” located throughout our site so that we may determine if your state is eligible for the program. You will receive feedback within 1 hour!

Q: Are there any fees associated with using Physician Trust Mortgage Network?

A: Absolutely not – We are a “complimentary referral network”

Our mission is to ensure that our clients, the Doctor, and the entire Medical Community which includes presently Hospital HR departments, Physician Groups, Medical Universities are provided with unmatched mortgage terms and communication.
Physician Trust Mortgage is a not for profit platform inspired and designed by Physicians for Physicians.
Our sole purpose is to work as liaison between our Banking Affiliates and the Medical Community.
Our staff specializes with assisting Doctors on a daily basis through our Private Bank operation as well.
There are no fees, obligations, requirements or pre-payments whatsoever. Unlike several other online offerings – Physician Trust Mortgage has no fees whatsoever.

Q: Can I refinance with a Doctor loan program?

A: Yes you may and there are provisions to allow up to 100% loan to value and still receive a Preferred Client Rate and all terms are available. Condos and all attached housing allowed.

Q: Do I have to be a U.S Citizen or Permanent Resident to qualify?

A: No but you must have a valid H1B or O1 Visa, provide a copy of your Passport, along with your driver’s license.

Q: If I am still a Medical Student and not near graduation, can I qualify for the doctor loan?

A: You are eligible upon Medical School graduation. You will need to provide your “Match Day” letter assigning you to your Resident program. This letter should include position, start date, and salary. And we will allow you to close on your new home up to 90 days prior to starting your new Residency assignment.

Q: Can I get the Doctor loan before I actually start my Residency?

A: Absolutely – “Make your Match Day Easier” – you just have to provide your “Match Day” letter and later your fully executed Residency contract just before you close on your new home. Since you will usually receive your employment contract 3-4 weeks after “Match Day” there is rarely a timing problem with closing on your new home within a reasonable amount of time after graduation. We will allow you to close on your new home up to 90 days prior to starting your new Residency assignment.
It is very important that you have enough reserve funds to cover the number of months between closing the mortgage and your Residency start date. Our experienced Mortgage Bankers will help you with these logistics to ensure your file is positioned for approval

Q: My student loans are deferred currently, but will the Doctor Loan program allow the future scheduled payments to not be counted in my debt-to-income ratio?

A: Yes – willing your medical status is classified as a Resident or Fellow and your credit report states “student loan – deferred payment” or “student loan – forbearance” which typically the bureaus do, then your student loan debt will NOT be included in the approval analysis.

Q: How do student loan payments affect Established Doctors and Dentists with being approved for the program?

A: Regardless of the type of mortgage program you are eligible for, your student loans in this case must be calculated into your debt ratio because you are beyond your training with Residency and Fellowship.

Q: What does my Credit Score need to be for the Doctor Loan?

A: Your middle or median score must be a minimum of 680, and based upon desired down payment higher scores may be required. If after being contacted by our Mortgage Consultant it is determined that your credit score is not where it needs to be then you will be offered advice on how the raise the score by removing any credit errors and special means of “Rapid Re-Score”.
This is unique to Physician Trust Mortgage and our mortgage professionals have assisted many Doctors in raising their scores, and making home ownership available without waiting months on months for the score to rise.

Q: What are the loan options available for the Doctor Loan?

A: There are several great options available – 30 year fixed, 25 year fixed, 20 year fixed, 15 year fixed, 10 year fixed, 10/1 Fixed/ARM, 7/1 Fixed/ARM , 5/1 Fixed/ARM. Physician Trust Mortgage is an affiliate of only the most versatile and aggressive financing options being offered in the industry today.

Q: What property types are eligible for the 100% financing Doctor Loan?

A: Primary residence as:

  • Single Family Homes
  • Townhomes
  • Condominiums

Note that most lender’s and/or Banks will not allow for “attached housing” at the high loan to values with the No PMI position within this Doctor program – However we worked tirelessly to bring this latitude to our clients. We encourage you to share this fact with your fellow medical colleagues and associates. Residents appreciate this because attached housing is typically their choice in housing due to being less expensive and easier and maintain with a busy work schedule.

Q: Because this is such a unique program, will I be faced with a higher rate and/or fees?

A: Absolutely not.
In addition to 100% financing and No Mortgage Insurance (No PMI), this program has favorable Private Bank Client rates and the fees are completely standard or better than most conventional mortgage programs with other lenders. Our trusting and experienced mortgage bankers will make absolutely sure that your terms are the best the industry can provide at that time. Often we will offer special time sensitive promotions waiving process and underwriting fees as well as reductions to rate.
We have endless testimonies to support our sincere delivery of this program.

Q: Aren’t there other loans out there with better terms?

A: As of right now, the Doctor Loan is the ONLY conventional mortgage loan available that requires No Down Payment with No Mortgage Insurance.
That in itself makes this program offering unmatched with other lenders. In addition, the Residents and Fellows deferred student loans do not count towards the debt ratio. Most all Resident and Fellow Doctors would not qualify without the latitude this program offering provides.
Our most sought after Banking Consultants will help ensure your student loans are positioned correctly on your credit before your file is released to process. This is extremely important to ensure approval. Our credit group is also experienced with making these needed changes at the Credit Bureau level.

