Physician Loans in Maine and Florida: How Doctors Buy With No PMI

I'm Travis Penny, a mortgage broker with Vision Mortgage, and I do physician loans for doctors buying a primary home in Maine or Florida.

A physician loan in Maine or Florida can help an eligible doctor buy a primary home without mortgage insurance. I review student loan documentation, employment contracts, and the full purchase file before comparing this program with a conventional mortgage.

How do physician loans work in Maine and Florida?

This program is for an eligible primary residence purchase or a refinance without cash out. Mortgage insurance may not be required under the physician program. I check the current guidelines and the property before discussing your options.

For clients moving to a new position, a signed employment contract may be accepted, depending on the contract, start date, and program. Student loans in deferment or forbearance may receive different treatment from conventional financing. Neither feature promises an approval on its own.

Why does the mortgage insurance comparison matter?

On some conventional loans, mortgage insurance becomes part of the monthly housing cost. A physician program without that requirement is worth reviewing, but the absence of mortgage insurance does not make it the best option for every client. I compare the full loan terms and closing costs with you.

Your down payment, credit, debts, and property all affect the available options. General education, not a loan offer or commitment to lend.

Does the healthcare professional tier work the same way?

No. Registered nurses, nurse practitioners, physician assistants, clinical nurse specialists, and chiropractors may have a separate healthcare professional tier. Its guidelines are not automatically the same as the physician program. I review each client's role and documentation before recommending a path.

Buying in Maine or Florida

I work with primary home clients in Maine and Florida. If you are moving for work, we can review the timing of your contract, current home, and intended primary residence. The physician program discussed here does not finance one time close construction; that is a separate program with its own eligibility review.

Read my physician loans in Maine and Florida guide for the full program overview, or see the Licensing page for my licensing information. Call (207) 615-7770 or email Travis@travis.mortgage to discuss your own file.