10 Best Physician Mortgage Loans in Florida

Physicians and dentists often find themselves in a position of balancing massive amounts of student debt with their dream of owning a home. But it doesn’t have to be an either-or situation thanks to physician mortgage loans in Florida.

The Florida real estate market continues to outpace the rest of the country. According to Florida Realtors recent housing data, the median home purchase price statewide in January 2024 was $405,000. This is in stark contrast to other states facing steep declines in their property markets.

With a Florida physician loan, you'll have an edge that makes your offer stand out. It could also give you a broader range of properties to purchase compared to other borrowers who can only access conventional, conforming loan options.

Plus, in Florida, you have one of the most competitive doctor mortgage marketplaces in the country. Most every bank that offers physician mortgages makes their program available in Florida due to easier regulations.

We'll go over program features of several Florida physician mortgage lenders so you can make the right home financing decision for you.

Florida Doctor Mortgage Lenders	0% Down Loan Limit	Who Can Qualify	Unique Features
BMO	Min 5% down	MD, DO, DDS, DMD	Lends in majority of the country
Fifth Third Bank	$750,000	MD, DO, DDS, DMD, DVM, OD	Lends to various visa holders
First Horizon Bank	$1.5 million	MD, DO, DPM, OMS	Need at least 670 credit score
First National Bank	$1.25 million	MD, DO, DDS, DMD, DVM	Eastern US focus
Regions	$750,000	Most grad degrees	Close before job begins
TD Bank	$1 million	MD, DO, DDS, DMD, DPM, OMS	Requires a DTI of 43%
Truist	$1 million	MD, DO, DDS, DMD, DPM	Within the past 15 years of training
UMB Bank	$1 million	MD, DO, DDS, DMD, OD, PharmDs	No age or timeline restrictions
US Bank	Min 5% down	MD, DO	Dentists not eligible
Wintrust Mortgage	$850,000	MD, DO, DDS, DMD, DPM, PharmD, DC	Two-unit properties eligible

10 Top physician mortgage loans in Florida

If you’re buying your next home in the Sunshine State, consider these lenders that offer this specialty mortgage program to Florida doctors and dentists.

Note that most physician loan programs are only available for purchasing or refinancing a primary residence. In some cases, second homes might be eligible. But this type of loan can’t be used for an investment property.

You can get started with your search using the form below to get matched with lenders like the ones below, or keep reading.

1. BMO Bank, N.A.

BMO Bank, N.A. serves more than 12 million customers, with over 500 branches in Arizona, Florida, Illinois, Indiana, Kansas, Minnesota, Missouri and Wisconsin. The Florida branch is located in Brandon.

The BMO Bank, N.A. physician mortgage program is available to residents, fellows and existing (or newly licensed) medical doctors. This includes those with MD, DDS, DMD and DO degree designations.

Financing options include:

• 5% down for up to $1.5 million
• 10% down for up to $2 million

Read our full BMO Bank, N.A. review

2. Fifth Third Bank

Fifth Third Bank’s doctor mortgage program is open to residents, fellows, physicians, and dentists (MD, DO, DDS, DMD). They also have options for podiatrists, veterinarians, and optometrists (DPM, DVM, and OD degrees).

Financing options available from Fifth Third include:

• 0% down for up to $750,000
• Low down payment for up to $1.5 million
• 10% down for up to $2 million (established doctors and dentists only)

Established physicians need to have been employed or self-employed for at least 12 months.

Also, student loans in deferment or forbearance for at least 12 months after closing are excluded from DTI calculations.

Contact: Sandy Salas

Read our full Fifth Third Bank review

3. First Horizon Bank

First Horizon Bank has a flexible physician mortgage option for MD, DO, OMS and DPM professionals. It comes with no upfront PMI, higher loan amounts and very low credit score requirements — borrowers with a score of 670 can qualify. You can also close up to 90 days before starting a new job, so long as you have an employment contract in hand.

