Physician Mortgage Loans

Absolutely! At NEO Home Loans, we understand that physicians often carry heavy student loan burdens and may not have years of income history. That’s why our physician home loan programs are designed to work with your situation, not against it. We don’t count deferred or forbearance student loans in your debt-to-income ratio, and we can even use your future income to help you qualify. So even if you’re still in residency or just starting out, you’ve got options.

One of the big benefits of NEO’s physician home loans is that you don’t need to put 20% down. We offer programs with as little as 0-5% down and no mortgage insurance, freeing up your cash for other priorities like paying down student loans or investing in your future.

Physician mortgage loans are specifically designed for medical professionals like you. Unlike rigid conventional loans, our physician loans at NEO have more flexible underwriting, allow higher loan amounts, and typically skip PMI altogether. We tailor these programs to your income trajectory and the realities of your career—because we know your path is unique.

Yes, and this is a huge advantage of working with NEO Home Loans. We’ll use your signed employment contract or offer letter to qualify you—even if you haven’t started your new job yet. That means you can move into your new home with confidence, knowing your future income is already working for you.

Yes, you can! We regularly help physicians close on their new homes up to 120 days before their job starts. That way, you’re not scrambling to find temporary housing or living out of boxes when you’d rather be focusing on your patients and your family.

If you’re an independent contractor, locum tenens provider, or private practice physician, you’re in good hands. NEO’s physician home loan programs understand the complexity of self-employment and 1099 income. We can often work with as little as six months of income history—much more flexible than traditional loans, which usually require two full years.

Yes, and this is one of the best parts of our physician home loans: no PMI, even with less than 20% down. That’s a huge savings every month, which can really add up over the life of your loan.

Your interest rate will depend on a few factors, like your credit score, down payment, and the specifics of your loan. Even though physician loans sometimes have slightly higher rates than conventional loans, the savings from no PMI and our flexible underwriting can make your overall payment lower. At NEO, we’ll help you shop the best options and lock in a great rate that works for your goals.

Not at all. Our physician home loans are designed for your evolving career. We don’t have prepayment penalties, so if you need to refinance or move for your next role, you can do so without getting hit with extra fees.

Yes! Many of our physician clients receive down payment or closing cost help from family. Gift funds are usually allowed with our programs, and we’ll make sure to walk you through how to document everything properly. Co-signers are also possible, depending on your situation.

We recommend getting pre-approved 60-90 days before your move. That gives us time to make sure everything’s lined up perfectly so you can move in seamlessly—often even before your first day on the job. With NEO, you’re not just buying a house; you’re setting yourself up for success in your new community.

This really depends on your plans and the local housing market. Some physicians choose to buy during residency using our physician home loan programs, especially if they plan to stay in the area long term. Others decide to rent if they’re not sure how long they’ll be there. We’re here to talk through the pros and cons with you, so you can make the best choice for your situation.

We’ll walk you through this step by step. Because our physician loans don’t count deferred student loans in your debt-to-income ratio, you might be surprised at what you can afford! We’ll base your approval on your current or future contracted income, so you can buy with confidence.

Physician home buyers tend to focus on areas with good schools, strong resale potential, and proximity to major hospitals. Our team and our Realtor partners know these areas inside and out. We’ll help you find neighborhoods that work for your lifestyle and your future.

Yes-homeownership comes with a few extra costs beyond your mortgage payment, like property taxes, insurance, HOA fees, and maintenance. We’ll help you estimate these so you’re never caught off guard.

New construction can be easier in terms of maintenance and updates, but it might come with a longer build timeline and higher cost. Existing homes may have more character and be move-in ready. We’ll talk through what fits your schedule and your goals best.

We work with a network of Realtors who specialize in helping physicians relocate and settle in quickly. They understand the tight timelines and the unique pressures you face, so you’ll have a true advocate in your corner.

Absolutely. Our physician home loans are built for relocations and can help you close on a new home before you’re fully credentialed in the state, as long as you have a signed contract and start date. We’ll help you navigate this seamlessly.

We recommend contingencies for financing, your job start date, and your relocation timeline. These protect you if things change unexpectedly. Our team will work with your Realtor to make sure you’re covered.

Don’t worry—our physician loan programs let you close before you start your job, up to 120 days ahead. That flexibility helps you avoid moving twice or scrambling at the last minute.