Physician Home Loans in San Diego, California
San Diego combines a deep academic medical base with prices that make the no-mortgage-insurance feature worth real money every month.
Stop Cryin', Call Ryan. Ryan Mandley · NMLS #1181993
San Diego loan amounts run high enough that mortgage insurance on a conventional file becomes a genuinely large monthly number, so removing it is the headline here rather than the low down payment. For a physician at UCSD, Scripps or Sharp buying in the $1M-plus range, that difference compounds into serious money over the years before the loan would have hit the cancellation threshold anyway.
California also runs on a different clock than Arizona. Escrow customs, disclosure timelines and appraisal turn times all behave differently, and a lender who does not work in the state regularly will discover that during your transaction rather than before it. I am licensed here and originate here — CA-DBO1181993 — and I would rather set expectations about timeline honestly at the start than apologize for them later.
- UC San Diego Health — Hillcrest and Jacobs Medical Center in La Jolla
- Scripps Health and Sharp HealthCare
- Rady Children's Hospital
- UC San Diego School of Medicine
What the program reaches in San Diego
Run a San Diego 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 does skipping mortgage insurance actually save at San Diego prices?
Enough to change the decision. On a high-balance loan, conventional MI at high LTV commonly runs into the hundreds per month until you reach the cancellation threshold. I will quote your specific scenario both ways rather than give you a rule of thumb — the number moves with credit score and LTV.
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 San Diego?
Tell me your timeline and your training stage and I will tell you what is realistic in San Diego — before you start looking at houses.
Also serving California
Physician loans in San Diego, CA.
One call, no credit pull. I will tell you what you qualify for and whether this is actually your best option.