How to Compare Physician Loan Programs in Arizona

Mike Certo · Cornerstone First Mortgage · NMLS #260555 · Updated July 20, 2026

Physician-loan programs differ far more than their marketing suggests — on who's eligible, how much 100% financing you can actually get, and how student loans count. Here's the framework we use to compare any program, and where ours stands on each test.

Program figures verified July 2026 — details change; confirm your scenario with us.

The eight criteria that actually decide it

1. Eligible degrees. Get the program's written list. Ours: MD, DO, DDS, DMD, PharmD, DVM/VMD, DPM, CRNA (DNAP/DNP), plus residents, fellows, and interns holding those degrees. Optometrists, PAs, NPs, and chiropractors aren't on it — we say so up front and review alternatives case by case.
2. 100% financing ceiling and FICO tiers. Ours: 100% LTV to $2M at 720+ FICO, $1.5M at 680+; a 5% down option to $2M at 680+.
3. Mortgage insurance. No PMI or MI at any LTV on our program — the core structural saving versus a low-down conventional loan.
4. Student-loan treatment. Actual IBR/PAYE payment counts on our program. Ask any program you're comparing to put their deferred-loan and IDR treatment in writing.
5. Contract-based income. Residents and fellows can qualify on a signed attending employment contract with our program. If a program requires paystubs first, your closing date moves.
6. DTI ceilings. Ours: 50% at LTV ≤95%, 45% above 95% (and for ARMs/15-year terms).
7. Occupancy and property. Primary residence, 1-unit — typical for the category; confirm before falling for a condo-tel or multi-unit plan.
8. Underwriting style. Ours is manually underwritten by design — physician files (contract income, IDR student loans, relocation timing) are exactly what automated systems handle badly.

Questions to ask any physician-loan lender (including us)

• Is my exact degree on your written eligible list — and can you show me?
• What's your true 100% LTV ceiling at my credit score?
• How do you count my student loans — actual payment, a percentage of balance, or fully deferred?
• Will a signed contract with a future start date qualify me now, and how far out?
• What's the total monthly cost with no PMI versus a conventional loan with PMI at my down payment?

We're glad to run that last comparison on your numbers both ways — including scenarios where a 20%-down conventional beats a physician loan. That happens, and we'll tell you when it does.

Frequently asked questions

Are physician loan programs really comparable?

On structure, yes — degree lists, LTV tiers, student-loan math, and underwriting style are documentable and comparable. Pricing changes daily and varies by file, so compare structure first and price your short list the same day.

Can I shop multiple physician loan lenders at once?

Yes — credit-scoring models treat mortgage inquiries within a short window as one event. Get each program's structural terms in writing, then compare full Loan Estimates on the same day.

What's the fastest way to disqualify a program?

The degree list. If your credential isn't on it, nothing else about the program matters. Second fastest: student-loan treatment — a 1%-of-balance rule on $300K of student debt adds $3,000/month of phantom DTI.

What does Mike actually do in this process?

Runs your scenario against the program's written guidelines before you apply, confirms degree eligibility in writing, structures contract-income files so they close on schedule, and shows the physician-loan-vs-conventional math both ways.