Medical professionals may be eligible for a mortgage up to $750,000 without a down payment or private mortgage insurance needed. PhysicianLoans, an Ohio-based mortgage lender, says its “Doctor Loan” is available to medical doctors, dentists, and veterinarians.
PhysicianLoans has offered zero-down loans for doctors previously, but the lender has now increased the loan amount they’ll approve to $750,000 due to rising home prices.
“Today’s young doctors would like to both pay down their debt and buy a home,” says Tal Frank, president of PhysicianLoans. “While a post-residency doctor making six figures has the cash flow for both, they do not yet have the down payment required by a traditional bank.”