Doctor Loans in Texas for Physicians, Dentists, and Nurses

A doctor loan, also called a physician or professional loan, is a mortgage built for medical and other licensed professionals whose income is strong or about to be, but whose student debt or new employment would make a standard loan harder. Through our doctor and professional loan program, eligible borrowers can buy with as little as 5% down, with no mortgage insurance required, flexible treatment of student loans, and the option to close before a new job starts.

The program is not only for physicians. Dentists, pharmacists, nurses, attorneys, CPAs, and several other professions may qualify. Here is how it works for buyers in Austin and across Texas.

Key takeaways

• Eligible professions include physicians, dentists, pharmacists, RNs, nurse practitioners, PAs, veterinarians, attorneys, CPAs, and more.
• As little as 5% down, with no mortgage insurance required.
• Flexible deferral treatment for student loans.
• Employment may begin up to 90 days after closing, which helps residents, fellows, and new hires.
• Jumbo loan amounts are available.

Who qualifies

Our doctor and professional loan program is available to:

• Medical and dental: medical doctors, oral surgeons, dentists, optometrists, ophthalmologists, and pharmacists.
• Nursing and clinical: registered nurses (RNs), nurse anesthetists, nurse practitioners, and physician assistants (PAs).
• Other licensed professionals: veterinarians, attorneys, CPAs, and certified financial advisors.

You will still need to qualify on credit, income, and assets, and the property must meet program requirements. But the program is designed around how professional careers actually start.

Why a professional loan can be a better fit

Student loans are treated realistically

Standard mortgage guidelines often count a payment on student loans even when they are deferred or in an income-driven plan, and that can push a debt-to-income ratio past the limit. Our professional loan program offers flexible deferral treatment for student loans, which can make a big difference for someone early in their career.

You can close before your first day

Residents finishing training, physicians relocating to Austin, and nurses starting at a new hospital often want to buy before they start work. With this program, employment may begin up to 90 days after closing, based on a signed employment contract or offer letter. That means you can move once instead of renting first and moving again.

No mortgage insurance with a smaller down payment

On a conventional loan, putting less than 20% down usually means paying private mortgage insurance. Our doctor and professional loan requires no mortgage insurance, even with as little as 5% down. That keeps more of your monthly budget for the rest of your life, and more of your savings in the bank.

Room for bigger price points

Homes near Austin's major medical centers and in neighborhoods popular with professionals can push past conforming loan limits. Jumbo amounts are available through this program. For buyers with larger down payments, our jumbo loans are another option to compare.

Doctor loan vs other options

A professional loan is not always the best choice. Here is how it compares:

• Conventional with 20% down. If you have 20% saved and your student loans are not an issue, a conventional loan may be simpler. See conventional loans.
• VA. Physicians and nurses who served may be eligible for a VA loan with no down payment for eligible borrowers. See VA loans.
• FHA. Usually less attractive for high earners because of mortgage insurance, but it can help in specific situations.

We will run the options side by side so you can see which one costs less over the time you plan to own the home.

What to have ready

Professional loan files are straightforward if you have the right documents:

1. Employment contract or offer letter if you are starting a new position, showing start date and compensation.
2. Recent pay stubs and W-2s if you are already working.
3. Professional license or proof of licensure status.
4. Student loan statements showing balances and repayment status.
5. Bank and investment statements for your down payment and reserves.
6. Tax returns if you have self-employment income, such as a practice owner or independent contractor. Practice owners may also want to read about our self-employed and bank statement loans.

Steps to get started

1. Talk to us early. If you are finishing residency or fellowship, reach out a few months before you plan to move. We can map out timing around your start date.
2. Get pre-approved. Our application takes about 10 minutes. Start here.
3. Set a comfortable budget. Just because you can qualify for a larger loan does not mean you should. Try our mortgage calculator to see how different price points fit.
4. Find your agent. A Realtor who knows the neighborhoods near your hospital or practice is worth a lot. We are happy to introduce you to agents we trust.
5. Close and move once.

Mistakes to avoid

• Waiting until the last minute. Medical relocations have fixed start dates. Starting early gives you time to shop and negotiate.
• Opening new credit before closing. It is tempting to finance furniture or a car for a new job. Wait until after you close.
• Assuming you need 20% down. Many professionals delay buying because they think they need a big down payment. With as little as 5% down, you may be ready sooner than you think.
• Stretching to the maximum. A strong future income is a good thing, but your first years as an attending, partner, or practice owner can bring surprises. Leave room in the budget.
• Forgetting reserves. Keeping some cash in the bank after closing protects you and can strengthen your file.

A quick note on timing

Relocation windows for medical professionals are tight. Contracts get signed in the spring, training ends in June, and new jobs start in July. Starting the conversation early gives you more choices and less stress. We are open 8 AM to 8 PM, seven days a week, which helps when your schedule does not follow business hours.

Let's talk about your plans

Whether you are a new attending, a dentist buying near your practice, or a nurse ready to stop renting, we would be glad to help. Visit our doctor and professional loans page, call 512-657-1333, or start your pre-approval.

Additional terms and conditions apply. Not all loan types are compatible with this product. Subject to underwriting conditions. Not a promise to make a loan. All borrowers must qualify. Network Funding, LP NMLS #2297. Kyle Richardson NMLS #863464. Equal Housing Lender.