Mortgage Options for Medical Residents

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Loan Programs for Residents 

If you're looking into home ownership during residency, it's worth doing a bit of homework. Most banks and mortgage brokers will advertise their standard programs but if you haven't found what you're looking for, PLEASE take the extra step and email/call/sit down with a lender. There may be flexibility when it comes to the loan programs that you qualify for.  

We suggest talking to multiple lenders to compare programs. Below are a few links to different Physician Loans but there are others out there. If you don't see one that fits your needs or prefer a different bank, JUST ASK THEM!  

PLEASE NOTE: exclusions may apply for the following loans and programs may have changed. Please contact the specified lenders for more information.


  1. Waterstone Mortgage  

CLICK HERE to see Waterstone Mortgage's Medical Professional Program

Medical Professional Program: 100% Loan to Value - Program Features

  • Available for eligible doctors and dentists who meet certain requirements as well as qualified medical professionals who begin residency after loan closing

  • 100% loan-to-value (LTV) available for loan amounts up to $650,000 with no mortgage insurance (MI); as low as 700 FICO

  • Refinances available up to 95% LTV for loan amounts up to  $2 million with lower LTVs

  • 5/1, 7/1, 10/1 Adjustable Rate Mortgage (ARM) or 15 year fixed programs available 

  • Available only to qualified home buyers in Illinois, Indiana, Kentucky, Minnesota, Phio, Pennsylvania, OR Wisconsin

Information courtesy of Ryan Smith, Waterstone Mortgage Branch Manager 

  1. UW Credit Union

  • Loan Type: 5/1 or 7/1 ARM (30-year amortization)

  • Maximum Loan Amount: 95% of purchase price (not to exceed $424,100).

  • Eligible Property Type: Single Family House or Warrantable Condominium

  • Minimum Credit Score:  680

  • Student Loan Debt: Omitted from debt/income calculation for qualifying.

Information courtesy of Rick McKinley, UW Credit Union Mortgage Loan Officer


  1.  Capitol Bank

CLICK HERE to see Capitol Bank's Physician Loan  

  • Less down: smaller down payment than standard loans and no private mortgage insurance (PMI)

  • Up to $750k: Borrow up to $750,000 to buy your first home or refinance the one you have

  • Student Loans: Student loans are counted as only 1% of the outstanding balance

Offer valid for purchase or refinancing of single family homes only. The property in question must be the primary residence of the individual securing the loan. Applicant must start employment in the medical field within 60 days of closing on the loan. Capitol Bank must receive proof of employment commitment prior to loan closing. Applicant needs a contract for residency or employment or must currently be employed as a physician, fellow, or resident. This offer is for medical doctors only as defined by the U.S. federal government. The maximum loan amount for this offer is $750,000. Subject to credit approval. Terms and conditions subject to change without notice.

Information courtesy of Amy Gile-Enge

Amy Gile-Enge NMLS #586017
VP / Real Estate Loan Officer

710 N. High Point Rd.
Madison, WI 53717 
Fax: 608-836-1615



Lizzy: 608-422-2824,

Spencer: 608-358-7622,