Choosing the right home loan depends on your circumstances. For example, if you don’t have money to put down on a home but have the income to afford the payments or at the tail end of your fellowship, you might consider a physician loan. You know you’ll be able to quickly catch up and build equity because your income is about to change. However, if you have a 20% down payment or aren’t sure when your income will increase, you may want to wait until you qualify for a conventional loan to avoid getting in over your head.