Physician Loans in Nashville
Strong income ahead, thin savings today. There's a loan program built for that exact profile — here's how it works, from a lender who closes these files.
Physician loan programs let licensed medical professionals — MDs, DOs, dentists, and other eligible providers — buy a home with less cash at closing than a conventional loan requires, in many cases with no down payment and no mortgage insurance. They exist because a doctor finishing residency has something most buyers don't: a signed contract for income that hasn't started yet. If you're relocating to Nashville for a position at Vanderbilt, HCA, Ascension, or any of the systems hiring here, this program was built for your situation.
Nashville imports physicians. Every summer a new class finishes residency or fellowship and moves here with a real income about to start and almost nothing in the bank. Student loans took the cash. The paychecks haven't arrived. On paper, they look like buyers who should wait two years and save. Their degree says otherwise — and most of them have no idea, because nobody told them it changes the math.
Who qualifies. Eligible license types typically include MDs, DOs, dentists, and other designated providers — the exact list varies by program. The window runs from residency and fellowship through established attendings. The piece that surprises people: many programs can qualify you on a signed employment contract before your start date, so the gap between matching and the first paycheck doesn't have to keep you renting.
How the math works. The program cuts the cash required at the closing table, and a good agent can cut it further. Seller-paid closing costs, a fast close that gives your agent negotiating leverage, and the program's own structure stack together. One recent Nashville file: an $850,000 purchase, about $4,000 total out of pocket — the earnest money already on deposit exceeded what was owed at the table. Read the file →
Student loans. The other thing your degree came with. Physician programs frequently treat student loan debt differently than conventional underwriting does — often more favorably, depending on your repayment status and the specific program. Six figures of student debt is not an automatic no. It's a file-specific question, and it's usually the second thing we look at.
The honest trade. These loans can price higher than a comparable conventional option. That's the cost of the structure, and I'll show you the numbers for your exact scenario before you commit to anything. The real comparison isn't rate versus rate — it's what your down payment money does invested versus sitting in drywall. That's a comparison to run honestly, with the tradeoff named out loud, not a slogan.
Why files like this close here. The physician deals that fall apart late usually hinge on a contract start date or a program rule someone found in week three. Ours are underwritten in-house — the person deciding your file is someone I can walk over and talk to. That's why I can tell you early, and honestly, whether yours works.
Michael DiLucchio (NMLS #1638482) is a mortgage lender with Guild Mortgage in Nashville, Tennessee, specializing in physician, bank statement, asset depletion, and P&L mortgage programs.
Do physician loans really require no down payment?
Many physician programs offer low or no down payment options without mortgage insurance. The exact structure depends on the program, your license type, and the purchase price. It takes a full review of your file to know what you qualify for.
I'm finishing residency and my attending job hasn't started. Can I qualify?
Often, yes — physician programs are built for exactly this gap, and many can qualify you on a signed employment contract before your first paycheck. Timing rules vary by program, so the contract start date and close date have to line up. That's a file-specific review.
Do student loans disqualify me?
Not automatically. Physician loan programs frequently calculate student loan debt differently than conventional loans do. How yours are treated depends on your repayment status and the specific program.
Is a physician loan more expensive than a conventional loan?
It can carry a higher rate. Whether it's the better deal depends on what the down payment money would otherwise do for you — that's a comparison worth running with real numbers before you decide, not after.
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