Medical Professional Loans in Michigan: Up to 100% Financing, No PMI

By Mike Hajjar, Mortgage Advisor | Branch Leader, CMPS, NMLS #382906 | NEO Home Loans powered by Better, NMLS #330511 | Farmington Hills, MI | Updated November 9, 2026

Quick answer

If you are a licensed medical professional in Michigan, you may qualify for a mortgage program built around medical careers, not a one-size-fits-all bank box. Subject to approval, Mike’s medical-professional program supports up to 100% financing (including $0 down options), no private mortgage insurance (PMI), no reserves required up to $1M, gift funds allowed, credit scores as low as 680 (better pricing at higher tiers), DTI up to 50%, and flexible guidelines. Property paths include primary homes with 100% financing up to $2M, investment properties with 100% financing, and second homes up to $2M. Mike is based in Farmington Hills, Michigan, and is licensed to lend in all 50 states through NEO Home Loans, including moves for training or a new job. Signed employment contracts are accepted in place of traditional pay stubs for graduating students or new positions. You can close on your home up to 90 days before your employment start date using a signed employment contract as proof of income.

Eligible professions include: Physicians, Dentists, Chiropractors, Optometrists, Podiatrists, Pharmacists, Physical Therapists, Veterinarians, CRNAs, Nurse Practitioners, and Physician Assistants.

Physicians looking for a doctor-focused landing page can start at Physician Loans in Michigan and come back here for the full roster.

Key takeaways

• Eleven eligible professions, not “physicians only.”
• Up to 100% financing/ $0 down options may be available, subject to approval.
• No PMI, no private mortgage insurance on this program.
• No reserves required up to $1M; gift funds allowed (including for closing costs).
• 100% financing up to $2M on primary homes · Investment 100% financing · Second home up to $2M.
• licensed to lend in all 50 states through NEO Home Loans (Michigan remains the primary focus on this page).
• Signed employment contracts accepted in place of traditional pay stubs for graduating students or new positions.
• Close up to 90 days before your start date using a signed employment contract as proof of income.
• Credit scores as low as 680 may qualify; better terms typically at higher score tiers.
• Maximum DTI up to 50%, subject to the full file.
• W-2 and 1099 independent-contractor medical professionals can be eligible.
• Deferred student loans may be excluded from DTI or counted with a modified payment, depending on the program and repayment plan.
• Open to first-time and repeat buyers; second homes allowed within program limits.
• Residents and fellows are eligible (with contract-based income when applicable).
• Same first-call promise: plan first, no hard pull.

Where are you in your career?

Medical-professional financing is often used at three different moments. The program highlights are the same across stages, up to 100% financing, $0 down options, no PMI, no reserves required up to $1M, gift funds allowed, primary homes with 100% financing up to $2M, investment properties with 100% financing, and second homes up to $2M, subject to approval. Residents and fellows are included. W-2 and 1099 earners can both fit. What changes is how income and timing are documented.

Graduating students and new grads (contract closing)

If you are finishing training or starting a new role, signed employment contracts are accepted in place of traditional pay stubs for graduating students or new positions. You can close on your home up to 90 days before your employment start date using a signed employment contract as proof of income. That helps when you are relocating within Michigan or to another state (Mike is licensed to lend in all 50 states through NEO Home Loans). Bring the signed contract, license status (or expected credential), and your target price/occupancy to the first call. Let’s build the gameplan first. No pressure. No credit pull.

Residents and fellows

Residency and fellowship years are exactly when a large down payment is hardest to save. Residents and fellows are eligible. Signed employment contracts are accepted in place of traditional pay stubs, and you can close on your home up to 90 days before your employment start date using a signed employment contract as proof of income. Deferred student loans may be excluded from DTI or counted with a modified payment, depending on the program and repayment plan. Program highlights include no PMI, up to 100% financing, gift funds allowed (including for closing costs), and no reserves required up to $1M, subject to approval.

Practicing and attending professionals

Changing jobs or relocating? Signed employment contracts are accepted in place of traditional pay stubs for new positions. You can close on your home up to 90 days before your employment start date using a signed employment contract as proof of income. That helps when you are moving for an attending role, in Michigan or another state.

If you are already practicing, physician, dentist, veterinarian, or another eligible profession, this is the path most people mean by a “doctor loan” or medical-professional mortgage: preserve cash, skip PMI on this program, and size the file to a primary, second, or investment property within program limits. Dual-professional households (for example, MD + PA) are common; physicians can also use the doctor-focused Physician Loans page; everyone on the eleven eligible professions belongs here.

Not sure which stage fits? Say where you are in training or practice on the first call and we’ll map documentation before anything is locked.

Why medical professionals use a different path

Training is long, student debt is common, and savings for a classic down payment often come later than for other high earners. Flexible medical-professional guidelines exist so underwriting can recognize that path. They are still full mortgages with credit, property, and ability-to-repay review, not a shortcut around documentation.

Does this sound familiar?

