Doctor Jumbo Program
Specialized jumbo financing for physicians, dentists, and qualified medical professionals — designed around the financial reality of medical training and practice. Future income matters. Student debt is treated thoughtfully. The loan accommodates the borrower, not the other way around.
Who this program is built for
The Doctor Jumbo program is built around the financial reality of a medical career — the long training timeline, the unusual debt profile, and the predictable income curve. It treats those realities as features, not as risks to underwrite around.
- Attending physicians purchasing in Scottsdale, Phoenix, Paradise Valley, or Sedona
- Residents and fellows preparing for an attending position
- Dentists, surgeons, anesthesiologists, ophthalmologists
- Newly-licensed physicians with significant student debt
- Out-of-state professionals relocating to Arizona for a new position
Why doctor loans exist
Physicians and dentists carry an unusual financial profile early in their career: massive student loan balances, but a steep predictable income curve. Standard underwriting reads only the moment-in-time DTI snapshot, which crushes a resident or fellow even though their income trajectory is among the most predictable in the economy.
Medical Professionals programs are a separate jumbo product designed specifically for this profile. Three key adjustments:
- Student loan exclusion. Deferred, forbearance, or $0-payment IBR student loans can be excluded entirely from DTI when the borrower is in residency or a clinical fellowship and qualifies on current resident/fellow income. For other student loans, the credit-report payment is used (or 1% of balance / a fully amortized payment if the report shows $0).
- 100% LTV with NO mortgage insurance. Where FHA / conventional cap at 95% with PMI piling on monthly cost, this program goes to 100% LTV with no MI at all. The monthly difference vs. FHA-with-PMI on a $1M home is usually $400–$700.
- Future-employment underwriting. Sign an offer letter or contract for an attending position with start date up to 150 days after closing, and you qualify on the future salary, not your current resident pay. Means you can buy your post-residency home before the first attending paycheck arrives.
Eligible borrower types
The Medical Professionals Jumbo program accepts:
- MD: Medical Doctor
- DO: Doctor of Osteopathic Medicine
- DDS: Doctor of Dental Science / Surgery
- DMD: Doctor of Dental Medicine
- DPM: Doctor of Podiatric Medicine
- DVM / VMD: Doctor of Veterinary Medicine
- PharmD: Doctor of Pharmacy
- Ophthalmologist: MD or DO
- Psychiatrist: MD or DO
- CRNA: Certified Registered Nurse Anesthetist with DNAP or DNP
- Residents, fellows, or interns currently in training with one of the above degrees
Not eligible on this specific program: chiropractors, NPs, PAs, RNs without a DNAP/DNP, optometrists (OD). Some of those credentials may fit other programs we offer; ask in the consult. Non-occupant co-borrowers are eligible if their contributing income is ≤ 50% of total qualifying income.
How residents and fellows qualify
If you're a resident, fellow, or intern with a contracted future position (attending physician, partner-track), the Medical Professionals Jumbo program qualifies you on your future employment contract instead of current resident pay. You can buy at attending-level loan amounts before the first attending paycheck arrives, a significant advantage when relocating for a new job.
What's required:
- Fully executed employment contract or offer letter signed by all parties.
- Document must state position/title, start date, and salary or compensation details.
- Start date must be no more than 150 days after the Note date (industry standard is typically 60–90 days; this program is unusually generous on this window).
- Salary or compensation must cover at least a 12-month period.
- Allowable contingencies: receipt of medical license, or normal administrative items (background check, drug test, fingerprinting). No other contingencies.
- Reserves: enough to cover the monthly PITIA for each month between closing and the employment start date, in addition to the standard reserve requirement.
Typical program guidelines
Specific eligibility ranges depend on loan amount, credit, leverage, and reserves. We'll model your situation precisely on the call. For reference, here are the broad ranges.
Loan amount, leverage, and reserve ranges (click to expand)
| Loan amount | Max LTV | Minimum FICO | Notes |
|---|---|---|---|
| $100,000 – $1,500,000 | 100% (no MI) | 680 | Most accessible tier; minimal reserves |
| Up to $2,000,000 | 100% (no MI) | 720 | Higher loan amount at 100% LTV; stronger credit required |
| Up to $2,000,000 | 95% (no MI) | 680 | Higher loan amount; 5% down required; 680 FICO threshold |
| $2,000,000+ | Crosses to Traditional Jumbo or Super Jumbo | ||
Primary residence, 1-unit only. No second homes, no investment, no manufactured/mobile homes, no condo-hotels. This program is designed for high-leverage scenarios — if you have substantial down-payment cash and your target leverage is below ~90%, traditional jumbo is usually a better fit. We'll model both side by side.
Credit history expectations
Credit standards are reasonable but firm — clean recent mortgage or rental history matters more than perfect overall credit. Specific seasoning expectations apply to past derogatory events.
Detailed credit guidelines (click to expand)
- Mortgage history: zero 30-day lates in the previous 12 months.
- Rental verification: zero 30-day lates in the previous 12 months for renters with no recent mortgage history.
- Credit history: minimum 24 months, at least one active tradeline (non-traditional tradelines accepted).
- Derogatory events: 4-year seasoning since discharge, dismissal, completion, or sale date for bankruptcy, foreclosure, notice of default, short sale, or deed-in-lieu. Multiple events not allowed (events seasoned over 10 years are not counted).
