Best Physician Mortgage Lenders in California (2025) – Compare Top Doctor Home Loans
April 24, 2025
TLDR
California housing is competitive, but the best physician mortgage can give you a real edge—especially if you’re juggling student loans or trying to conserve cash. These doctor loans are built for medical professionals and usually offer low-to-zero down, no PMI, more flexible DTI/student loan treatment, higher loan limits, and sometimes the ability to qualify based on a contract before you start a new job.
The guide highlights five lender options to compare in California: Wintrust Mortgage, BMO Bank, Liberty Federal Credit Union, Alliant Credit Union, and Truist Financial. The smart way to choose is matching the program to your price point and timeline: who offers true 0% down at your target loan amount, who handles student loans best, who can close quickly, and whether the lender fits your market/property type (most require primary residence).
California's real estate market is one of the most competitive in the country, and medical professionals often face unique challenges when securing a mortgage. Fortunately, physician mortgage programs cater specifically to doctors, dentists, and other medical professionals, offering benefits like low or no down payments, no private mortgage insurance (PMI), and flexible debt-to-income (DTI) ratios. If you're a physician looking to buy a home in California, this guide will help you navigate the best physician mortgage lenders in the state, their unique benefits, and how to choose the right one for you.
What is a Physician Mortgage Loan?
A physician mortgage loan (also known as a doctor loan) is a specialized home financing program designed for medical professionals. These loans recognize the unique financial situation of doctors, who often carry significant student debt but also have high earning potential.
Key Benefits of Physician Mortgage Loans:
Low or No Down Payment: Many lenders offer up to 100% financing.
No PMI: Unlike conventional loans, doctor loans typically do not require private mortgage insurance.
Flexible DTI Ratios: Lenders often exclude or reduce student loan impact on DTI calculations.
Higher Loan Limits: These loans allow physicians to borrow more than conventional loan limits.
Early Career Flexibility: Some lenders allow approval even before employment starts.
Best Physician Mortgage Lenders in California
After researching top banks and lenders in California, we've identified the top 5 physician mortgage lenders that offer the best terms and benefits.
✅ 100% financing available for qualified physicians ✅ No PMI on physician loans ✅ Student loan flexibility when calculating DTI ✅ Available for MD, DO, DDS, DMD, and other healthcare professionals 🔹 Why Choose Wintrust? Wintrust Mortgage provides a strong combination of high loan limits and flexible underwriting, making it an excellent option for physicians buying in expensive markets like Los Angeles, San Francisco, and San Diego.
✅ Up to $1.5 million with 5% down ✅ Up to $2 million with 10% down ✅ No PMI ✅ Loan approvals up to 90 days before job start date 🔹 Why Choose BMO? BMO’s physician mortgage program is ideal for newly employed doctors, allowing them to secure financing before starting work. This makes it one of the most flexible options for residents and fellows transitioning to full-time practice.
✅ Competitive rates with lower fees than traditional banks ✅ No PMI on doctor loans ✅ Named Best Credit Union for Checking by Investopedia 🔹 Why Choose Liberty FCU? Liberty Federal Credit Union offers some of the best interest rates and lower closing costs compared to larger banks, making it a great option for doctors looking to minimize their overall loan expenses.
✅ Up to 100% financing for eligible physicians ✅ No PMI ✅ Flexible underwriting for student loan debt ✅ Available in all major California markets 🔹 Why Choose Alliant Credit Union? Alliant Credit Union is a member-focused lender offering highly competitive physician mortgage products with excellent customer service. Their no PMI and flexible down payment options make them a strong choice for doctors looking for affordable home financing.
Truist
✅ 100% financing up to $750,000 ✅ No PMI ✅ Available to residents, fellows, and attending physicians ✅ Both fixed and adjustable-rate mortgage options 🔹 Why Choose Truist? Truist offers one of the best zero down payment physician mortgage options, making it ideal for doctors who prefer to conserve cash for other investments.
Consider these factors:
✅ Loan Amount & Down Payment Requirements
If you need 100% financing, prioritize lenders like Wintrust and Truist.
If you're comfortable with 5-10% down, BMO offers higher loan limits.
Some lenders have geographic restrictions or require the home to be your primary residence.
✅ Student Loan Impact
Choose a lender that offers flexible DTI calculations if you have significant student debt.
✅ Speed of Approval
If you need to close quickly, Alliant Credit Union is a great choice.
Physician Mortgage FAQs
❓ Who qualifies for a physician mortgage loan? Most physician mortgage loans are available to MDs, DOs, DDSs, DMDs, and sometimes DPMs and PharmDs. Some lenders also include veterinarians and nurse practitioners. ❓ Can I get a physician mortgage with student loans? Yes! Physician mortgage loans often have more lenient underwriting guidelines that exclude or reduce the impact of student loans. ❓ Can I use a physician mortgage for an investment property? No, most physician mortgage loans are only for primary residences.
Final Thoughts: Find the Best Physician Mortgage in California
Buying a home in California as a physician doesn't have to be complicated. With the right lender, you can secure a mortgage with low or no down payment, no PMI, and competitive interest rates. Ready to find the best physician mortgage for you? Contact one of the lenders above or visit DrHomeFinance.com for expert mortgage guidance tailored to medical professionals.
