Doctor mortgages for dentists: lenders compared

How we handle this page: no mortgage lender pays us, and none can. Section 8 of the Real Estate Settlement Procedures Act (RESPA) covers this. No one may give or accept a fee or “thing of value” for referring mortgage business. The CFPB’s rule adds that a referral “is not a compensable service.” So there are no paid links and no pick here.

The lenders below are named because they include dentists in their programs. Facts come from each lender’s own page, checked Sept. 26, 2026. They’re advertised features, not offers.

How doctor mortgages work

A conventional loan with less than 20% down usually requires private mortgage insurance (PMI). The CFPB notes that PMI “protects the lender—not you.” Doctor mortgage programs don’t require it.

Lenders describe three main differences:

• Low or no down payment. Several lenders finance up to 100% on loans up to about $1 million, with less financing above that.
• No PMI. Every lender below except Bank of America says PMI isn’t required on its program. Bank of America’s doctor loan page doesn’t mention PMI, so ask.
• Student loans treated differently. Some lenders say they can leave deferred student loans out of your debt-to-income ratio (DTI). Truist, for example, says student debt “may be excluded” if it’s deferred for at least 12 months after closing.

Several programs also let you close on a job contract. Bank of America (for residents and fellows), BMO and Huntington all mention closing up to 90 days before you start work.

Which lenders name dentists (as of Sept. 26, 2026)

Lender	Names DDS/DMD?	Financing it advertises	Limits it lists
Bank of America Doctor Loan	Yes, DDS and DMD	3% down to $850,000; 5% to $1M; 10% to $1.5M; 15% to $2M	Can “often exclude” student debt with documentation
Truist Doctor Loan	Yes, DDS and DMD	100% to $1M; 95% to $1.5M; 89.99% to $2M	Primary homes only. 89.99% max at 10–15 years out of training; 15+ years needs Truist Wealth. Not in Alaska, Arizona or Hawaii
Fifth Third Physician Loan	Yes, “Dentist (DDS or DMD)”	Up to $2.5M; loan-to-values up to 100%	Fixed and ARM loans offered
KeyBank Medical Professional Loans	Yes, DDS and DMD	Up to $3.5M	Fixed or variable rate. Actively practicing, with a current license
Regions Doctor Loan	Yes, “DMD/DDS”	No down payment to $1M; low down payment to $2M	Can close before your job starts
BMO Physicians’ Mortgage	Yes, DDS and DMD	100% to $1M; 95% to $1.5M; 89.99% to $2M	Primary homes, not in New York. 95% max at 5–10 years in practice; not eligible past 10 years. Capped at 95% in seven states and D.C.
Huntington Doctor Loan	Yes, DMD and DDS	100% to $1M; 95% to $1.75M; 89.99% to $2.5M	Primary homes; financing options vary by FICO score
Panacea (loans through Primis Mortgage)	Yes, “Dentists (DMD & DDS)”	Up to 100%	Its doctor loan has an adjustable rate. Only in states where Primis Mortgage is approved

Lender pages not in this page’s source list: Bank of America, Fifth Third, KeyBank, Regions and Panacea. We aren’t paid by any of them.

ADA members: KeyBank says active ADA members get a 0.25% mortgage rate discount if they’re members at least five days before closing. It also lists a lender credit of up to $650, on the same membership timing, capped at your actual closing costs. The rate discount can’t be combined with other interest rate incentives. Panacea is the ADA’s practice-financing partner; we didn’t find a mortgage discount on its mortgage page.

Every lender says its program is subject to credit approval and can change. Call two or three and ask for a Loan Estimate on the same day.

The trade-offs

Rate. A doctor loan may carry a different rate than a conventional loan with 20% down. Lenders don’t publish one comparison, so ask each for both quotes side by side.

Adjustable rates. Some programs lean on adjustable-rate mortgages (ARMs). Panacea’s doctor loan is adjustable. BMO explains that an ARM’s rate is fixed “for a short period of time,” then adjusts, and your payment changes with it. If you plan to stay past the fixed period, price a fixed rate too.

No equity at the start. Truist warns about 100% financing. You have “no property equity until the borrower pays down the loan principal.” If prices fall, you could owe more than the home is worth. That hurts if you need to move for a job or to buy a practice.

Student loans don’t disappear. A lender excluding a deferred loan from DTI helps you qualify. It doesn’t lower what you’ll owe once payments start. Under RAP, payments run 1% to 10% of your total AGI (see the RAP guide).

Limits. Several programs are for a primary home only. Several exclude investment properties and second homes. Some have caps on years in practice.

The math: down payment vs rate

Example: a $600,000 home.

• Doctor loan, 0% down: $600,000 at a 6.75% fixed interest rate for 30 years is about $3,890 a month in principal and interest. That’s about $1.40 million over the loan.
• Conventional, 20% down: $480,000 at a 6.50% fixed interest rate for 30 years is about $3,030 a month, about $1.09 million over the loan. You’d need $120,000 in cash. (These use interest rates; each loan’s APR, which adds fees and any mortgage insurance, would be higher.)
• Same loan, a quarter point apart: $600,000 at 6.50% instead of 6.75% saves about $100 a month.

Examples, not offers. Rates depend on your credit, the lender and the market. Taxes, insurance and closing costs are extra.

The $120,000 you keep with a doctor loan has a cost: about $860 more a month in this example. That can still make sense if the cash goes toward an emergency fund, high-rate debt or a practice. It rarely makes sense just to buy a bigger house.

Who should wait

In a one-year associate contract, or if you might move for a practice, you could pay closing costs twice in a short time. If your student loan plan isn’t settled, sort that first. See refinance vs PSLF vs RAP. And if your credit needs work, see build credit before you refinance; the same habits help a mortgage.

What to do next

1. Set your budget with the real student loan payment in it, not the lender’s DTI. See your first associate paycheck budget.
2. Pick lenders that serve your state and your years in practice, using the table.
3. Ask each for two Loan Estimates: a doctor loan and a conventional loan, fixed rate, same day.
4. Ask if the rate is fixed or adjustable, and if adjustable, when and how it can change.
5. If you’re an ADA member, ask KeyBank to apply the member discount before you lock.