March 28, 2023

Key Takeaways:

  • Doctor mortgage loans in Texas can be found to medical medical doctors, dentists and different high-earning professions that sometimes carry massive quantities of scholar debt.
  • Texas doctor residence loans don’t require personal mortgage insurance coverage (PMI), saving you a whole lot of {dollars} every month.
  • Physician mortgage choices embrace as much as 100{5d900b5cef8a1d0ddf57da84d6aa2b178a5cc18a9524d574352760010a41eed0} financing with excessive mortgage quantities reaching as much as $1 million or extra.

Texas has over 87,000 training physicians, in response to knowledge from the Texas Medical Board. This quantity is predicted to develop as folks and companies flock to the state. A Texas doctor mortgage may help your provide stand out and put you in your dream residence sooner.

This information will present you the professionals and cons of a Texas physician mortgage in addition to high lenders to think about.

Advantages of Texas doctor mortgage loans

A doctor mortgage mortgage, typically referred to as a physician mortgage, can typically make proudly owning a house a actuality a lot prior to a standard mortgage.

These applications have unique advantages, equivalent to:

  • No down cost financing. Many doctor mortgage lenders provide as much as 100{5d900b5cef8a1d0ddf57da84d6aa2b178a5cc18a9524d574352760010a41eed0} financing. Nevertheless, a small down cost (e.g. 5{5d900b5cef8a1d0ddf57da84d6aa2b178a5cc18a9524d574352760010a41eed0} to 10{5d900b5cef8a1d0ddf57da84d6aa2b178a5cc18a9524d574352760010a41eed0}) is likely to be required to entry greater mortgage limits.
  • No personal mortgage insurance coverage requirement. It can save you a whole lot of {dollars} every month by dodging the PMI requirement that sometimes comes with a down cost of lower than 20{5d900b5cef8a1d0ddf57da84d6aa2b178a5cc18a9524d574352760010a41eed0}.
  • Favorable therapy of scholar mortgage debt. Every doctor mortgage lender treats scholar mortgage debt in a different way when calculating your debt-to-income ratio, however most offer you favorable therapy throughout underwriting
  • Decrease rates of interest than a jumbo mortgage. In the event you’re trying to buy a million-dollar residence, you may typically hold your rate of interest low with a doctor mortgage mortgage.

Get Quotes for Your Physician Mortgage

What mortgage product would you want a quote for?

Step 1: Job

Step 2: Residence

Step 3: Your Information

What’s Your Occupation Standing At the moment?


What most intently represents the worth vary of the home you’re trying to find?

What’s your most well-liked down cost?

What stage are you at within the residence shopping for course of?

How quickly do you hope to safe a mortgage approval?

What number of banks would you want quotes from?

Have you ever skilled any bankruptcies or brief gross sales?