You have read six articles about physician loans and they all said the same four things. None of them answered the question you actually have.
This page is the rest of it. Every answer comes from CMG Financial's MedPro Premier guidelines (NMLS #1820, revised 09/11/2026) unless another document is named, and nothing here is softened for marketing.
Eligibility
Which professions qualify? MD, DO, Doctor of Ophthalmology (MD or DO), Doctor of Psychiatry (MD or DO), DDS, DMD, PharmD, DVM or VMD, DPM, CRNA with a DNAP or DNP, and Nurse Practitioner with an MSN or DNP. Medical residents, fellows and interns holding one of those degrees are included.
Who is expressly excluded? Chiropractors. Also DACA recipients, ITIN and asylum borrowers, foreign nationals, borrowers with diplomatic status, life estates, non-revocable trusts, guardianships, LLCs, corporations and partnerships, land trusts other than an Illinois land trust, and any borrower with ownership in a business that is federally illegal even if that income is not used to qualify.
I am a CRNA with a master's degree, not a doctorate. Do I qualify? The list reads CRNA with a DNAP or DNP. The eligibility is written to the degree. Nurse Practitioners are listed at MSN or DNP, which is a lower threshold, so the two roles are not treated the same.
Can I get a profession exception? No. The guidelines state the investor will not consider profession exceptions, and that the designation and degree requirements allow no exceptions nor alternatives.
Do I have to be practicing? At least one qualifying borrower whose income is used must hold an eligible designation as a medical professional in active practice, or be a resident, fellow or intern with one of the degrees.
Can my non-physician spouse be on the loan? Yes. Non-occupant co-borrowers are also eligible, but non-occupant contributing income must be less than or equal to 50% of total qualifying income.
Leverage and loan amount
How much can I borrow with nothing down? $1,500,000 at a 680 score, or $2,000,000 at a 720. One unit, primary residence.
What if I want 95% instead? 95% reaches $2,000,000 at a 680 score.
Is there a minimum down payment? There is effectively a maximum. Minimum loan-to-value is 90.01%, so if you put more than about ten percent down you are below the floor and not eligible for this program.
Is there mortgage insurance? No, at any loan-to-value.
Can I use a second mortgage? Not at 90.01% loan-to-value and above, which is the whole program.
Can I buy a second home or a rental with this? No. Primary residence only.
Can I buy a duplex? 100% financing is one unit only. 95% at a 680 score allows more than one unit within the matrix, so the unit count interacts with leverage. Confirm on your file before you write.
Student loans and ratio
Can I exclude my student loan payment? Only if it is in deferment, in forbearance, or reporting $0 under an income-based repayment plan, and you are currently in residency or currently in training in a medical clinical fellowship program.
What if I just finished training? The exclusion does not follow you out. A monthly payment must be included. If the credit report shows a payment, that figure may be used. If it shows none or $0, a payment must be calculated another way.
What is the maximum debt-to-income? 50% at 95% loan-to-value or below. 45% above 95%. 45% on ARMs and 15-year fixed rate loans.
So should I put five percent down? Frequently yes. Five percent down moves you from a 45% ceiling to a 50% ceiling and drops your minimum reserve requirement, which for an attending carrying student loans is usually worth more than the cash.
How are credit card payments counted? The monthly payment on revolving accounts with a balance is included regardless of months remaining. If no payment is shown and it cannot be determined, a minimum payment may be calculated as the greater of $10 or 5% of the balance.
Income and contracts
Can I qualify before I start the job? Yes, on a fully executed employment contract or offer letter, signed by all parties, stating your position or title, start date, salary and compensation details, with compensation covering at least a 12 month period.
How far out can my start date be? No more than 150 days after the note date. For a 1099 contractor, within 60 days of closing.
What contingencies can be in my contract? Only receipt of your medical license, or normal administrative requirements such as background checks, drug testing and fingerprinting. Anything else is a problem.
Does my resident housing stipend count? It can, with less than twelve months of history, if it is paid in cash directly to you rather than as a rent credit or to a landlord, it is documented on paystubs and verified or guaranteed in the contract, and there is no indication it will end before your employment term does.
I am paid on a 1099. What changes? You need a contract specifying your compensation rate and expected volume, enough detail to determine minimum income for the first 12 months, confirmation you carry no unreimbursed business expenses required to perform the work, and a start date within 60 days of closing. If you filed taxes with 1099 income last year, you are qualified under standard self-employment guidelines instead.
Can I use business funds? Business funds are not allowed for income calculation.
Assets and reserves
How many months of reserves do I need? Zero at 95% or below up to $1,500,000. Three months above 95% up to $1,500,000. Three months at 95% or below from $1,500,001 to $2,000,000. Six months above 95% in that range.
