How Does the Doctor Loan Program Work for Physicians Buying a Home in Sacramento, Placer, El Dorado, and Yolo Counties?

Your career is demanding. Your mortgage shouldn't be.

If you're a physician, dentist, pharmacist, CRNA, or veterinarian in the greater Sacramento area, there's a specialized loan program built specifically for you that almost no traditional lender talks about. It accounts for the realities of medical training: heavy student loan debt, delayed earning timelines, employment contracts that haven't started yet, and limited cash reserves after years of school.

I'm Chris Kennedy, a Sacramento-based mortgage lender (NMLS #971546) serving physicians and other eligible medical professionals across Sacramento, Placer, El Dorado, and Yolo Counties. Here's exactly how the Doctor Loan program works.

What Is the Doctor Loan Program?

The Doctor Loan is a specialty mortgage program for licensed medical professionals that ignores most of the traditional barriers to homeownership. Instead of penalizing you for student debt and a delayed earnings ramp, it underwrites you based on your career trajectory and earning potential.

Program Highlights

• Up to 100% financing — meaning you can buy with no down payment

• No mortgage insurance required — even at high LTV

• Loan amounts up to $2 million

• Tailored to any career stage — including residents, fellows, and interns

• Fixed-rate options — 15, 20, 25, and 30-year terms

• Hybrid ARM options also available

That combination — zero down, no PMI, and high loan limits — does not exist in any other mainstream loan program.

Who Qualifies for a Doctor Loan?

The eligibility list is specific. At least one borrower whose income is being used to qualify must hold one of the following licensed designations:

• Medical Doctor (MD)

• Doctor of Osteopathy (DO)

• Doctor of Dental Science or Surgery (DDS)

• Doctor of Dental Medicine (DMD)

• Doctor of Ophthalmology (MD or DO)

• Doctor of Psychiatry (MD or DO)

• Doctor of Pharmacy (PharmD)

• Doctor of Veterinary Medicine (VMD)

• Doctor of Podiatric Medicine (DPM)

• Certified Registered Nurse Anesthetist (CRNA)

• Medical residents, fellows, and interns who hold one of the above degrees

Borrowers must hold a minimum of an MD, DO, DDS, DNP, DNAP, or DMD degree, and have an active employment contract — or verification of accepted employment terms. That last part is critical: you can use the Doctor Loan before your job starts, which is a game-changer for residents and fellows relocating to the Sacramento area.

Loan-to-Value and Credit Requirements (Eligibility Matrix)

For a primary residence (purchase or rate-and-term refinance, 1-unit only):

• 680 FICO — up to 95% LTV, max loan $2,000,000

• 680 FICO — up to 100% LTV, max loan $1,500,000

• 720 FICO — up to 100% LTV, max loan $2,000,000

Additional notes for transactions with LTV above 90.01%:

• Mortgage insurance is not required

• Secondary financing is not allowed

• Escrow/impound accounts are required (unless prohibited by applicable law)

• Minimum LTV is 90.01% (this is a high-LTV program by design)

For ARM loans and 15-year fixed loans, the maximum debt-to-income ratio is 45%.

Why the Doctor Loan Beats Traditional Mortgages for Physicians

Here's where the program really shines for medical professionals:

1. Student Loan Treatment

Traditional underwriting can hammer your debt-to-income ratio with student loan payments — often using a percentage of total balance instead of your actual income-driven payment. The Doctor Loan handles student debt with far more flexibility.

2. Delayed Earning Timelines

Residents earn a fraction of their attending salary for 3 to 7 years. Conventional lenders look at your current pay and shrug. The Doctor Loan looks at your contract and your trajectory.

3. Employment Contracts Before Start Dates

Moving to the Sacramento area for a new role at UC Davis Health, Sutter, Kaiser, Mercy, Shriners, or Dignity? You can close on a home before your first day of work, using your signed employment contract.

4. Cash Preservation

Most physicians don't want to throw their entire savings at a down payment after a decade of training. With up to 100% financing, you can preserve cash for moving costs, furnishings, emergency funds, or simply breathing room.

5. No PMI

On a $1.5 million Sacramento area home with 5% down, eliminating PMI alone can save several hundred dollars a month over the life of the loan.

Common Use Cases I See

• Resident or fellow relocating to UC Davis Medical Center, Mercy San Juan, Sutter Roseville, or Kaiser Roseville and wanting to buy instead of rent

• New attending physician signing a contract in El Dorado Hills or Folsom and needing to close before the start date

• Established dentist in Roseville or Davis wanting to refinance into a Doctor Loan to drop PMI

• Pharmacist couple in Sacramento County buying their first home together

• CRNA transitioning from staff to independent contractor and needing flexible underwriting

• Veterinarian opening a practice in Placer County and buying a home simultaneously

County Notes for Sacramento Area Physicians

Sacramento County: Largest concentration of medical employers — UC Davis Health, Sutter, Kaiser, Mercy, Dignity, Methodist, Shriners, Sacramento VA. Most diverse housing inventory and price points.

Placer County: Sutter Roseville, Kaiser Roseville, plus commutes to Sacramento. Higher home prices in Roseville, Rocklin, Granite Bay, and Auburn — the high $2M loan ceiling matters here.

El Dorado County: El Dorado Hills, Cameron Park, and Folsom-adjacent areas are popular with attending physicians wanting space without leaving the metro. Marshall Medical is the local employer; many also commute to Sacramento.

Yolo County: UC Davis Medical Center adjacency keeps Davis and Woodland tight markets. Strong demand for both first-time buyers and established physicians moving for academic positions.

What's Required to Apply

To start, you'll generally need:

• Active medical license in your designation

• Signed employment contract or offer letter (with start date)

• Recent pay stubs (if currently employed)

• Two years of W-2s or 1099s

• Two months of bank statements

• Proof of student loan status (for DTI calculation)

• Authorization for credit pull

For residents and fellows, the contract often does most of the heavy lifting.

Important Disclaimers

All loans are subject to credit and property approval. Rates, program terms, and conditions are subject to change without notice. Not all products are available in every state, and loan limits differ between states. Additional conditions, qualifications, and restrictions may apply. This is not an offer for extension of credit or commitment to lend.

What to Do Next

If you're a physician, dentist, pharmacist, CRNA, veterinarian, or eligible medical resident in Sacramento, Placer, El Dorado, or Yolo County — and you're thinking about buying within the next year — the Doctor Loan deserves a serious look.

A pre-approval takes 24 to 48 hours and is free. We'll review your contract, run the numbers, compare the Doctor Loan against any other program you might qualify for, and give you a real plan, not a sales pitch.

Chris Kennedy NMLS #971546 | DRE #01326779 The Chris Kennedy Team 2100 Northrop Avenue, Suite 900, Sacramento, CA 95825 (916) 794-0777 www.thechriskennedyteam.com

Serving physicians, dentists, pharmacists, CRNAs, veterinarians, and medical residents across Sacramento, Placer, El Dorado, and Yolo Counties.