Physician Loans in Michigan: Up to 100% Financing, No PMI
Quick answer
Think you need a large down payment to buy in Michigan because you’re a physician? Not always. Subject to credit approval and lender guidelines, the medical-professional program Mike works with offers 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 built for medical careers. Property paths include primary homes with 100% financing up to $2M, investment properties with 100% financing, and second homes up to $2M. Mike works with physicians across Michigan and is licensed to lend in all 50 states through NEO Home Loans, helping buyers, including doctors relocating for residency or a new attending 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.
Mike also works the same program family for many other licensed medical professionals, not only MDs and DOs. If you are a dentist, chiropractor, optometrist, podiatrist, pharmacist, physical therapist, veterinarian, CRNA, nurse practitioner, or physician assistant (or buying with one), go to Medical Professional Loans in Michigan .
Let’s build the gameplan first. No pressure. No credit pull.
Call or text (248) 882-8333
Office (248) 971-0966
mike.hajjar@neohomeloans.com
Call or text: (248) 882-8333 | Email: mike.hajjar@neohomeloans.com
Book a 15-Minute CallKey takeaways
- 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.
- Built for physicians and a wider medical-professional list, see the companion page.
- licensed to lend in all 50 states through NEO Home Loans.
- 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).
- First call is a plan, not a hard credit pull.
Where are you in your career?
Medical-professional financing is often used at three different moments. Program highlights are similar 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; see the full roster on Medical Professional Loans when both borrowers are medical professionals.
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 traditional mortgages often miss physicians
Medical careers rarely look like a long, flat W-2 history at one employer:
- Years of training before a full attending salary
- Student loan balances that standard DTI math can punish, here, deferred student loans may be excluded from DTI or calculated at a modified payment, depending on the program and repayment plan
- Less room to save a classic 10–20% down payment during training
- Income that is about to step up under a signed contract, projected contract income is accepted, and you can close up to 90 days before your start date
Specialized physician / medical-professional programs exist to underwrite that path with more flexible guidelines, without promising every file is approved.
Does this sound familiar?
If a bank already told you one of these, you’re not alone:
- “You 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 is built for those friction points, up to 100% financing, no PMI, contract income with a 90-day pre-start close, and more flexible treatment of deferred student loans, subject to underwriting. Bring those notes to Mike; we’ll compare this path with conventional options and tell you honestly which fits.
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 |
| Who’s eligible | Eligible professions (physicians, dentists, chiropractors, optometrists, podiatrists, pharmacists, PTs, veterinarians, CRNAs, NPs, PAs) plus MD/DO/DDS/DMD/DPM/DVM/CRNA/NP/PA designations and residents & fellows |
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.
Who this page is for
- Physicians (MD/DO) buying a primary home, second home, or investment property in Michigan (Oakland County, Metro Detroit, and statewide as licensing allows).
- Doctors who want to preserve cash for relocation, practice costs, or personal reserves when up to 100% financing is a fit.
- Dual-professional households, if your co-borrower is on the wider medical list, start on Medical Professional Loans as well.
Not every physician should use this product. Sometimes a conventional, FHA, or VA loan is the lower-cost path. Mike compares before you choose.
Eligible medical professionals (full list)
Physicians are the focus here, but the program is not “doctors only.” Eligible roles include:
Physicians (MD/DO) · Dentists (DDS/DMD) · Chiropractors · Optometrists · Podiatrists (DPM) · Pharmacists · Physical Therapists · Veterinarians (DVM) · CRNAs · Nurse Practitioners · Physician Assistants · Residents & fellows
Deep dive by role: Medical Professional Loans .
Documents for the first conversation
You do not need a complete underwriting file to talk. Helpful to have:
- Specialty and license status
- Target price and occupancy (primary, second, or investment)
- Whether gift funds may be part of the plan
- Whatever income proof you already have (contract, offer letter, or pay stubs)
Your loan advisor will provide a document checklist for pre-approval and underwriting once your goals and occupancy are clear.
Related reading and other paths
- Blog: 100% Financing for Medical Professionals: Who Actually Qualifies?
