Physician Mortgage Loans in Florida: 0% Down, No PMI, and Student Loans Excluded

For a physician buying in Central Florida's $1M-plus luxury market, a physician mortgage loan is almost always the smarter financing choice. These programs are built for your financial profile: low or zero down payment, no PMI, student loans left out of your debt ratio, and the ability to close before your first day of work. Here is how they stack up and who offers them locally.

Physician loan vs conventional jumbo

Feature	Physician loan	Conventional jumbo
Down payment	0% to 5% on $1M+ homes	10% to 20% typically required
PMI	None, ever	Required under 20% down
Student loan treatment	Excluded from DTI	Counted fully against you
Pre-start-date closing	Yes, with employment contract	No
Loan limits	Up to $2.5M (some lenders)	Conforming limit ~$832,751

The student-loan treatment is often the deciding factor. Many physicians carry six figures of student debt that would sink a conventional debt-to-income calculation. Physician loans exclude it, which is what makes a $1M-plus purchase approvable early in a career.

The Central Florida buying-power advantage

In a market where $1M to $3M homes are the physician target zone, the down-payment difference is dramatic. A $1.5M purchase with a physician loan requires roughly $75,000 to $150,000 down, versus about $300,000 on a conventional jumbo. That is $150,000 or more retained, capital that can keep compounding instead of sitting in home equity. You can model your own numbers with our physician mortgage calculator.

Physician lenders active in Central Florida

Lender	Max loan	Down payment	Notes
First Horizon Bank	$2,500,000	Low / none	Best for jumbo luxury; not available to residents
Regions Bank	$1,000,000	0%	Available to residents, fellows, and attendings
Fifth Third Bank	$1,500,000+	5% to 10%	Competitive rates, flexible DTI
SouthState Bank	Varies	Low	Strong Central Florida presence
TD Bank	$1,000,000+	0%	Residents and fellows eligible; close 90 days pre-start
USF Credit Union	Up to mid-jumbo	0% to 5%	Local Florida option, ideal for first-time buyers

Terms change, so confirm current rates and eligibility directly with each lender. We are glad to make introductions to lenders we trust across these markets.

Pair financing with the tax math

A physician loan is most powerful alongside Florida's tax advantages. The down-payment capital you keep, plus the annual income-tax savings detailed in How Much Will Physicians Save Moving to Florida, often funds a move into a higher tier of home than the same physician could justify in a high-tax state. Browse where that buying power goes on our Lake Nona and Windermere physician pages.

Frequently asked questions

What is a physician mortgage loan? A specialized loan with low or zero down, no PMI, student loans excluded from DTI, and pre-start-date closing with an employment contract.

Can a physician buy a $1.5M home with little money down? Yes. Expect roughly $75,000 to $150,000 down versus about $300,000 conventional, keeping $150,000 or more invested.

Do physician loans charge PMI? No, never, even with low down payments.

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Sean & Barb are luxury real estate advisors with Premier Sotheby's International Realty, with over 60 years of combined experience across ten Central Florida markets. This article is educational and not financial advice; confirm loan terms with each lender.

See the complete physician relocation guide for the full buying roadmap.