9 Best Physician Mortgage Loans in Pennsylvania with No Money Down

Pennsylvania is dripping with American history and culture, making it a diverse and exciting place to both live and work. It also has one of the highest employment levels for physicians.

The average Pennsylvania physician makes just north of $228,000. But most doctors and dentists also carry around high six-figure student loan debt that can often hold them back from pursuing other dreams, like owning a home.

Recent data from the Pennsylvania Association of Realtors shows the median home sales price in April 2024 was $280,000. However, depending on what county you choose to settle into, home prices can push closer to half a million or more.

If you’re a physician interested in buying a home in this historic state, a Pennsylvania physician mortgage loan can help you access financing with no down payment and no private mortgage insurance (PMI) requirement.

Pennsylvania Doctor Mortgage Lenders	0% Down Loan Limit	Who Can Qualify	Unique Features
Citizens	Min 5% down	MD, DO, DDS, DMD	No 0 down options
First Citizens Bank	$1 million	Most graduate degrees	Offer 80/20 product
First National Bank	$1.25 million	MD, DO, DDS, DMD, DVM	Eastern US focus
Fulton Mortgage Company	$1.5 million	MD, DO, DDS, DPM, DVM, PharmD	Must be US Citizen or have valid Green Card
Huntington Bank	$1 million	MD, DO, DDS, DMD, DVM	Minimum 700 credit score
Northwest Bank	$950,000	MD, DO, DDS, DMD, DPM	Northwest US focus
S&T Bank	Min 5% down	MD, DO, DDS, DMD, DVM, OD, JD	No Loan Limit
TD Bank	$1 million	MD, DO, DDS, DMD, DPM, OMS	Requires a DTI of 43%
Truist	$1 million	MD, DO, DDS, DMD, DPM	Within the past 15 years of training

9 Pennsylvania physician mortgage lenders to consider

Here’s a roundup of the top doctor loans in Pennsylvania for physicians looking to buy a home.

Read on to learn about physician mortgage loans in Pennsylvania.

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1. Citizens

The Citizens Doctor Loan mortgage program provides up to 95% financing for purchases and limited cash-out refinances of primary residences.

Financing options include:

• 5% down for up to $850,000
• 11% down for up to $1 million
• 15% down for up to $1.5 million

This program is specifically designed for licensed Doctors of Medicine (MD), Doctors of Osteopathic Medicine (DO), Doctors of Dental Surgery (DDS) and Doctors of Dental Medicine (DMD). To qualify, you must have completed your residency within the last ten years or be a current medical resident, fellow or intern.

2. First Citizens Bank

The First Citizens Bank physician mortgage loan program provides up to 100% financing for purchasing a new home, building a primary residence or refinancing your existing house.

Mortgage options include:

• 100% mortgage with a 15-, 20- or 30-year term and one monthly payment
• 80/20 mortgage with two monthly payments (80% will be a first mortgage with a 15-, 20- or 30-year term and 20% will be a home equity loan)

This program is designed for medical professionals with the following designations: MD, DM, DO, DPO, DDS, DMD, PA, CRNA, CRNP, and DPT.

3. First National Bank

The physician mortgage program from First National Bank provides up to 100% financing for existing home and new construction purchases, as well as refinancing a current home.

Eligible borrowers include physicians who hold an MD, DO, DDS, DMD, or DVM.

Financing options include:

• 0% down for up to $1.25 million
• 5% down for up to $1.5 million
• 10% down for up to $2 million

This doctor loan program is also available for second homes and vacation homes, but it excludes investment properties.

Contact: Josh Feldman

4. Fulton Mortgage Company

Fulton Mortgage Company’s physician mortgage loan program provides up to $3 million in financing for physicians (including residents, fellows and interns), podiatrists, dentists, pharmacists and veterinarians.

Financing options include:

• 0% down for up to $1.5 million
• 5% down for up to $2 million
• 10% down for up to $3 million

Eligible borrowers can close on their new home up to 90 days before starting a new position with an acceptable employment contract.