Financing choices include:

• 0% down for up to $1.5 million
• 5% down for up to $2 million
• 10% down for up to $2.5 million

They also offer H-1B visa non-citizens loans and 100% financing.

Read our full First Horizon Bank review

4. First National Bank

First National Bank’s Doctor Loan program is available to eligible MDs (Doctor of Medicine), DOs (Doctor of Osteopathic Medicine), dentists, veterinarians, and podiatrists who are less than 10 years from training.

Those with greater than 10 years are still eligible, but are required to put down a minimum of a 10% down payment. H-1B and green card holders are encouraged to apply. To be approved, one must provide his or her signed offer letter or employment contract.

Financing options include:

• 0% down for up to $1.25 million.
• 5% down for up to $1.5 million.
• 10% down for up to $2 million.

Cash out refinancing is available for up to 80% of the loan. You could also consider either a 30-year or 15-year fixed-rate mortgage, in addition to various adjustable-rate mortgage (ARM) options such as 15-year, 10-year, 7-year, and 5-year terms.

Contact: Josh Feldman

Read our full First National Bank review

5. Wintrust Mortgage

The Doctor Loan Program by Wintrust Mortgage could be your key to homeownership if you're an MD, DO, DPM, DDS, DMD, Chiropractor, or PharmD. Financing is even open to resident with less than six months left and fellows.

Financing options include:

• 100% for up to $850k
• 97% for up to $1.25 million
• 95% for up to $1.5 million
• 90% for up to $2 million
• 80% for up to $3 million

As you can see, you have the opportunity to obtain loans up to $3 million, with the advantage of including future income for closings within 90 days of your job start.

Contact: Mike DeRaspe.

6. Regions Bank

Regions Bank’s physician mortgage loan program provides up to 100% financing for loans and no PMI. This program is available to Florida pharmacists, nurse anesthetists, nurse practitioners, physician assistants, veterinarians, chiropractors, optometrists, podiatrists, MDs, DOs, DMDs, and DDSs. Residents and fellows are eligible, as are licensed attorneys.

If you’re interested in funding the purchase of your next home, you can expect a 0% down payment, if you're an MD, DDS or DO. Otherwise, Regions Bank requires a 3% down payment.

Financing options include:

• 30- and 15-year fixed-rate
• 10-, 7- and 5-year ARMs
• Construction to permanent loans

In addition, Regions Bank can exclude (with review) some deferred student loan payments from your DTI ratio, making it easier to qualify for the mortgage amount you are seeking. One great thing to know about this program is that there is no cap on the loan amount that you apply for.

You can close up to 90 days before the listed start date on your employment contract or date of transferred employment. However, it is important to note that non-permanent visa holders are not eligible.

7. TD Bank

TD Bank doctor mortgages are a great option for physicians, dentists, and podiatrists seeking up to 100% financing with no PMI. Residents and fellows can also qualify, with an added bonus of being able to close up to 90 days in advance of your start date.

You need one of the following degree types to qualify: MD, DO, DPM, DDS, or DMD.

Here are the TD Bank loan specifics:

• 0% down for loans up to $1 million
• 5% down for purchases up to $1.5 million
• 10.01% down for purchases up to $2 million

TD Bank has 30 year fixed as well as adjustable rate mortgage (ARM) financing options. They also offer flexible underwriting to those with large student loan balances. Doctors with green cards and those on H-1B visas can also qualify.

Contact: Neil Surgenor

Read our full TD Bank review

8. Truist

Florida doctors and dentists have access to the Truist doctor mortgage loan. Practicing physicians with an MD, DO, DPM, DDS or DMD can finance up to $1.5 million. Whereas licensed residents, interns and fellows in an MD, DO or DPM program are limited to $750,000.

Practicing physicians with less than 10 years of experience have the following financing options:

• 0% down for up to $1 million.
• 5% down for up to $1.5 million.
• 10.01% down for up to $2 million.

