Home Loans for Medical Doctors in Indianapolis
Specialized Mortgage Options for
Physicians and Residents
If you’re a medical doctor, resident, or new physician looking to buy a home in the Indianapolis area, you may already know that traditional mortgages can be tough to qualify for.
High student loan debt, limited savings, and lower starting salaries often make standard home loans out of reach for medical professionals.
That’s why many banks now offer Physician Home Loans—also known as Doctor Mortgage Loans or Dr Loan Mortgages—which are designed specifically for doctors and other medical professionals. These loans offer unique benefits like little-to-no down payment and no PMI, helping you achieve homeownership faster.
At The Mills Team, we specialize in guiding doctors, residents, and other healthcare professionals through these physician lending programs. We’ll answer your questions, compare your options, and help you secure the best mortgage to start building your future today.
Who is Eligible?
Not every homebuyer qualifies for a doctor mortgage loan, but if you’re in the medical field, there’s a good chance you do. Physician home loans are designed for:
- Medical Doctors (MD, DO) – Residents, fellows, and attending physicians
- Dentists (DDS, DMD) – Including residents and practicing dentists
- Veterinarians (DVM) – Many programs consider veterinarians eligible
- Certain Medical Specialists – Some lenders extend eligibility to:
- Podiatrists (DPM)
- Osteopaths
- Other advanced medical degree holders (varies by lender)
Additional Eligibility Factors:
- Must have a signed employment contract or proof of current employment
- Generally must have a good credit score (varies by lender)
- Most programs are for primary residences only (single-family homes are easiest to approve; condos may have restrictions)
- Student loan debt is often not fully counted against your debt-to-income ratio
If you’re a resident doctor moving to Indianapolis or a newly practicing physician ready to buy your first home, you may qualify for little-to-no down payment and no PMI with a physician loan.
👉 Ready to find out if you’re eligible? Contact The Mills Team today to get a free assessment.
How the Mills Team works with medical professionals
When you’re buying a home, it’s always better to have options. The Mills Team helps can help you explore the best home loan solutions so you can find the one that fits your life and career.
Clear, Simple Advice
We’ll help you figure out which doctor mortgage loan works best for your unique situation.
Connections That Count
We’ll connect you with mortgage professionals who offer physician home loans designed to fit your needs.
Stress-Free Process
From paperwork to closing day, we’ll keep things smooth and on track so you can focus on your career.
What is a Physician (Doctor) Home Loan?
A physician home loan is a specialized mortgage for doctors that:
- Requires little to no down payment (0-5%)
- Waives private mortgage insurance (PMI)
- Accepts employment contracts as proof of income
- Often ignores student loan debt in debt-to-income calculations
- Provides flexible lending for new residents and attending physicians
Pro Tip: Physician home loans are ideal for single-family homes, while condos may have additional requirements.
Why Doctors Need a Specialized Home Loan
Every year, a new wave of physicians completes medical school or residency and relocates for work. But here’s the challenge:
- High student loan debt with little savings
- No proof of long-term income until your contract begins
- Often moving before your first paycheck arrives
Traditional lenders see this as risky—but banks know doctors have strong future earning potential. Physician mortgage loans were created to make homeownership possible for medical professionals.
Other Home Loan Options for Doctors
While physician home loans are powerful, The Mills Team will review all mortgage options to determine the best path:
- Conventional 20% Down Mortgage: Lowest fees and rates but requires significant cash.
- FHA Loan: 3.5% down, mortgage insurance applies.
- VA Loan: 0% down for qualified veterans, no PMI.
- Conventional <20% Down: Requires PMI and higher rates.
- 80/10/10 Combo Loans: Avoid PMI with layered loans but at higher interest rates.
Not sure which option is best? We’ve helped hundreds of medical professionals in the Indianapolis area find the right home loan solution for their situation.
Rates & Fees for Physician Home Loans
While physician home loans are powerful, The Mills Team will review all mortgage options to determine the best path:
- Conventional 20% Down Mortgage: Lowest fees and rates but requires significant cash.
- FHA Loan: 3.5% down, mortgage insurance applies.
- VA Loan: 0% down for qualified veterans, no PMI.
- Conventional <20% Down: Requires PMI and higher rates.
- 80/10/10 Combo Loans: Avoid PMI with layered loans but at higher interest rates.
Indianapolis Physician Lending Experts
The Mills Team has helped hundreds of physicians and medical residents finance homes across the Indianapolis area. Whether you’re moving for residency or upgrading to your dream home, we’ll guide you through every step of the process.
✅ Call or text us today to learn more about doctor mortgage loans and start your pre-approval.
Learn more about FHA, VA, and conventional mortgages (Consumer Finance Protection Bureau).
Start Your Physician Loan Journey Today
Whether you’re a resident, fellow, or attending physician, The Mills Team is here to help you secure your first or next home in Indianapolis.
Frequently Asked Questions about Physician Home Loans
Yes, but some lenders may require a larger down payment or additional condo approval.
No, that’s one of the biggest benefits—you can avoid private mortgage insurance entirely.
Often, student loans are excluded from your debt-to-income ratio under physician loan programs.
Many programs allow 0-5% down, depending on your credit and lender.
Yes! Most physician mortgage programs accept a signed employment contract as proof of income.
