Loan Details
$
Current market rate
Standard: 30 years
$
Dollar amount
% of home price
Typical range: 0.5%–2.5% by location
$
Dollar amount
% of home price
Typical range: 0.15%–0.50% by coverage
$
Used for DTI calculation
$
Used for DTI calculation
Mortgage Comparison Results
Physician Mortgage
$0
Total Monthly Payment
Conventional Mortgage
Years 1–11 (with PMI)
$0
Years 12–30 (without PMI)
$0
Total Monthly Payment
Physician ($)
Conventional ($)
Loan Structure
Home Price
0
0
Down Payment
0
(0%)
0
(5%)
Loan Amount
0
0
Monthly Payment Breakdown
Principal + Interest
0
0
Conventional P+I is lower due to smaller loan from 5% down.
Property Tax
0
0
Home Insurance
0
0
PMI
(0.95% annually, 5% down)
(0.95% annually, 5% down)
0
0
Actual PMI: 0.46%–1.5% annually depending on credit, down payment, and DTI.
Total Monthly
0
0
The physician mortgage saves overall by avoiding $752/month PMI and keeping $50,000 invested.
Private Mortgage Insurance (PMI) Breakdown
Physician — Monthly PMI
$0
✓ No PMI Required
Conventional — Monthly PMI
$0
Monthly Savings
$0
Annual Savings
$0
Total (11 Yrs)
$0
What is PMI? Private Mortgage Insurance protects the lender if you default. Conventional loans require it when down payment is below 20%. PMI typically costs 0.5–1% annually and drops after ~11 years once you reach 20% equity.
Why physician mortgages skip PMI: Physicians have a default rate of ~0.2% vs 1.2–4% general population. Lenders treat them as low-risk even at 0% down.
Why physician mortgages skip PMI: Physicians have a default rate of ~0.2% vs 1.2–4% general population. Lenders treat them as low-risk even at 0% down.
Debt-to-Income (DTI)
0%
✓ Excellent — within physician mortgage limits
Key Differences:
· Physician: 0% down, no PMI
· Conventional: PMI until 20% equity
· PMI removed after ~11 years
· Physicians are low-risk borrowers
· Physician: 0% down, no PMI
· Conventional: PMI until 20% equity
· PMI removed after ~11 years
· Physicians are low-risk borrowers
📊 Payment Difference Over Loan Term
Understanding how payments compare over 30 years
✅
Years 1–11
With PMI Period
Total Net Savings
$0
Why you save: The PMI savings ($0/month) exceeds the slightly higher P+I from the larger physician loan. Net: physician mortgage wins.
Physician loan: $0 · Conventional: $0 · Difference: $0
Physician loan: $0 · Conventional: $0 · Difference: $0
⚠️
Years 12–30
After PMI Drops Off
Total Additional Cost
$0
After year 11, conventional mortgage no longer pays PMI. Physician mortgage has a higher loan balance ($0/month PMI gone), so it costs more per month.
Net Payment Difference (30 Years)
$0
Physician mortgage costs more in payments over 30 years
💡 Why physician mortgage is still better: Despite costing more from years 12–30, you keep your down payment invested. Growth of $0–$0 over 30 years far exceeds the extra payment cost.
💰 Investment Opportunity Analysis
True value of keeping your down payment invested
Conservative Average
(7% Annual Return)
S&P 500 inflation-adjusted historical avg
Down Payment Invested:
$0
Future Value (After 30 Years):
$0
Net Growth Over 30 Years:
$0
Historical Average
(10% Annual Return)
S&P 500 avg return since 1928
Down Payment Invested:
$0
Future Value (After 30 Years):
$0
Net Growth Over 30 Years:
$0
Net Benefit of Physician Mortgage
With 7% Return
$0
With 10% Return
$0
Calculation: Net Benefit = Investment Growth + Net Payment Difference over 30 years.
*Calculator Disclaimer: Simulated numbers are for illustrative and educational purposes only based on market averages. This simulation does not constitute an official Loan Estimate (LE), a commitment to lend, or a binding offer of credit. Actual interest rates, payments, and features vary by institution and individual credit profiling. Past investment performance does not guarantee future results. Consult a licensed mortgage professional and financial advisor for personalized guidance.