- Companion product page: Medical Professional Loans
- Buying before you sell: Buy Before You Sell
- Practice owner / side 1099 income: Self-Employed Mortgage Options
- Equity later without replacing a first mortgage: 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 physicians compare a medical-professional program with other options so the loan fits the career. Meet Mike · Reviews
Frequently Asked Questions
1. Can physicians in Michigan buy with little or no down payment?
Subject to approval, yes, the program may offer up to 100% financing and $0 down options within the property limits on this page. Final terms depend on your full file.
2. Do I need to be a first-time homebuyer?
No. Both first-time and repeat buyers can use this program, subject to approval. You can also use it for a second home within the stated limits.
3. Can I qualify before I start my new job?
Yes. Signed employment contracts are accepted in place of traditional pay stubs for graduating students or new positions, 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.
4. Can I close before I start my new job?
Yes. You can close on your home up to 90 days before your employment start date using a signed employment contract as proof of income.
5. How are student loans handled?
Deferred student loans may be excluded from your DTI or calculated using a modified payment, depending on the program and your repayment plan. That can improve qualifying power versus a conventional file that counts a full payment.
6. What credit score do I need?
Options can start with credit scores as low as 680. Better pricing and terms are typically available at higher score tiers. Exact fits depend on loan size, LTV, and the rest of the file.
7. Can I use gift funds for closing costs?
Yes. Gift funds are allowed, including for closing costs. The program also has no reserves required up to $1M. Lender documentation rules for the gift still apply.
8. Do I need cash reserves?
The program states no reserves required up to $1M, subject to approval.
9. What price points and property types are covered?
Primary homes with 100% financing up to $2M, investment properties with 100% financing, and second homes up to $2M, subject to approval and property eligibility.
10. Is this only for MDs and DOs?
No. See the full list on Medical Professional Loans.
11. Are residents and fellows eligible?
Yes. Residents and fellows are eligible. Signed employment contracts are accepted in place of traditional pay stubs, and you can close up to 90 days before your employment start date using that contract as proof of income.
12. Can graduating students or new grads use this program?
Yes. Signed employment contracts are accepted in place of traditional pay stubs for graduating students or new positions, and you can close up to 90 days before your employment start date. Other program highlights also include up to 100% financing, no PMI, no reserves required up to $1M, and gift funds for closing costs, subject to approval.
13. Is there PMI?
No. This medical-professional program has no private mortgage insurance (PMI), even when you finance at a high loan-to-value. That can save a meaningful monthly cost versus many conventional high-LTV loans. Other costs (interest rate, points, closing costs) still apply and should be compared on a Loan Estimate.
14. Can I get a physician loan if I'm moving to another state for residency or a new job?
Yes. Mike is based in Michigan and is licensed to lend in all 50 states through NEO Home Loans, including helping buyers relocating for residency, fellowship, or a new attending role. Start with a planning call; no hard credit pull for that conversation.
15. Who should I use for a physician loan in Michigan?
Choose a licensed loan officer (verify on NMLS Consumer Access) who regularly works medical-professional files, will compare this program with conventional options, explains financing, reserves, gifts, and occupancy limits in plain English, and gives you a written Loan Estimate. Mike Hajjar, NMLS #382906, works these files from Farmington Hills with NEO Home Loans powered by Better, NMLS #330511. Past results do not guarantee approval or terms.
16. Will you pull my credit on the first call?
No. Let’s build the gameplan first. No pressure. No credit pull for that planning conversation.
17. How do I get started?
Call or text (248) 882-8333 or email mike.hajjar@neohomeloans.com with your specialty, price range, and occupancy. We’ll map the medical-professional path against other options first.
18. Can I use gift funds?
Yes. Gift funds are allowed, including for closing costs. No reserves are required up to $1M on this program path, subject to approval and gift documentation rules.
Let’s build the gameplan first. No pressure. No credit pull.
Mike Hajjar, NMLS #382906
Call or text (248) 882-8333
Office (248) 971-0966
mike.hajjar@neohomeloans.com
31731 Northwestern Hwy, Suite 115E, Farmington Hills, MI 48334
Call or text: (248) 882-8333 | Email: mike.hajjar@neohomeloans.com
Book a 15-Minute Call Apply NowNEO 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.