If another lender already pushed back, these lines are common:

• “You’ll need a larger down payment.”
• “Your student loans are too high.”
• “You haven’t been on the job long enough.”
• “Come back after you’ve started working.”

This program exists for those exact friction points, up to 100% financing, no PMI, contract-based income with a 90-day pre-start close, and more flexible student-loan treatment when loans are deferred, always subject to full underwriting. Bring the denial notes or questions to Mike and we’ll map the real options.

Program snapshot

Feature	Current program highlight (subject to approval)
Financing	Up to 100% financing; $0 down options may be available
PMI	No PMI (no private mortgage insurance)
Reserves	No reserves required up to $1M
Gift funds	Allowed, including for closing costs
States / relocation	licensed to lend in all 50 states through NEO Home Loans (Michigan-focused page; nationwide help for moves)
Employment contracts	Signed employment contracts accepted in place of traditional pay stubs for graduating students or new positions
Close before start	Up to 90 days before employment start date using a signed contract as proof of income
Credit score	As low as 680; better terms typically at higher tiers
Max DTI	Up to 50%, subject to the full file
Income types	W-2 and 1099 independent-contractor medical professionals
Student loans	Deferred loans may be excluded from DTI or counted with a modified payment, depending on program/repayment plan
Buyers	First-time and repeat buyers; second homes allowed within limits
Residents / fellows	Eligible (contract income / 90-day pre-start when applicable)
Guidelines	Flexible guidelines designed for medical professionals
Primary home	100% financing up to $2M
Investment property	100% financing
Second home	Up to $2M

Program highlights: no PMI; licensed to lend in all 50 states through NEO Home Loans; contracts in place of pay stubs; close up to 90 days before start; credit as low as 680; DTI up to 50%; W-2 and 1099; deferred student-loan DTI flexibility; gifts for closing costs; first-time and repeat buyers; second homes; residents & fellows; primary 100% financing up to $2M; investment 100% financing; second home up to $2M; no reserves required up to $1M.

Eligible professions

Residents and fellows

Residents and fellows are eligible. Use a signed employment/training contract as income documentation when pay stubs are not yet available, and you can close up to 90 days before your start date.

Physicians (MD / DO)

Doctors are a core audience for this program. For physician-specific information and FAQs, use Physician Loans in Michigan .

Dentists

DDS/DMD buyers often carry training debt and want to preserve cash for practice or relocation. Same program limits apply, subject to approval. Your loan advisor can outline any profession-specific documentation.

Chiropractors

Licensed chiropractors are included among this program’s eligible professions for the same up-to-100% / gift / reserve framework. Your loan advisor will provide the license and document checklist.

Optometrists and podiatrists

OD and DPM professionals are included. Useful when a standard 20% down payment would drain startup or relocation funds. Your loan advisor will outline any documentation specific to your license.

Pharmacists

Pharmacists (including those relocating for a new health-system role) are eligible under this program. Both W-2 and 1099 pharmacist income can be considered.

Physical therapists

PTs are listed. Helpful for first purchases after completing training when cash is tight but income is stable. Your loan advisor will provide a document checklist based on your license and file.

Veterinarians

DVMs are eligible. Practice-ownership income may also need the Self-Employed Mortgage conversation if tax returns understate cash flow, your loan advisor will help choose the better path.

CRNAs, nurse practitioners, and physician assistants

Advanced practice roles, CRNA, NP, and PA, are included alongside physicians under this program. Dual-professional households (for example, MD + PA) can often be structured on this path. Your loan advisor will outline documentation for your certification and experience.

Who typically fits

• Michigan medical professionals on the list above buying a primary, second, or investment property within program limits
• Buyers who want to use gift funds or avoid tying up cash when no reserves are required up to $1M
• Households comparing this program with conventional financing before they choose

Documents for the first conversation

• Profession / license type
• Price range and occupancy
• Gift-fund plans, if any
• Income proof you already have (contract, offer letter, or pay stubs)

Your loan advisor will provide a document checklist for pre-approval and underwriting based on your profession and goals.

Related reading and other paths

• Blog: 100% Financing for Medical Professionals: Who Actually Qualifies?
• Doctor-focused page: Physician Loans
• Buy Before You Sell
• Self-Employed Mortgage Options (practice owners)
• HELOC · Bank Statement HELOC

About Mike Hajjar

Mike Hajjar is a Mortgage Advisor and Branch Leader with NEO Home Loans powered by Better (NMLS #330511), NMLS #382906, and a Certified Mortgage Planning Specialist (CMPS). He has been in the mortgage industry since 2005 and works from Farmington Hills, serving Oakland County and Metro Detroit. He helps medical professionals compare this program with other options before they lock a path. Meet Mike · Reviews

Frequently Asked Questions

NEO Home Loans powered by Better, NMLS #330511. Not a commitment to lend. Programs, rates, and terms are subject to change and credit approval. Equal Housing Lender. “Up to 100% financing,” property limits, reserve, and gift-fund features are subject to lender guidelines and full underwriting.