- Medical collections: can remain outstanding if aggregate balance is under $10,000 — useful for physicians carrying old medical-school-era collections.
- Open tax liens, judgments, charge-offs, past-due accounts: must be satisfied or brought current at or before closing.
For 1099 and contracted medical professionals
Medical professionals hired as a contractor qualify on a slightly different track from the attending-physician offer-letter path above.
Contractor / 1099 path details (click to expand)
- Executed employment contract required, stating a guaranteed or minimum salary or hourly rate and number of hours.
- Guaranteed compensation must cover at least a 12-month period.
- The contract — or a satisfactory letter from the hospital or clinic, must confirm there are no out-of-pocket expenses required of the professional to perform their duties.
- Start date must be within 60 days of loan closing (different from the 150-day attending offer-letter window).
- If you filed taxes using 1099 income in the previous year, tax returns are required. Returns showing expenses route to standard self-employment qualifying.
What this program does not include
Clear guardrails so you can confirm fit quickly.
Full exclusion list (click to expand)
- Doesn't combine with bridge financing or third-party departure-residence buyouts. If you need a bridge structure, see our Buy Before You Sell program separately.
- Doesn't fund 2–4 unit properties, second homes, investment properties, manufactured or mobile homes, condo-hotels, non-warrantable condos, mixed-use, or properties over 40 acres.
- Doesn't allow interest-only loans, balloons, graduated payments, convertible ARMs, or loans with prepayment penalties.
- Doesn't qualify chiropractors, optometrists, NPs, PAs, or RNs without DNAP/DNP on this specific product (we have other programs that may fit some of those credentials).
- Doesn't qualify DACA recipients, foreign nationals, borrowers with diplomatic status, or borrowers in federally illegal businesses. All borrowers need a valid SSN.
- Doesn't close in an LLC, corporation, partnership, life estate, non-revocable trust, guardianship, or land trust. The Illinois Land Trust is one exception; Inter Vivos Revocable Trust is allowed.
- Manual underwrite only, automated underwriting findings are not eligible; the file is underwritten by hand.
- Non-permanent resident aliens: maximum 95% leverage. The 100% tiers require US citizenship or permanent residency with 24 months of US employment.
FAQ
Can residents and fellows qualify?
Yes. Medical residents, fellows, and interns holding an MD, DO, DDS, DMD, DPM, DVM, PharmD, Ophthalmology (MD/DO), Psychiatry (MD/DO), or CRNA (with DNAP/DNP) degree are eligible. With a signed offer letter for an attending position, the start date can be up to 150 days after closing, significantly longer than the 60–90 day window most jumbo doctor programs allow.
What's the maximum LTV, really 100%?
Yes. Up to 100% LTV with no mortgage insurance: 100% at $1.5M loan amount with FICO 680, or 100% at $2M with FICO 720. 95% LTV is also available at $2M with FICO 680. Above 95% LTV, escrow / impound accounts are required and secondary financing isn't allowed.
Are deferred / IBR student loans really excluded from DTI?
Yes, when both conditions are met: (1) the borrower is currently in residency or in a medical clinical fellowship, AND (2) the borrower qualifies on the current resident or fellowship income. For all other student loans (including post-residency), the credit-report payment is used. If the report shows $0, qualification uses either the IBR payment per documentation, or 1% of the outstanding balance, or a fully amortized payment.
What if I have $300K of student debt?
Common for newly-licensed physicians and a key reason this program exists. If you're still in residency or fellowship, the deferred / IBR balance is excluded entirely from DTI. Once you're an attending, the credit-report payment counts, but the higher attending income usually absorbs it without breaking qualification.
How much do I need in reserves?
For loans $100K–$1.5M at 95% LTV or below: $0 reserves required. $1.5M–$2M at 95% or below: 3 months. Any loan above 95% LTV: 3 months ($100K–$1.5M) or 6 months ($1.5M–$2M). When qualifying on a future-attending offer letter, add enough to cover monthly PITIA between closing and the start date. Gift funds count toward reserves.
What about chiropractors, NPs, PAs, optometrists?
This specific program does not include chiropractors, NPs, PAs, RNs without a DNAP/DNP, or optometrists (OD). Some other programs we work with may fit those credentials, ask in the consult and we'll confirm against the current guide.
Can I use this for a vacation home or rental?
No. Medical Professionals Jumbo is primary residence, 1-unit only. For second homes, see our Full-Doc Jumbo program; for investor properties, see our Investor Loans site.
What products are available, fixed or ARM?
15, 20, 25, and 30-year fixed rate. Plus 5/6, 7/6, and 10/6 ARM products (SOFR 30-day average index, fully amortizing 30-year term, assumable, no conversion). ARM margin and floor terms are quoted file-specific after underwriting review. ARMs and the 15-year fixed have a 45% DTI cap.
Can I close in a trust?
Yes — Inter Vivos Revocable Trust is allowed (and Illinois Land Trust). LLCs, corporations, partnerships, life estates, non-revocable trusts, and guardianships are not eligible. All borrowers must have a valid SSN.
Curious if the Doctor Jumbo program fits your situation?
Bring your specialty, training stage, target purchase, and any offer letter you have. We'll model real pricing in 20 minutes.