However, if you have 10 to 15 years of post-residency experience, you’ll be limited to 89.99% financing for up to $1.5 million.

Contact: Matt Albert

Read our full Truist review

9. UMB Bank

UMB Bank’s Doctorate Professional Mortgage Loan offers no required private mortgage insurance (PMI), up to 80% cash-out refinancing, no age restrictions, and low down payment options to those with an MD, DO, DDS, DMD, OD, PharmD or JD.

Borrowers must have an employment contract or signed offer letter, a copy of their license, and close within 60 days of contract acceptance. Those who are medical residents must also have a minimum household income of $150,000 to be approved.

Financing options include:

• 0% down for up to $1 million
• 5% down for up to $1.5 million
• 10% down for up to $2 million

15, 20, and 30 year fixed-rate and 5/1, 7/1, and 10/1 year adjusted-rate mortgage options are available.

10. U.S. Bank

The professional mortgage options at U.S. Bank are available for lawyers, as well as medical physicians, including residents, fellows, and doctors of osteopathy (DO). Dentists and nurses are not eligible at this time. However, lawyers are welcome to apply.

You can borrow up to $2.5 million, but you’ll need a minimum down payment:

• 5% down for up to $1 million
• 10% down for up to $1.5 million
• 15% down for up to $2 million

Read our full U.S. Bank review

How a Florida physician mortgage works

A physician mortgage loan can make homeownership a reality much sooner than a conventional mortgage. This type of loan, sometimes called a doctor loan program, is typically available to physicians and dentists. However, depending on the lender, other high salary professions that carry high student debt might also be eligible.

For example, some physician mortgage loans in Florida include veterinarians as a qualifying profession. Other lenders might include architects, attorneys or other six-figure healthcare professionals like nurse anesthetists.

How does a physician mortgage differ from a conventional mortgage?

So, what makes a physician mortgage more advantageous for these professions?

One of the biggest benefits to using a physician mortgage program is that you typically don’t need to provide a down payment. If you do, it’s considerably lower than the 20% down payment requirement of a conventional mortgage.

This is usually for borrowers wanting to access higher loan amounts (e.g. over $1 million), which might require a 5% or 10% down payment.

Additionally, you won’t need to carry private mortgage insurance (PMI) even if your down payment is a whopping $0. If you bring less than 20% to the table with a conventional loan, PMI will likely be a requirement. PMI alone can cost hundreds of dollars each month.

Other exclusive perks include:

• Favorable treatment of student loan debt when determining your debt-to-income ratio, or DTI for short.
• Competitive interest rates for large loan amounts that would normally result in a jumbo mortgage loan with higher rates.
• Relaxed income requirements (e.g. ability to close several months before your start date with an acceptable employment contract).

Although there are some great pros to physician mortgage loans in Florida, there’s a major disadvantage if you aren’t careful.

Because of the relaxed requirements, you might qualify for a much larger loan than with other mortgage programs. This can become a serious problem if you can’t actually afford the mortgage payment that comes with a million-plus-dollar home.

Should you move forward with a Florida physician mortgage loan?

Physician mortgage loans in Florida have various eligibility requirements, including how student debt is treated during the underwriting process. In many cases, they’ll use your actual monthly payment amount under an income-driven repayment (IDR) plan.

This can be extremely beneficial for borrowers with large six-figure student debt — allowing you to qualify for a loan amount you might not otherwise be eligible for.

Additionally, doctor mortgage loans help you get into your dream home with little or no down, and zero PMI payments. This mortgage option lets you avoid years of saving up for a large down payment or locking yourself into costly PMI payments.

If a physician mortgage sounds like the right path for you, hold steady during the home buying process and stick to your original budget. The last thing you want to do is sign for a loan amount that you can’t safely afford.

If the location of your next home is flexible, use our physician mortgage loan finder to jumpstart your search for programs in other states.