What is a Doctor Loan?

Doctor, Dentist and Resident Home Loan Program in Columbia, SC

Every year 16,000 new doctors graduate from medical school and about the same number graduate from residency. Often these people have little money, have vast sums of future earnings potential but they will have a difficult time qualifying for a home loan. They usually haven’t even started their new job yet but are looking to buy a home in a new city. The same can often be said of established doctors as they are still paying off student loans and/or are investing in their practice with few options to secure a home mortgage.

If you are eligible, there is a solution: the Doctor Loan Program by Suntrust Mortgage.

Doctor Loan Program Columbia, SC

The Columbia New Home Buyer Service is here to help you with your home purchase. From securing the best financing to guiding your through the home buying process, we’re here for you. Our goal is for your home buying experience to be as stress free as possible. We also pride ourselves in saving our clients thousands of dollars and headaches.

You can buy a home with NO DOWN PAYMENT!!!

The Doctor Loan Program is a residential mortgage loan offered by SunTrust Bank in Columbia, SC that has been specifically created for licensed medical professionals to help make obtaining mortgage financing easier and more hassle-free.

Advantages of Doctor Loans:

  • Fixed or adjustable rate options
  • Up to 100% financing and no monthly mortgage insurance payments
  • Favorable repayment terms provide flexibility to meet your financial reality

For Licensed Residents/Interns/Fellows in MD and DO programs:

  • Maximum of 100 percent financing for purchases and rate/term refinances. There is a maximum home loan amount of $750,000.

For Practicing Doctors (MD, DO, DDS, DMD) who have completed their residency within the last ten years:

  • 100% financing for loans up to $750,000
  • 95% financing for loans up to $1 Million
  • 90% financing for loans up to $1.5 Million

Amazing Terms: Up to 100% financing and no PMI

Eligible Doctors:

  • Licensed Residents/Interns/Fellows in MD and DO programs
  • Medical Doctors (MD)
  • Doctors of Osteopathy (DO)
  • Doctors of Dental Medicine – Dental Surgeons, Orthodontists, General Dentists (DMD/DDS)
  • Psychiatrists licensed as a Medical Doctor

Financing Options

Loan Terms

  • 15 and 30 year Fixed Rate Mortgage
  • Adjustable rate mortgage programs in various terms


  • Purchase
  • Rate/Term Refinances
  • Cash Out Transactions

Occupancy/Property Types

  • Primary residence
  • One unit properties
  • Attached or detached properties (including Row Houses)
  • Leasehold properties
  • Condos and PUDs (Warrantable Condos only, additional 5% down payment/equity required for condos)

Call for details on programs if you are over 10 years removed from completing your residency.

There are many very favorable home loan programs for you too.

For more details or to get started, call us at the Columbia New Home Buyer Team/JPAR Magnolia Group at (803) 250-6750.

You can fill the form below as well.

Mortgage product offered by SunTrust Bank. Available only in AL, AR, DE, FL, GA, MD, MS, NC, SC, TN, VA, WV, DC and select counties in PA to licensed Residents, Interns, Fellows in MD and DO programs and licensed Physicians and Dentists (MD, DO, DDS, DMD) who have completed their residency within the last ten years. Doctors with over ten years post residency need to be members of SunTrust Private Wealth Management or belong to a practice that is part of Private Wealth Management to be eligible for this product. Ten year restriction does not apply when refinancing an existing SunTrust Doctor Loan.