Who Qualifies for a Physician Loan in Arizona

By Mike Certo, Cornerstone First Mortgage · NMLS #260555 · Updated May 24, 2026

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The 60-second answer

The Redwood Sequoia Medical Professionals Program — Mike's primary physician loan product through Cornerstone First Mortgage — accepts borrowers holding 11 specific professional degrees in active practice, plus residents/fellows/interns with any of those degrees. You must be a U.S. Citizen or Permanent Resident with a valid Social Security Number.

The full eligible list:

1. Medical Doctor (MD)
2. Doctor of Osteopathy (DO)
3. Doctor of Dental Science / Doctor of Dental Surgery (DDS)
4. Doctor of Dental Medicine (DMD)
5. Doctor of Ophthalmology (MD or DO)
6. Doctor of Psychiatry (MD or DO)
7. Doctor of Pharmacy (PharmD)
8. Doctor of Veterinary Medicine (DVM or VMD)
9. Doctor of Podiatric Medicine (DPM)
10. Certified Registered Nurse Anesthetist (CRNA with DNAP or DNP)
11. Medical residents, fellows, or interns with any of the above degrees

This page walks through each, with notes on AZ-specific considerations for that designation.

Medical Doctors (MD)

The most common physician loan borrower. MDs in any specialty — primary care, surgery, emergency medicine, anesthesiology, radiology, pathology, every sub-specialty — qualify.

Common AZ MD borrower profile: - Employed at Mayo Clinic Phoenix, Mayo Scottsdale, Banner Health network (Banner-University Medical Center Phoenix, Banner Estrella, Banner Gateway), HonorHealth, Dignity Health (St. Joseph's, Chandler Regional), Phoenix Children's, Valleywise Health, or Banner-University Medical Center Tucson - New attendings starting Mayo or Banner contracts - Mid-career MDs upgrading to larger Scottsdale or Paradise Valley homes - Specialty MDs (e.g., orthopedic surgeons, anesthesiologists) often qualify at the higher loan limits

Doctors of Osteopathy (DO)

Functionally identical to MDs for physician loan purposes. DO graduates from AT Still University (in Mesa, AZ — one of the largest DO schools in the country), Midwestern University Glendale, and other osteopathic programs all qualify.

AT Still University is particularly relevant for Arizona — it's both an osteopathic medical school and a dental school. DOs and DMDs trained at ATSU often stay in AZ for residency and practice, creating a meaningful pipeline of new attendings each year.

Doctors of Dental Science / Dental Surgery (DDS)

Dentists practicing in Arizona — general dentistry, periodontics, orthodontics, endodontics, oral surgery, prosthodontics, pediatric dentistry. DDS qualifies the same as MD/DO under the Redwood Sequoia program.

Common AZ dentist scenarios: - New dentists buying first home + considering practice acquisition simultaneously - Established dentists upgrading home as practice grows - Dental specialists (orthodontists, oral surgeons) often hitting the higher loan-amount tiers ($1.5M-$2M)

Doctors of Dental Medicine (DMD)

DMD is the degree designation used by many dental schools (Harvard, UPenn, Boston University, others). Functionally identical to DDS — different schools use different naming conventions, but the practice license is the same. ATSU's dental school grants the DMD degree.

DMD borrowers qualify on equal footing with DDS borrowers under the Redwood Sequoia program.

Doctors of Ophthalmology, Psychiatry (MD or DO)

The program explicitly lists ophthalmologists and psychiatrists as eligible — note they hold MD or DO degrees with specialty board certification in those fields. They qualify under their MD/DO designation, with the specialty noted as part of the qualification confirmation.

Both fields tend to have higher attending salaries and steadier income streams than some other specialties, which usually accelerates loan approval.

