Physician Home Loans in Houston, Texas
The Texas Medical Center is the largest medical complex in the world, and the housing decision around it is mostly a commute decision.
Stop Cryin', Call Ryan. Ryan Mandley · NMLS #1181993
Nowhere else concentrates physicians like the Texas Medical Center, and nowhere else makes the commute question so decisive. The practical choice for most TMC borrowers is between paying more to live inside the loop and being close, or buying considerably more house in the suburbs and driving. Both are reasonable; on call schedules usually settle it.
Texas also brings property tax rates that are high by national standards, and that tax figure sits inside the payment your file is underwritten against. A borrower coming from a low-tax state can be genuinely surprised by how much of the monthly payment is not principal and interest. I quote with real tax figures for the specific property rather than a metro average, because the difference between those two numbers can be the difference between an approval and a decline.
- Texas Medical Center
- MD Anderson Cancer Center
- Houston Methodist Hospital
- Baylor College of Medicine and Texas Children's Hospital
What the program reaches in Houston
Run a Houston 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
How much do Texas property taxes change what I can borrow?
Materially. Property taxes are part of the monthly obligation used to qualify you, and Texas rates are high relative to most states. I run every Houston pre-approval against the actual assessed figures for the address rather than a metro average — using an average is how a comfortable pre-approval turns into a declined file.
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 Houston?
Tell me your timeline and your training stage and I will tell you what is realistic in Houston — before you start looking at houses.
Also serving Texas
Physician loans in Houston, TX.
One call, no credit pull. I will tell you what you qualify for and whether this is actually your best option.