5. Huntington National Bank

Huntington Bank’s physician mortgage loan is designed for medical doctors, dentists and veterinarians with an MD, DO, DDS, DMD or DVM degree. Podiatrists and ophthalmologists are also eligible.

Financing options for borrowers with a minimum credit score of 700 include:

• 0% down for up to $1 million
• 5% down for up to $1.25 million
• 10% down for up to $2 million

For borrowers with a credit score ranging from 680 to 699, financing options include:

• 5% down for up to $500,000
• 10% down for up to $1 million
• 25% down for up to $2 million

Note there's a 50% maximum DTI requirement. However, Huntington Bank will use your actual student loan monthly payment or 1% of your outstanding balance as an estimated payment for your DTI ratio. If you're in residency or fellowship, a separate calculation is used.

6. Northwest Bank

Northwest Bank’s “Physician’s Loan Program” is available to eligible applicants with an MD, DO, DDS, DMD or DPM. With down payment requirements as low as 0% and no required private mortgage insurance (PMI), this program is worth looking into.

Fixed rate and adjustable rate mortgages are available, as well as rate and term refinance options.

Financing options include:

• 0% down for up to $950,000
• 5% down for up to $1,250,000
• 10% down for up to $1,500,000

A mortgage prequalification can help determine how much you can borrow, based on estimates of key factors, such as income, current monthly debt, and credit history.

7. S&T Bank

S&T Bank is one of the most flexible mortgage options we've seen. You could qualify if you're a medical resident, medical fellow, attorney, or hold an MD, DDS, DMD, DO, DVM or Ph.D. in a non-medical science. H-1B visas and/or green card holders can be served. 

Financing options include:

• Up to 95% financing
• 5% down with no max loan amount
• 10, 15, 20 and 30 year repayment terms
• Cash out refinancing with 80% LTV (loan-to-value) with no cash out limit

8. TD Bank

TD Bank's medical professional mortgage loan program is open to doctors, dentists, oral surgeons, residents and fellows.

To qualify for this program, you will need to have a FICO score of at least 740.

Financing options include:

• 0% down for up to $1 million
• 5% down for up to $1.5 million
• 10.01% down for up to $2 million

Contact: Neil Surgenor 

9. Truist

Truist's doctor mortgage loan provides up to $1.5 million in financing for practicing MD, DO, DPM, DDS and DMD physicians. Licensed residents, interns and fellows in MD, DO and DPM programs may be eligible for a maximum loan amount of $750,000.

Financing options for practicing physicians include:

• 0% down for up to $1 million
• 5% down for up to $1.5 million
• 10.01% down for up to $2 million

Note that physicians with 10 to 15 years of post-training experience are limited to 89.99% financing with a maximum loan amount of $1.5 million.

Contact: Matt Albert

Related: Try our Physician Mortgage Loan Calculator for monthly payment estimates and more

How does a Pennsylvania physician mortgage loan work?

Physician loans are designed with a high-earning medical professional’s career path in mind.

Because most physicians and dentists must take on a large amount of student debt to pursue their chosen career, physician mortgages treat student loans more favorably than a conventional mortgage loan. This makes owning a home more attainable for many new physicians, residents, fellows and interns.

And that’s only the tip of the iceberg.

Unlike conventional home loans, a physician mortgage typically doesn’t require a down payment. If it does, it’s usually to access larger amounts of financing (e.g. $1 million).

Even though there’s no (or a low) down payment, doctor mortgages don’t require PMI. This means you can save hundreds of dollars each month that can then be dedicated to other goals, like making extra student loan payments or renovating your new home.

Is a Pennsylvania physician mortgage loan right for you?

A Pennsylvania physician mortgage can make owning your dream home a reality much sooner than expected. By providing no-money-down mortgage solutions without PMI, new and established physicians and dentists can benefit greatly from using this exclusive financial product.

Although there are huge benefits associated with a physician mortgage loan, there’s also the risk of getting approved for too much loan with this type of jumbo loan.

Because loan requirements are more relaxed than a conventional loan, it’s likely you’ll get approved for a lot more than you think. This can be detrimental if you can’t realistically afford the higher payments. It's important to focus on your budget and not get tempted by the huge number the bank comes back with.