Doctor Mortgage Loans for Nurses and CRNAs 2026

Last updated: July 2026 | Reading time: 9 min

Physician mortgage loans — also called "doctor loans" or "professional mortgages" — were originally designed for medical doctors with high income but high student debt and no assets. In recent years, many lenders have expanded these programs to include CRNAs, NPs, PAs, and in some cases RNs. If you're a healthcare professional who qualifies, these loans offer advantages that conventional mortgages don't: zero or low down payment, no private mortgage insurance (PMI), and student loan debt calculated differently (or excluded entirely) from your debt-to-income ratio.

Which Healthcare Professionals Qualify

Key Benefits of Physician Mortgages

Zero or Low Down Payment

Most physician mortgage programs offer 0%, 5%, or 10% down on loans up to $1M–$2M (limits vary by lender). No 20% down required. This matters enormously for nurses who are early in their career or coming out of CRNA school with minimal liquid assets despite high income.

No Private Mortgage Insurance (PMI)

Conventional loans require PMI when you put down less than 20%. On a $600,000 loan, PMI can cost $250–$500/month. Physician mortgages eliminate this cost entirely, saving $3,000–$6,000/year until you'd otherwise reach 20% equity.

Student Loan Treatment

This is often the decisive benefit. Lenders handling physician mortgages use one of two approaches to student loans:

• Income-driven repayment (IDR) payment only — if your IDR payment is $400/month vs. the $1,800 standard payment, only $400 counts in DTI calculation
• Full exclusion — some lenders exclude student loans entirely from DTI if they're in deferment or income-driven repayment during training

Employment Contract / Offer Letter Accepted

Many physician mortgage lenders accept a signed employment contract to qualify — even before you've started the job. For CRNAs who've just graduated and accepted a position, this means you can close on a home before or immediately after starting work, without needing 1–2 years of employment history at the new income level.

Physician Mortgage Lenders That Include Nurses/CRNAs

Lender programs change frequently — always verify current criteria directly with the lender.

Physician Mortgage vs. Conventional — Real Numbers

Scenario: CRNA, $220,000 income, $150,000 student loans, buying a $700,000 home.

The physician mortgage rate is typically 0.125%–0.375% higher than conventional rates — but the PMI elimination and zero down often produce a lower total monthly payment than the conventional alternative with PMI. Over 5 years, the down payment you keep invested (rather than sinking into the home) at 7% returns may exceed the rate premium significantly.

Considerations and Tradeoffs

Rate Premium

Physician mortgages carry a slightly higher interest rate than conventional loans for the same borrower — typically 0.125%–0.375% above. On a $700,000 loan, 0.25% over 30 years adds approximately $35,000 in total interest. For borrowers who would otherwise pay PMI, the math usually still favors the physician mortgage. For borrowers who genuinely have 20% to put down, a conventional loan may be cheaper.

Not All Markets/Properties Qualify

Loan limits vary by lender and by property type. Investment properties, mixed-use buildings, and non-primary residences typically don't qualify for physician mortgage programs — these are primary residence products.

Location of Participating Lenders

Not all banks offering physician mortgages operate in every state. Work with a mortgage broker who specializes in healthcare professionals, or contact multiple lenders directly to compare availability in your target market.

See also: Nurse Real Estate Investing Guide · CRNA Student Loan Strategy · Nurse House Hacking Guide