Doctors of Pharmacy (PharmD)

Pharmacists holding the PharmD degree qualify. This includes:

• Retail pharmacists at CVS, Walgreens, Fry's, Walmart, Bashas', Safeway
• Hospital pharmacists at Mayo, Banner, HonorHealth, Dignity systems
• Compounding pharmacists at independent pharmacies
• Clinical pharmacists in specialty practice
• Pharmaceutical industry pharmacists

PharmD income tends to be lower than MD/DO/DDS but stable and well-documented through W-2 employment. The physician loan product still applies — the no-PMI / 100% LTV math works as well for a PharmD buyer as for a surgeon.

Doctors of Veterinary Medicine (DVM or VMD)

Veterinarians practicing in AZ qualify. Both designations (DVM is more common; VMD is University of Pennsylvania's specific naming) are accepted.

This is an underserved segment — most physician loan content from national lenders doesn't even mention veterinarians, but the Redwood Sequoia program explicitly includes them. AZ has a growing veterinary corridor (Banfield, BluePearl, VCA hospitals in Phoenix metro + Tucson + Flagstaff specialty practices).

DVM income tends to be lower than human-medicine specialties, so the physician loan math (no down payment, no PMI, higher DTI tolerance) is particularly valuable for vet borrowers who want to buy without waiting years to save 20% down.

Doctors of Podiatric Medicine (DPM)

Podiatrists qualify. AZ has a sizable podiatric medicine community given the state's older retiree population (foot care demand correlates with age). Midwestern University Glendale has a podiatric medicine school that graduates DPMs annually.

Certified Registered Nurse Anesthetists (CRNA)

CRNAs are the only non-doctor designation on the eligibility list — they must hold either the DNAP (Doctor of Nurse Anesthesia Practice) or DNP (Doctor of Nursing Practice) doctoral credential. Standard RN, BSN, or MSN credentials don't qualify — the doctoral-level DNAP/DNP is the requirement.

CRNAs are among the highest-paid advanced practice providers in the US. AZ has strong CRNA demand across surgical centers, hospital systems, and outpatient anesthesia services.

Medical Residents, Fellows, and Interns

This is the differentiated feature that makes physician loans uniquely valuable: residents, fellows, and interns who hold one of the above degrees can qualify based on their signed employment contract for the attending position they'll start in the future, not their current resident salary.

The contract typically must: - Be a fully executed (signed by both parties) attending physician employment contract - Show the starting position, employer, and compensation structure - Have a within 150 days of start (varies by program) (typically — varies by program) - Be for an attending role (not another residency or fellowship)

This is the only major mortgage product that allows future-attending-income qualifying. It's why residents/fellows can buy homes at attending-level price points before they've drawn a single attending paycheck.

Full residents/fellows page →

Who is NOT eligible

The Redwood Sequoia Medical Professionals Program explicitly excludes:

• Chiropractors (DC) — not currently included in the program (other Cornerstone non-QM products may apply; call to discuss)
• DACA holders — ITIN not accepted; SSN required
• ITIN-only borrowers — physician loan requires valid SSN
• Foreign Nationals — must be US Citizen or Permanent Resident
• Borrowers with diplomatic status
• Borrowers holding ownership in any federally-illegal business (cannabis-adjacent income can be complicated — call to discuss)
• Life Estates, Non-Revocable Trusts, Guardianships, LLCs, Corporations, Partnerships As borrowers
• Land Trusts (except Illinois Land Trust)

Co-borrower scenarios

You can have:

• Two eligible-professional borrowers (both MDs, MD + DDS, DO + PharmD, etc.) — both incomes count fully
• One eligible professional + a non-professional spouse — spouse's income counts as standard co-borrower income; physician loan terms still apply
• One eligible professional + a non-occupant co-borrower (parent, business partner, etc.) — non-occupant contributing income capped at 50% of total qualifying income

For dual-physician households, the physician loan can stack to support significantly larger purchases than either spouse alone.

What if I'm in a specialty not specifically listed?

The Redwood Sequoia eligibility list is specific. If you hold a degree not on the list (e.g., Doctor of Audiology, Doctor of Physical Therapy, Doctor of Chiropractic, etc.), the Redwood Sequoia Medical Professionals Program likely won't apply.

