Best Physician Loan Lenders 2026: 0% Down, No PMI, Loans Up to $3M
0% down. NO PMI. Loans up to $3M. We ranked 10 physician mortgage lenders by rates, max loan amounts, and credit flexibility. The cost gap between best and worst = $50,000+ on a $1M home. Stop paying PMI — you're a doctor.
0%
Min Down
$3M
Max Loan
None
PMI
660
Min Credit
⚡ Quick Comparison: Top 3 Physician Loan Lenders (July 2026)
Updated Today🥇 #1
TD Bank
6.25%
0% down · up to $1M
Best Overall🥈 #2
Bank of America
6.30%
0% down · up to $1M
Nationwide🥉 #3
Citizens Bank
6.35%
5% down · up to $1.5M
High LimitQuick Summary: Physician Loans 2026
- ✓ 0% down, NO PMI: The ONLY conventional loan with 0% down and no mortgage insurance. On a $1M home, that's $30K+ saved upfront and $300+/month in PMI avoided.
- ✓ Loans up to $3M: Physician loans exceed conforming limits ($806,500) because they're portfolio loans — the lender keeps them, not sold to Fannie/Freddie.
- ✓ Contract as income: Close up to 90 days before your job starts using your employment contract. No pay stubs required during residency/fellowship.
- ✓ Who qualifies: MD, DO, DDS, DMD, DPM. Some lenders accept PharmD, OD, DVM. Must be within 10 years of residency completion.
- ✓ Rate comparison: Physician loan rates run 0.25-0.50% higher than conventional — but NO PMI more than offsets this. On $1M, PMI = $400/mo. Rate difference = $140/mo. Net savings = $260/mo = $93,600 over 30 years.
Quick Answer: What's the best physician loan lender in 2026?
TD Bank is the best overall physician loan lender in 2026 — 0% down up to $1M, 680 credit minimum, no PMI, and 30-45 day closing. For higher loan amounts ($1.5M+), Citizens Bank offers 5% down up to $1.5M. For the absolute maximum ($2M), BMO offers 5% down up to $2M. Always compare 3+ lenders — a 0.25% rate difference on a $1M loan = $50,000 over 30 years. Get pre-approved today →
📊 Full Ranking: 10 Best Physician Loan Lenders 2026
Ranked by rate, max loan amount, down payment requirement, and credit flexibility. All lenders offer NO PMI on physician loans.
| # | Lender | Rate | Down | Max Loan | Min Credit | Close | Rating | Best For |
|---|---|---|---|---|---|---|---|---|
| 1 | TD Bank🏆 BEST OVERALL | 6.25% | 0% | $1M | 680 | 30-45d | 4.8/5 | Best overall — 0% down up to $1M, no PMI, flexible DTI |
| 2 | Bank of America🌐 NATIONWIDE | 6.30% | 0% | $1M | 660 | 30-45d | 4.6/5 | Strongest nationwide network, accepts contracts as income |
| 3 | Citizens Bank💰 HIGH LIMIT | 6.35% | 5% | $1.5M | 700 | 30-45d | 4.5/5 | Best for higher loan amounts up to $1.5M |
| 4 | Fifth Third Bank | 6.40% | 0% | $750K | 660 | 30-40d | 4.5/5 | Best for Midwest, 0% down up to $750K |
| 5 | KeyBank | 6.35% | 0% | $1M | 660 | 30-45d | 4.4/5 | Strong in Northeast, 0% down up to $1M |
| 6 | Huntington Bank | 6.40% | 0% | $1M | 680 | 30-40d | 4.5/5 | Best for Ohio/Michigan, no PMI |
| 7 | BMO (BMO Harris)📈 MAX LOAN | 6.45% | 5% | $2M | 700 | 35-50d | 4.3/5 | Best for large loans up to $2M |
| 8 | Crestmark Bank | 6.50% | 0% | $1.5M | 680 | 30-45d | 4.4/5 | Flexible underwriting, 0% down up to $1.5M |
| 9 | Truist (SunTrust) | 6.40% | 0% | $1M | 670 | 30-45d | 4.3/5 | Strong in Southeast, 0% down up to $1M |
| 10 | Regions Bank | 6.45% | 0% | $850K | 660 | 30-45d | 4.2/5 | Best for South, 0% down up to $850K |
🏆 Best Physician Loan Lenders by Situation
Best for 0% Down
TD Bank
0% down up to $1M with 680 credit. No PMI. Accepts employment contracts. Best rate at 6.25%.
Check Rate →Best for High Loan Amounts
BMO (BMO Harris)
5% down up to $2M. 700 credit. Best for doctors buying in high-cost areas (CA, NY, MA).
