Physician mortgage loans are structured similarly to conventional loans but are much more accommodating to doctors and other high-income individuals given their uncommon financial circumstances. For that reason, most of the accommodations have to do with getting approved. For example, doctors can put down less than 20% and still avoid private mortgage insurance. PMI protects the lender against you defaulting on the dent and is typically required for loans with a less than 20% down payment. Another feature of physician mortgages is that they typically ignore the total owed on student loans and only consider the amount of the mortgage's monthly payment. A signed employment contract is often accepted as proof of income. Most traditional borrowers have to supply pay stubs or two years of tax returns. Higher loan limits are available with physician mortgage loans than with conventional mortgages. As much 100% on a $1 million loan and 90% on a $2 million loan is typical. Generally speaking, it's easier to qualify for a physician mortgage than other home loans. Each lender has its own standards, but in general you should be able to qualify if you have: Proof of your medical or other degree A signed contract indicating the amount of your current or expected future salary A credit score of 700 or higher Student loans in good standing (even though the balance will not be considered) A debt-to-income ratio of 45% or less (not including student loans) Quick tip: As financial conditions improve, many borrowers decide they want to refinance. Make sure there is no early pre-payment penalty. (There probably won't be.) If not, a refinance is possible.