Physician Home Loans in Phoenix, Arizona
Phoenix is a teaching city. It graduates physicians every June, and most of them are financially invisible to a conventional underwriter on the day they need a house.
Stop Cryin', Call Ryan. Ryan Mandley · NMLS #1181993
Phoenix produces and absorbs more physicians than anywhere else in the state, which means the borrowers I see here cluster hard around two moments: matching into a program, and finishing one. Both are moments where the file looks terrible on paper — heavy student debt, thin savings, income that starts on a future date — and where a conventional pre-approval either dies or comes back so small it is useless.
The Phoenix market itself rewards moving early in the season. Inventory in the central corridor and the Arcadia and Biltmore areas turns over in bursts, and the buyers who get the house are the ones who were fully underwritten before they started looking. If you are matching or graduating in the spring, the conversation should happen in the winter — not because I need the time, but because you will want the pre-approval sitting in your pocket the day something good lists.
- Banner — University Medical Center Phoenix
- St. Joseph's Hospital and Medical Center and Barrow Neurological Institute
- Phoenix Children's Hospital and Valleywise Health
- University of Arizona College of Medicine — Phoenix and the Creighton Phoenix campus
What the program reaches in Phoenix
Run a Phoenix 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 resident at Banner with $310,000 in student loans. Does that disqualify me?
It is close to the opposite. Heavy federal student debt on an income-driven repayment plan is exactly the profile this program was written for — the documented IDR payment can be used, or the debt excluded entirely, instead of the percentage-of-balance calculation that sinks residents on a conventional loan. Bring the current servicer statement and we can model it in one sitting.
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 Phoenix?
Tell me your timeline and your training stage and I will tell you what is realistic in Phoenix — before you start looking at houses.
Physician loans in Phoenix, AZ.
One call, no credit pull. I will tell you what you qualify for and whether this is actually your best option.