Complete Guide to Physician Mortgage Loans in Arizona
Understanding Physician Mortgage Loans
The path to becoming a physician is marked by years of intensive education, substantial student debt, and a delayed timeline to earning full income. For medical professionals in Arizona, this unique financial journey often creates barriers to homeownership that traditional mortgage products simply aren't designed to address.
Program Details and Loan Structure
Documentation and Reserve Requirements
Standard Documentation: All loans require a full appraisal and full title work.
Reserve Requirements:
For loans ≤ $1,000,000: 3 months of reserves
For loans > $1,000,000: 5% of loan amount in reserves
Eligibility Requirements
Eligible Medical Professionals
Residents - Actively in graduate medical training
Fellows - Post-residency training programs
Newly established physicians
Established physicians
Employment Requirements by Career Stage
For Residents, Fellows, and New Physicians
Currently in residency, OR
Set to begin within 90 days of closing, OR
Have a non-revocable employment contract with start date ≤90 days from closing
Diploma and transcripts required
For Established Physicians
Licensed and employed (not resident/fellow) for at least 12 months by hospital or physician group, OR
Self-employed for at least 2 full years with tax returns documenting income
Copy of medical license and contract required if job is new
Important: All income must be expected to continue for at least 3 years.
Why Physician Loans Work Well in Arizona
Arizona continues to attract physicians to metro areas like Phoenix, Scottsdale, Tucson, and Flagstaff, where housing prices are rising. With physician loan programs, doctors can buy sooner—before student loan payments or down payment savings slow them down