Physician loans in California, explained.

What makes a physician mortgage different?

Some programs offer low or no down payment, no private mortgage insurance, and ways to evaluate an employment contract or student debt. These are lender-specific features, not a single nationwide benefit. California availability, professional degrees, loan amounts, property types and underwriting requirements all vary.

Your profession is the starting point

Eligibility can extend beyond physicians. Doctor Loan Silver lists MD, DO, DDS, DMD, PharmD, DVM/VMD, DPM, PA, NP and OD professionals, plus CRNAs with a DNAP or DNP. Qualifying residents, fellows and interns may also be considered. At least one borrower must have an eligible designation and qualify using income from it. Each lender sets its own degree, licensing and employment requirements.

What Sasha will help you compare

• Cash required at closing, including your down payment, closing costs and prepaid items.
• The full monthly payment, including property taxes, insurance, HOA dues and any mortgage insurance.
• The interest rate, APR, lender fees and whether the loan is fixed or adjustable.
• Employment documentation, reserve requirements and the lender’s treatment of student loans.

A physician loan is one option

A conventional, jumbo, FHA or eligible VA loan may be a better fit. More cash retained today can mean a larger loan balance and higher interest costs over time. Start with a comfortable budget, then compare actual written offers on the same assumptions.