Medical Professional Home Loan Program

A home loan program to help medical professionals, including residents, doctors, nurse practitioners and more fulfill their home ownership dreams.

To start the loan application process online, choose your local lender and click apply now.

You’ve always wanted to help other people through your work, but this career path can make it difficult to finance a big purchase like a home when you’re just starting out. Our specialty mortgage loans for medical professionals, sometimes known as a doctor home loan program, streamlines the process and reduces some of the fees that often come with traditional residential home mortgage loan programs for single family homes, town homes and condominiums.

Program Benefits

  • Low to no down payment: Up to 100% financing of purchase price, including financed closing costs
  • Loan amounts of up to $1.5 million
  • Early loan closing 60 days prior to employment start date possible with a signed contract 
    • Lower monthly payments: No Private Mortgage Insurance (PMI) required
    • No prepayment penalties
    • Cap on origination fee of $2,500
  • Student loan debt in deferment for 12 or more months is not included in borrower’s debt to income ratio

Eligibility Requirements

  • At least one borrower on the loan must hold one of the following licenses:
    • Medical Resident (Educational License)
    • Medical Doctor (MD)
    • Doctor of Dental Science (DDS)
    • Doctor of Dental Medicine or Surgeon (DMD)
    • Doctor of Optometry (OD)
    • Doctor of Ophthalmology (MD)
    • Doctor of Podiatric Medicine (DPM)
    • Doctor of Osteopathy (DO)
    • Anesthesiologist
    • Doctor of Pharmacy (Pharm D)
    • Advanced Practice Registered Nurse (APRN)
      • Nurse Practitioner (NP)
      • Certified Registered Nurse Anesthetist (CRNA)
      • Certified Nurse Midwife (CNM)
      • Clinical Nurse Specialist (CNS)
      • Clinical Nurse Leader (CNL)
    • Doctor of Veterinary Medicine (DVM)
    • Physician Assistant
  • Borrower(s) must be a US citizen; permanent Resident Alien; or Non-Resident Alien with a Visa expiration date at least six months beyond loan maturity or with a qualified US citizen co-applicant
  • Payroll direct deposit required to a Merchants Bank deposit account within 90 days of loan closing. 

Your mortgage lender can walk you through the program details and next steps.

Easy Choice for Our Mortgage Loan

I love the fact that Merchants has a special mortgage program for healthcare providers. As I’ve just completed my schooling and am starting my career as a Nurse Practitioner, the lower rates of the program were a huge benefit.

Kristina Balandan, Mortgage Customer

All mortgage loans subject to approval.

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