California's competitive real estate market makes homeownership feel out of reach for many physicians—but physician mortgage loans are designed precisely for high earners with limited cash on hand. Whether you're a new attending at UCSF, Stanford, or Cedars-Sinai, or a seasoned physician in San Diego or Los Angeles, a 0% down doctor loan lets you buy without waiting years to save a conventional down payment.
Physician Mortgage Calculator — California Estimate
Pre-filled with California's $850,000 median home price. Adjust any field to see your numbers instantly.
0% available on physician loans
Physician Loan
0% down · no PMI
$5,513/mo
Principal & interest
Conventional
5% down · with PMI
$5,876/mo
P&I + PMI (years 1–11)
PMI You Save
over 11 years
$84,348
by avoiding PMI entirely
Physician Mortgage Lenders
All lenders below are publicly known to offer physician mortgage programs in California. Down payment minimums, loan limits, and features shown are for primary residence purchases. Always verify current terms directly with the lender.
| Lender | Min. Down Payment | Loan Limit | PMI | Notable Feature |
|---|---|---|---|---|
| BMO Bank | 0% | $2M | No PMI | Available to residents & fellows |
| Flagstar Bank | 0% | $1.5M | No PMI | Strong presence in Southern CA |
| KeyBank | 0% | $1M (5% above) | No PMI | Fast pre-approval process |
| Laurel Road | 0% | $1.5M | No PMI | Student debt excluded from DTI |
| UMB Bank | 5% | $2M | No PMI | Jumbo physician loans |
| Truist Bank | 0% | $1M | No PMI | Pre-employment contract accepted |
Why California
California has the highest median home prices in the continental United States, with statewide medians hovering around $850,000 and coastal metros like San Francisco and Los Angeles frequently topping $1.2–1.5 million. For a physician carrying $200,000–$400,000 in student loan debt, saving a traditional 20% down payment—upwards of $170,000—can delay homeownership by years. Physician mortgage loans sidestep this entirely.
The physician job market in California is robust. The state ranks among the top three nationally for active medical licenses, with demand concentrated in primary care, hospitalists, and specialists in oncology, cardiology, and neurology. Academic medical centers, a thriving Kaiser Permanente system, and hundreds of independent health systems all compete for physician talent—translating to strong compensation packages that make physician mortgage underwriting favorable.
A physician mortgage makes particular sense in California because of the outsized PMI burden on conventional loans. On a $900,000 home with 5% down, PMI can cost $800–$1,050 per month for up to 11 years—over $100,000 in non-recoverable insurance costs. By qualifying for a physician loan, California doctors eliminate that entirely while retaining capital to invest or fund a practice.
Common Questions
Several major lenders offer physician mortgage programs in California, including BMO Bank, Flagstar Bank, KeyBank, Laurel Road, Truist, and UMB Bank. Each program has different loan limits, down payment tiers, and eligibility criteria. Given California's high home prices, many lenders extend jumbo physician loan options up to $2 million or more.
Yes. Most physician mortgage programs are available statewide, including high-cost metros like Los Angeles, San Francisco, San Diego, and the Bay Area. Because many CA physician loans go well above the conforming loan limit, lenders structure them as portfolio jumbo loans—meaning they keep them on their own books rather than selling to Fannie Mae or Freddie Mac, which allows greater flexibility on down payment and DTI.
Most physician mortgage lenders in California accept applications from residents and fellows, not just attending physicians. You'll typically need a signed residency contract or offer letter, proof of your medical degree (MD or DO), and a valid California medical license or evidence you're in the credentialing process. Some lenders also accept matched contracts before licensure is finalized.
Physician mortgage loan limits in California typically range from $1 million at 0% down to $2–2.5 million at 5–10% down, depending on the lender. Given California's elevated home prices, many programs offer jumbo physician loan tiers specifically designed for high-cost markets. Use the calculator above to model your specific scenario with California's $850,000 median as a starting point.
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