Does closing early cost me reserves? Yes. One month of full housing payment for each month between the note date and your start date, rounded up for partial months, on top of the minimum.
Do my other properties cost me reserves? Three months for each additional financed one-to-four unit property. You may own four financed properties total including the subject.
Can my parents gift the down payment? Yes. Gifts from eligible donors may cover 100% of down payment, closing costs, prepaids and reserves with no minimum contribution from your own funds. Gift funds may not be used to pay off debt, and gifts from relatives who are interested parties are not allowed unless it is a gift of equity.
How many bank statements do I need? Two months on a purchase, one month on a refinance, or the most recent quarter for quarterly-reporting accounts.
Credit
What is the minimum score? 680 for the matrix generally. 720 for 100% financing to $2,000,000. The alternative MedPro Advantage program (revised 07/16/2025) requires 720.
How long after a bankruptcy or foreclosure? Four years of seasoning for derogatory credit events.
Will recent inquiries hurt me? Inquiries within the most recent 90 days must be explained, and any credit you obtained must be verified and included in your ratio. Do not open credit during escrow.
My credit is frozen. Is that a problem? Yes. All bureaus must be unfrozen and a current report pulled with all three open.
Can I get a rapid rescore? Credit score refreshes are allowed, but the closed file must include all documentation supporting the change and still meet the program's asset requirements.
I have a payment plan with the IRS. Does that work? No. Payment plans on prior year tax liens or liabilities are not allowed and must be paid in full.
Process and property
Is there an automated approval? No. AUS findings are not eligible and a full manual underwrite is required, so plan a longer timeline.
Are escrow accounts required? Above 90.01% loan-to-value, yes, unless prohibited by applicable law.
Is there an acreage limit? On ARM and 15-year fixed rate loans, a maximum of 10 acres along with a 45% debt-to-income cap.
Can I take cash out later? Not on this program. It runs purchase and rate and term refinance only.
Can I refinance if my house was recently listed? Not if it is currently listed, and not if it was listed within six months of the application date.
Can I recast instead of refinancing? Usually yes, and it is frequently the better answer. The loan must be current with no record of 30-day delinquency, ARMs are not eligible until after the first reset, there is no limit on requests and no waiting period, it takes around 60 days, and approval is not guaranteed.
Related reading
- Physician and medical professional home loans, the full index for this topic
- Physician Home Loans in Scottsdale: How Doctors Buy With No Down Payment and No Mortgage Insurance
- Nine Ways Physicians Lose the House: Mistakes That Kill a Doctor Loan
- Physician Loan or Conventional: Which One Is Actually Cheaper on Your File
Why bring this file to us
- We answer from the guideline, not from memory. Every figure on this page has a document behind it and a revision date on it.
- We tell you when the answer is no. A fast no is worth more than a slow maybe, and there is usually a structure that does work.
- We carry the programs. A lender who does not offer these will answer most of these questions with no.
- Broker model. Multiple investors rather than one bank's shelf, which is what a file like this needs when the first answer is no.
- You talk to the principal. Ricky Khamis is President of EPiQ Lending and a Certified Mortgage Planner, NMLS #173141, originating mortgages since 1999. Direct line: (480) 999-9842.
EPiQ Lending is NMLS #1936984, at 7975 N. Hayden Road, Suite A-101 in Scottsdale. Verify all of it before you trust any of it: Ricky's EPiQ Lending profile, the Scottsdale branch, and the license itself at NMLS Consumer Access. Hold every lender to that standard, including us.
If your question is not here, send it. I would rather answer it in one message than have you find the answer in underwriting.
Program figures in this post come from the CMG Financial (NMLS #1820) guideline set named above, as published on the revision date given. CMG Financial is the parent company of EPiQ Lending. These figures describe one investor's program at one point in time. Other investors price and underwrite the same borrower differently, guidelines change without notice, and nothing here is an offer of any specific program or terms. Confirm current eligibility on your own file before you plan around any of it.
Equal Housing Opportunity. This is general information, not a commitment to lend or an offer to extend credit. Rates, terms, and program guidelines change and depend on credit approval, property appraisal, income and asset verification, and other qualifying factors. Not all applicants will qualify. Non-QM, asset-based and business purpose financing carry different pricing, terms and consumer protections than agency financing. Consult your tax advisor regarding the tax treatment of any income or distribution strategy.
Find out what you qualify for before you start looking
Tell me where you are in training or practice and I will tell you which structure fits your file, what it needs, and what it does not. No credit pull to have the conversation.
