Doctor Loans in Alabama and Florida

Up to 100% financing. No mortgage insurance. Your student loan payment counted the way it is actually being paid.

A physician loan lets you buy without the down payment a conventional loan would demand, and without the monthly PMI that normally comes with putting less down. If you are a resident, a fellow, or an attending inside the first few years of practice, it is often the difference between buying now and buying in three years.

It is not automatically the better loan. It is a trade, and the trade only pays off for some files. We will run your numbers on a doctor loan and on a conventional loan and hand you both, then tell you which one we would take.

Get your quote. It takes about ten minutes and it does not touch your credit to start.

Who qualifies for a doctor loan

Physician loan programs in Alabama and Florida generally open to:

MD, DO, DDS and DMD
Residents and fellows, usually including those still in training
Podiatrists, optometrists and veterinarians at most lenders
Physician assistants, nurse practitioners and nurse anesthetists at some lenders, often at a lower financing tier
Pharmacists and chiropractors at a smaller set of lenders

Credit expectations usually start at a 680 score. The higher your score, the more of the 100% financing tier stays available to you.

What the program actually gets you

Financing up to 100%

Zero down is real on this program for qualifying MDs, DOs, DDSs and DMDs. Higher loan amounts step down to 5% or 10% as the balance climbs. Where your file lands depends on the loan size, your score, and how many years past training you are.

No private mortgage insurance

This is the piece that carries the most money. On a conventional loan with 5% down, PMI on a $600,000 purchase commonly runs somewhere between $237 and $475 a month. A physician loan removes it at any down payment tier. Over five years that is real money, and it is money that never comes back to you.

Student loans counted the way you pay them

This is the part that decides the most approvals, and it is where the most files get killed by accident.

Most physician programs will use your documented income driven payment, which means IBR, PAYE or ICR, instead of a percentage of the balance. If your payment is $310 a month on $290,000 of student debt, a physician program can use $310.

The trap is forbearance. A loan sitting in forbearance has no payment to document, so the underwriter substitutes a placeholder of roughly 0.5% to 1% of the balance. On that same $290,000, the placeholder is $1,450 to $2,900 a month. That is what pushes a debt to income ratio past the limit, and it has nothing to do with what you actually pay.

It is a documentation problem, not a debt problem, and it is usually fixable before we submit. We walk through the whole mechanic in what actually decides a physician loan approval in 2026.

What it costs you

We are not going to sell this as free.

Physician loan rates typically run about 0.125% to 0.375% higher than a comparable conventional rate. The lender is carrying the risk that mortgage insurance would normally cover, and that shows up in pricing.

So the question is arithmetic. The rate premium costs you every month. The absent PMI saves you every month, and the smaller down payment leaves cash in your account. On most files inside the first years of practice the physician loan wins clearly. On a file with 12% down, a 780 score and modest student debt, conventional often wins.

Run estimate your monthly payment if you want a rough number now. Then let us price both.

When we tell physicians to go conventional

You have 10% or more to put down and your student debt is light. The PMI you are avoiding is small and the rate premium is not.
You plan to be out of the house inside three years. The savings need time to outrun the higher rate.
You are buying a Florida condo that a physician program will not take. See conventional loans in Alabama and Florida.

If you are earlier than that, look at first time homebuyer programs too. Some physicians qualify for both and the stacked version wins.

What is different about Alabama and Florida

Alabama

Alabama is usually an employment contract timing question. Most physician programs will close on a signed contract with a start date up to 60 to 90 days out, which is what lets a resident buy before the first paycheck lands. The contract has to be signed and it has to state the salary. A verbal offer is not a document.

Florida

Florida is an insurance and condo question. Your loan can be approved and the deal can still fall apart on a homeowners insurance quote or on a condo project that will not pass review. No loan program fixes an insurance number. We pull insurance early on Florida files for this reason, before you are emotionally committed to the house.

Closing costs

Zero down does not mean zero cash. You still have closing costs and prepaids. If cash to close is the binding constraint rather than the down payment, look at lender credits toward your closing costs. A credit can cover thousands of it in exchange for a slightly different rate, and on a physician file that trade is often worth taking.

How to start

Send us your employment contract or offer letter, and your most recent student loan statement showing the payment.
We price the physician loan and the conventional loan side by side.
You get both, in writing, with the monthly difference and the five year difference.
If your student loans are in forbearance, we tell you what to change before we submit.

Get your quote.

Frequently asked questions

Can a resident get a doctor loan before starting the job?

Usually yes. Most physician programs will use a signed employment contract with a start date inside 60 to 90 days of closing, and qualify you on the contracted salary rather than your resident income. The contract has to be signed and it has to state the salary.

Do physician loans really have no PMI?

Correct, at any down payment tier the program allows, including zero down. That is the core of the product. You pay for it in the rate instead.

How do lenders count my student loans on a physician loan?

Most programs use your documented income driven payment under IBR, PAYE or ICR. If the loan is in forbearance and has no documented payment, the underwriter uses a placeholder of roughly 0.5% to 1% of the balance instead, which is much larger. Getting onto a documented plan before you apply is often the single highest value thing you can do.

Is a doctor loan more expensive than a conventional loan?

The rate is typically 0.125% to 0.375% higher. Whether the loan is more expensive overall depends on the PMI you avoid and how long you keep it. We price both and show you the difference in dollars.

What credit score do I need?

Most physician programs start at 680. The 100% financing tier generally wants more than the minimum, and the exact cutoff moves with the loan amount.

Can I use a doctor loan for a second home or investment property?

No. Physician loan programs are for a primary residence. For an investment purchase we would look at conventional or a portfolio option.

Does Mountain Mortgage lend in both Alabama and Florida?

Yes. Mountain Mortgage is licensed in both, and we run physician files in both states.

Get your numbers

Send the contract and the student loan statement. We will come back with the physician loan and the conventional loan priced side by side, and a straight answer about which one we would take in your position.