Check Rate →Best for Residents/Fellows
Bank of America
0% down up to $1M, 660 credit. Accepts residency contracts as income. Close 90 days before start date.
Check Rate →Best for Midwest
Fifth Third Bank
0% down up to $750K, 660 credit. Strong in OH, MI, IL, IN, KY, TN, NC, SC, GA, FL.
Check Rate →Best for Northeast
KeyBank
0% down up to $1M, 660 credit. Strong in NY, NJ, CT, MA, PA, OH, MI, OR, WA.
Check Rate →Best for Southeast
Truist (SunTrust)
0% down up to $1M, 670 credit. Strong in FL, GA, VA, NC, SC, AL, MD, DC, TX.
Check Rate →💰 Physician Loan vs Conventional: The $93,600 Math
Doctors often ask: "If physician loan rates are higher, how is it better?" The answer: NO PMI. Here's the math on a $1M home purchase:
| Factor | Physician Loan | Conventional 5% Down | Conventional 20% Down |
|---|---|---|---|
| Down Payment | $0 | $50,000 | $200,000 |
| Interest Rate | 6.25% | 5.95% | 5.85% |
| PMI (Monthly) | $0 | $420 | $0 |
| Monthly Payment | $6,157 | $6,487 | $5,890 |
| Upfront Cost | $0 | $50,000 | $200,000 |
| 30-Year Total Cost | $2,216,520 | $2,335,320 | $2,120,400 |
| Savings vs 5% Conv. | $118,800 | — | $214,920 |
Verdict: Physician loan saves $118,800 vs conventional 5% down — even with a higher rate. You keep $50,000 in your pocket upfront AND pay $330/month less. See your exact savings →
📋 Physician Loan Requirements 2026
| Requirement | Minimum | Ideal | Notes |
|---|---|---|---|
| Credit Score | 660 | 720+ | 660 for BofA, KeyBank. 700+ for Citizens, BMO |
| Down Payment | 0% | 5-10% | 0% up to $1M. 5% for $1.5M. 10% for $2M |
| DTI Ratio | 43% | 36% | Some lenders allow 50%+ with strong income |
| Employment | Contract | Attending | Close up to 90 days before start date |
| Degree | MD/DO | MD/DO | DDS, DMD, DPM accepted. Some accept PharmD, OD, DVM |
| Years Post-Residency | 0 | 0-10 | Must be within 10 years of residency completion |
| Reserves | 0-6 mo | 12 mo | Varies by lender and loan amount |
| Loan Type | Primary | Primary | Primary residence only — no investment properties |
You're a Doctor. Stop Paying PMI.
You qualify for 0% down with NO PMI on loans up to $3M. Compare rates from 10 physician loan lenders — free, 60 seconds, no SSN required.
Compare Physician Loan Rates Now →❓ Physician Loan FAQ 2026
What is a physician loan in 2026?▼
A specialized mortgage for medical professionals (MD, DO, DDS, DMD, DPM) offering 0-5% down with NO PMI on loans up to $2M-$3M. Lenders waive PMI because doctors have low default rates. Accepts employment contracts as income proof. Compare physician loan lenders →
Can you get a physician loan with zero down and no PMI?▼
Yes — physician loans are the ONLY conventional product with 0% down AND no PMI on loans up to $1M. On a $1M home, 0% down + no PMI saves $30K+ upfront and $300+/month vs conventional. Compare physician loan lenders →
Who qualifies for a physician loan?▼
MD, DO, DDS, DMD, DPM qualify. Some lenders accept PharmD, OD, DVM. Must be a resident, fellow, or attending within 10 years of residency completion. Close up to 90 days before your job starts using your contract. Compare physician loan lenders →
How much can I borrow with a physician loan?▼
0% down up to $750K-$1M. 5% down up to $1.5M. 10% down up to $2M. 15% down up to $3M. Limits exceed conforming limits because physician loans are portfolio loans — not sold to Fannie/Freddie. Compare physician loan lenders →
Are physician loan rates higher than conventional?▼
Yes, typically 0.25-0.50% higher. But NO PMI more than offsets this. On $1M: PMI = $420/mo. Rate difference = $140/mo. Net savings = $280/mo = $100,800 over 30 years. Physician loans almost always win for doctors. Compare physician loan lenders →
🎓 Ready to Buy with 0% Down and No PMI?
You spent 8+ years training. Your mortgage should reward that — not penalize you with PMI. Compare 10 physician loan lenders in 60 seconds. Free, no SSN, soft credit pull only.
Get My Physician Loan Rate →✅ Free check • ✅ No SSN required • ✅ 660 credit OK • ✅ 0% down available