A doctor loan, also known as a physician mortgage or medical professional mortgage, is a loan designed for the unique financial situation of medical professionals, like doctors, dentists, optometrists, physician assistants, nurse practitioners, and veterinarians who are looking to buy a home. Medical professionals often have high student loan debt and inconsistent income, especially when they’re just starting out.
Medical professional mortgages often have more generous debt-to-income ratio requirements and lower down-payment requirements than conventional loans. They may also not require private mortgage insurance (PMI).