But other physician/professional loan programs exist with different eligibility lists. SoFi, KeyBank, Wintrust, BMO Harris, Truist, and some credit unions each have their own definitions of "professional" and may include some designations the Redwood program excludes.

If your specialty isn't on the list above, call Mike. He'll check which programs you fit and walk through the options.

Documentation you'll need

For pre-approval: - Degree documentation (diploma, residency completion certificate, board certification — varies by professional designation) - Current employment verification (recent pay stubs, employment letter, OR signed attending employment contract for residents/fellows) - 2 years of W-2s (or equivalent for self-employed) - 2 years of tax returns (federal Form 1040) - Last 2 months of bank statements (asset verification) - State professional license (current and unrestricted) - Student loan documentation (current balance + repayment plan: IBR, PAYE, REPAYE, Standard, etc.) - Standard mortgage application docs (ID, employment history, address history)

For residents/fellows specifically: - Signed attending employment contract (the critical document) - Residency program confirmation letter (showing current training status)

Frequently asked questions

My residency program is at a Mayo / Banner / HonorHealth facility but my attending contract is somewhere else in AZ. Does that matter?

No, what matters for qualifying is the signed attending employment contract — where you'll work as an attending, not where you're currently training. The lender uses the contract income for qualifying. {#faq-different-system}

I'm a Nurse Practitioner (NP) — can I use a physician loan?

The Redwood Sequoia program specifically lists CRNAs with DNAP or DNP. Other NP specialties (FNP, PNP, AGNP) aren't currently on the list. Other lenders may have broader nurse practitioner eligibility — call to check. {#faq-np}

I'm a chiropractor. Why am I excluded?

The Redwood Sequoia program's eligibility list doesn't currently include DCs (Doctor of Chiropractic). Other non-QM or specialty programs may be a better fit — Cornerstone has access to multiple lenders. Worth a 15-minute call to walk through options. {#faq-chiropractor}

I'm a physician but I'm not US-employed yet (international medical graduate awaiting visa status or residency match). Do I qualify?

The Redwood Sequoia program requires US Citizens or Permanent Resident Aliens with at least 24 months of US employment history. Non-Permanent Resident Aliens qualify with a current unexpired visa and 24-month US employment history, but at 95% LTV cap (not 100%). International medical graduates pre-residency wouldn't typically meet the employment-history requirement. {#faq-img}

Can my spouse qualify under my eligibility, or do they need to be a professional too?

You (the eligible professional) need to be on the loan. Your spouse can be on the loan as a co-borrower — they don't need to be a professional. The loan still uses physician loan terms because you qualify under the program. {#faq-spouse-qualification}

What's the difference between a physician loan and a jumbo loan?

A jumbo loan is any mortgage above the conforming loan limit ($832,750 in Arizona for 2026). A physician loan is a specialty product for eligible medical professionals — it can be jumbo-sized but operates under different underwriting rules (100% LTV, no PMI, IBR student loan treatment, future-attending-income qualifying). For a doctor, the physician loan is almost always the better choice. {#faq-physician-vs-jumbo}

Talk to Mike about your specific eligibility

The eligibility list above is the formal rule. The practical question — does YOUR specific situation work — is best answered in a 15-minute call. No commitment. Mike will tell you straight whether the Redwood Sequoia program fits, or whether a different program (Newfi for self-employed, conventional, or other physician programs) is the right move.

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(480) 296-6513 · Mike Certo, NMLS #260555 · Cornerstone First Mortgage NMLS #173855

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Sources

• Redwood Residential Acquisition Corporation — Sequoia Medical Professionals Program Eligibility Guide v1.1 (effective March 2, 2026)
• Cornerstone First Mortgage NMLS #173855

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Mike Certo NMLS #260555 · Cornerstone First Mortgage NMLS #173855 · Equal Housing Lender. Educational content; not a loan commitment. Program eligibility per Redwood Sequoia guide; subject to change. Loans subject to buyer and property qualification.