Doctor Loan Program in Washington State – 2026 Guide

The Doctor Medical Professional Mortgage ProgramDoctor Loan Program in Washington State

Home Loans for Physicians & Medical Professionals

Medical professionals often face a unique challenge when buying a home—high student loan debt, early-career income changes, and limited time to navigate complex mortgage rules.

The Doctor Loan Program is designed specifically for physicians and other medical professionals, offering flexible financing options that recognize long-term earning potential rather than focusing only on traditional debt ratios.

I’m Rhonda Porter, a licensed mortgage advisor (NMLS 121324), and I’ve helped doctors and medical professionals across Washington State use these programs strategically—especially first-time home buyers purchasing in higher-priced markets.

What Is a Doctor Loan Program?

A doctor loan (sometimes called a physician loan) is a specialty mortgage program designed for medical professionals. These loans are offered through select lenders and are not government-backed programs like FHA or VA.

Doctor loans are often used by:

  • First-time home buyers
  • Early-career physicians
  • Medical professionals relocating or buying near hospitals
  • Buyers purchasing higher-priced homes who want to preserve cash

Common Features of Doctor Loan Programs

While guidelines vary by lender, doctor loan programs may offer:

  • Low down payment options (often 0–5%)
  • No private mortgage insurance (PMI)
  • Flexible treatment of student loan debt
  • Ability to qualify with an employment contract
  • Available for conforming and jumbo loan amounts
  • Competitive interest rates compared to jumbo loans with PMI

These programs are best evaluated alongside conventional and jumbo options to ensure the overall strategy makes sense.

Who May Qualify for a Doctor Loan?

Doctor loan programs are typically available to medical professionals such as:

  • Physicians (MD / DO)
  • Dentists (DDS / DMD)
  • Veterinarians
  • Optometrists
  • Podiatrists
  • Residents and fellows (program-specific)

Eligibility depends on profession, employment status, income structure, credit profile, and the lender’s guidelines.

Doctor Loans and Student Loan Debt

One of the biggest advantages of doctor loan programs is how student loan debt may be treated.

Depending on the program:

  • Deferred student loans may be excluded or treated more favorably
  • Income-driven repayment plans may be reviewed differently
  • Employment contracts can sometimes be used in place of pay stubs

This can make a meaningful difference for early-career doctors who otherwise qualify financially but are impacted by traditional debt calculations.

Is a Doctor Loan Right for You?

Doctor loans are powerful—but they are not always the best option.

In many cases, I compare:

  • Doctor loan vs. conventional financing
  • Doctor loan vs. jumbo financing
  • Monthly payment differences
  • Cash-to-close requirements
  • Long-term refinance or recast strategies

Sometimes a conventional loan with mortgage insurance costs less over time. Other times, preserving cash with a doctor loan makes more sense.

The key is reviewing the full financial picture, not just the down payment.

Doctor Loans for First-Time Home Buyers

Many doctor loan borrowers are first-time home buyers—especially those purchasing in competitive or higher-priced areas of Washington State.

Doctor loan programs can help:

  • Reduce upfront cash needs
  • Strengthen buying power
  • Support relocation or timing-sensitive purchases

They are often used alongside a long-term plan to refinance once income stabilizes or student loans change.

How the Process Works

Here’s what I recommend for medical professionals considering a doctor loan:

  1. Strategy conversation (goals, timing, cash, long-term plans)
  2. Side-by-side loan comparison (doctor loan vs alternatives)
  3. Preapproval using the strongest structure
  4. Clear expectations during the offer and closing process

My role is to help you understand the trade-offs so you can move forward confidently.

Doctor Loan Programs in Washington State

I work with medical professionals throughout Washington State, including:

  • Seattle & King County
  • Snohomish County
  • Pierce County
  • Kitsap County
  • Thurston County
  • Eastern Washington

Each market has its own price dynamics, and loan strategy matters.

Ready to Explore Your Options?

If you’re a medical professional thinking about buying a home—now or in the future—I’m happy to help you evaluate whether a doctor loan fits your goals.

Next steps:

FAQ: Doctor Loan Programs

Do doctor loans require a down payment?

Some doctor loan programs allow 0% down, while others require 3–5% down. Guidelines vary by lender and loan amount.

Do doctor loans have PMI?

Most doctor loan programs do not require private mortgage insurance, even with a low down payment.

Can residents and fellows qualify?

In many cases, yes—but guidelines vary. Some programs allow qualification with an employment contract.

Are doctor loans only for first-time buyers?

No. Doctor loans can be used by first-time or repeat buyers, depending on the program.

Are interest rates higher on doctor loans?

Rates may be slightly higher than traditional conforming loans but often competitive with jumbo loans—especially when factoring in no PMI.