Q: What is MI and PMI?

A: Mortgage Insurance (MI) or Private Mortgage Insurance (PMI) have the same meaning and is NOT required by the Physician Trust Mortgage Network.
Established Doctors, Residents, Fellows, Attending and Dentist, have been deemed less risky by our senior risk analysts and have made a huge exception to standard lending policy to waive the mortgage insurance requirement.
We encourage you to take full advantage of this offering and contact us today!

As further explanation, other common place lenders without the strength and stability simply cannot afford to make this exception and therefore require it as part of the client’s payment. The insurance is to offset losses taken by these lenders should you one day not be able to make your payment. The savings to you can range anywhere from $50 to excess of $650+/month.

Physician Trust Mortgage is affiliated with only the most stable of lenders. PMI is not required on any of the Doctor Loan terms provided.

Q: What is a declining market policy?

A: Great question – A declining market is an area within our country that is determined to be declining by specific area appraiser’s and National Agencies. A property found to be in a declining market will require some lenders to increase your down payment by a minimum of 5%.
However, Physician Trust Mortgage  is NOT requiring additional down payment within any declining markets at this time. Always ask any other lender should you speak with them if they have a declining market policy – and do not use them if they do – as you may find yourself having to place more cash down than you were prepared for at beginning the loan process. This could place you sales contract in default and you could lose your earnest money deposit. So be careful and allow Physician Trust Mortgage to assist you today!

Q: What does Physician Trust Mortgage do with my contact information?

A: We place only one of our trusted Mortgage Banking Officer’s in contact with you directly. Our National Banking Officer is State specific and has only one objective which is to approve your request for the home you wish to buy. Your contact information goes no further than the individual contact with our selected Banking Officer and remains within our corporate record holdings. This is one of our core values within privacy and security policy.

Q: Is Physician Trust Mortgage a lender, bank or mortgage broker?

A: We are a mortgage network facilitation platform “Inspired by Physicians for Physicians” for the purpose of connecting those eligible with trusted lenders that have been determined after much due diligence and vetting to have the lowest Preferred rates, lowest borrower fees, and can deliver service excellence in this difficult mortgage and real-estate market.

Q: After I submit my information, when can I expect to hear from a lender?

A: Uniquely – You will be contacted within 1 Hour of submitting the request for pre-qualification or additional information.
In the rare case that you are not contacted within 1 Hour please get back in touch with us and we will do what is needed to have someone contact you immediately.

Q: How will a lender contact me?

A: Willing you use the “Inquire Now” or “Contact Us” tabs located throughout the web site you will receive a prompt phone call and later an email to confirm your request.
Our Banking Officer will call and email you to discuss the details of the loan program as it relates to your needs and concerns.

Our lending partners are very sensitive to your busy schedule and will always respect your time and will be excited to help you. Most of these Senior Mortgage Consultants are available to you 7 days per week via cell phone, email and texting. Real-Estate transactions are demanding and our partners will do whatever is necessary to see that you are cared for, and meet the terms of your sales contract.

Q: Will my information or email address be shared or sold to other unrelated companies?

A: Absolutely not.
We do not publish, list or sell your private information to anyone including the lender you are connected with, and there your information is kept in the highest of security.

Our mission is to ensure that the Doctor and our Medical Community is provided with only the very best in mortgage terms. Physician Trust Mortgage is a not for profit platform designed by our program developers and Doctors – exclusively for Doctors. Our sole purpose is to connect the client with lenders that they do not have access to within Private Bank operations, and assist Doctors on a routine basis. There are no fees, obligations, requirements or pre-payments whatsoever. Unlike other online offerings, Physician Trust Mortgage will not collect a fee. For more information, see our privacy and security policy.

Q: Is it difficult for me to work with a lender that does not live in my area or State?

A: Absolutely not.
Due to the nature and complexity of the Doctor Loan program and the very few lenders that offer it, working with a trusted Banking Consultant across the country is highly advised and very common place. Thus far this year over 93% of all Doctor Loan approvals are coming from our Mortgage Banker Officers located well outside the subject property address and State. 

In our world of highly advanced technology, access to email, e-fax, scanning, cell phones and texting, you will be able to provide and communicate very effectively with your assigned Banking Consultant. Pre-qualifications are being delivered within hours of connection, and closings are being met on average within 27 days of sales contract execution. This is less time than the average common place mortgage lender today. Realtors and Builders have also reported endlessly that the communication is spot on and are referring business direct to Physician Trust Mortgage routinely!

Getting started is easy – just complete the Inquire Now or Contact Us form located on all our site pages for assistance in getting connected. Our Doctor network will provide 100% mortgage financing for Residents, Practicing Physicians and Dentists in the following States: Alabama, Arkansas, California, Colorado, Connecticut, D.C., Delaware, Florida, Georgia, Indiana, Kentucky, Maryland, Massachusetts, Mississippi, North Carolina, South Carolina, Ohio, Pennsylvania, Tennessee, Texas, Virginia, West Virginia.