Physician Home Loans in Glendale, Arizona
Glendale trains more categories of eligible doctor than anywhere else in Arizona, and most of those graduates never learn they qualify.
Stop Cryin', Call Ryan. Ryan Mandley · NMLS #1181993
Midwestern University makes Glendale unusual. A single campus here graduates osteopathic physicians, dentists, veterinarians, podiatrists and pharmacists — and DO, DMD, VMD, DPM and PharmD are all eligible degrees on this program. In practice this is the most under-informed borrower pool in the state. Dentists and veterinarians in particular tend to assume none of this applies to them. Optometry is the one Midwestern program not on the eligible list, so ask me before you assume either way.
The West Valley also prices well below the Northeast Valley, so the loan amounts here are smaller and the program's loan limits cover the great majority of purchases outright. For a new graduate with no savings and a first associate position, that is frequently the entire difference between buying this year and renting for three more.
- Midwestern University — osteopathic medicine, dental medicine, veterinary medicine, podiatry, optometry and pharmacy
- Banner Thunderbird Medical Center
- Abrazo Arrowhead Campus
What the program reaches in Glendale
Run a Glendale payment — it checks your price against the program tiers and shows the mortgage insurance you avoid.
| Credit score | Loan up to | Mortgage insurance | |
|---|---|---|---|
| 720+ | $2,000,000 | None | Smallest down payment available at every loan size |
| 680+ | $2,000,000 | None | Smallest down payment available up to a lower loan size |
There is a floor as well as a ceiling. This program is only for buyers putting a small amount down — so if you have a large down payment saved, this is not your program and a conventional loan is probably cheaper. Loan amounts run $100,000 to $2,000,000. Terms change without notice; ask me for today's matrix before you plan around a number.
Asked here more than anywhere else
I am a veterinarian, not a physician. Does this really include veterinary medicine?
It does — the doctor of veterinary medicine degree sits on the eligible list alongside MD, DO, DDS and DMD, at the same loan amounts. Given how many veterinarians come out of Midwestern each year, this is the question I answer most often in the West Valley. Send me your diploma designation and I will confirm it against the current matrix before you rely on it.
What exactly is a physician loan?
A mortgage program written around the fact that a doctor’s early-career finances look bad on paper and are not. It allows a small down payment on loans up to $2M, charges no mortgage insurance, excludes student loans from your debt ratio while you are in residency or fellowship, and lets a signed employment contract stand in for pay stubs with a start date up to 150 days after closing.
Do I need to have started working?
No. A fully executed contract or offer letter works with a start date up to 150 days after closing — close to five months. It has to state your title, start date and compensation, and the only contingencies allowed are your medical license coming through or routine items like a background check. If you are contracted as a 1099 physician the window is tighter, at 60 days.
Is the rate higher than a conventional loan?
Often slightly, and that is the honest trade for a low down payment and no mortgage insurance. Whether it is the better deal depends on how much you would otherwise put down. With a large down payment saved, a conventional loan sometimes wins outright. I will quote both and show you the comparison rather than steering you to the one that is easier for me.
How much student loan debt is too much?
There is rarely a hard cutoff, because what matters is how the payment is counted rather than the size of the balance. In residency or fellowship, loans in deferment, forbearance or reporting $0 on an income-driven plan can be excluded from the ratio altogether — a $400,000 balance and a $150,000 balance look the same at that point. After training the documented income-driven payment is used, which still beats the 1%-of-balance math that sinks conventional files.
Buying in Glendale?
Tell me your timeline and your training stage and I will tell you what is realistic in Glendale — before you start looking at houses.
Physician loans in Glendale, AZ.
One call, no credit pull. I will tell you what you qualify for and whether this is actually your best option.