Match Day and Moving
How Physician Loans Work When You Relocate for Residency
Updated: February 2026 • 4 Minute Read
- Physician home loans usually allow you to buy before you start employment, using your signed contract or offer letter.
- No/Low down payment options and no PMI are common.
- DoctorLoans.com specialists can assist nationwide, providing continuity even if you match in a different state than what you were expecting.
- For fast answers, chat with Steth for personalized guidance.
Introduction
Relocating for residency is a pivotal moment for new physicians. Whether you’re considering renting or buying, understanding your options can help you make confident decisions about your first home as a doctor.
Common Mistakes to Avoid
- Waiting until after Match Day to learn about physician loans.
- Assuming you need 20% down.
- Underestimating closing costs. Varies by state.
- Making large purchases before applying.
- Working with loan officers unfamiliar with physician timelines and specialized loan options.
Why Relocation During Residency Is Unique
Relocating for residency is different from moving for college or medical school. You may be:
- Moving to an unfamiliar location.
- Continuing training but now with income.
- Student loans may go into some form of repayment.
- Managing onboarding, licensing, and credentialing at the same time.
Traditional mortgage underwriting often expects stable job history and long income documentation. Physician loan programs are built around your contract and your career trajectory instead.
If you are still in the early planning phase, review our Medical Student and Resident pages for a structured overview of how doctor mortgage programs work.
Can You Qualify Before I Start Employment?
One of the most common questions we receive around Match season is: Can I qualify to buy a home and close before residency begins?
In many physician loan scenarios, the answer is yes. A properly structured offer letter or signed employment contract can be used to qualify, make an offer and close on a home before you start residency. Many lenders have flexibility up to 60 or 90 days before your start date, which gives you time to buy your home, move in, and take that well-deserved vacation before you start working.
Aside from start date, some factors that will play into your qualifications include:
- Credit profile (score and payment history).
- Income relative to existing debt (car, credit cards, etc.).
- Cash reserves (funds available after closing to bridge the gap before your first paycheck).
- Purchase price relative to program limits (residents may have maximum price limitations).
Each lender may have nuances in their underwriting guidelines for flexibility in these areas. Steth can help you answer some of your basic questions, and get you connected with a seasoned loan professional to work through the details of your individual situation.
Buying Versus Renting During Residency
This decision should be intentional, not emotional.
Renting May Make Sense If:
- You will only be in your current/new location for less than 3 years.
- You want location flexibility during your first year (although many leases are for 1 year).
- You prefer minimal responsibility during heavy call rotations.
Buying May Make Sense If:
- You expect to remain in the area for at least 3 years.
- Home prices are reasonable relative to rent (our loan professionals can help with this).
- You want stable housing costs (rents can increase each year).
- You are comfortable with home maintenance.
Because physician loan programs can offer no or low down payment options, no private mortgage insurance (PMI) and comparable rates to standard programs, it can make buying feasible in markets where rent is comparable to mortgage payments.
What Changes When You Move Across State Lines
Many lenders are limited to specific states, which can create friction when you relocate. DoctorLoans.com specialists are licensed in nearly all 50 states. In most cases, the same designated professional can assist you from start to finish, even if your residency is across the country.
This continuity matters because:
- It prevents you from restarting the process.
- It allows you to build trust and confidence with a specialist months before you buy
- It reduces friction down the road in underwriting.
If you already know where you are moving, enter your city and state into Steth and we will route your request appropriately.
Understanding Down Payment, Closing Costs, and Reserves
Even when physician loans allow low down payment options, you should plan for realistic cash needs.
Down Payment:
Depending on price point and overall income/credit/asset profile, options may range from nothing down to more traditional requirements.
Closing Costs:
Closing costs typically range from approximately 2.5% to 5% of the purchase price, depending on location and structure. These include but are not limited to lender and title fees, state/county taxes, upfront escrow (property taxes/homeowner’s insurance), and recording fees.
Sample Calculation:
If a home costs $300,000, closing costs may range from $7,500 to $15,000 plus cash reserves (see below).
Cash Reserves:
Depending on your closing date relative to your residency start date, you may be required to cover up to five months of monthly mortgage payments, plus any recurring debt obligations, until your employment income begins. Often these funds can be gifted by family members, if needed to qualify.
For a personalized breakdown based on your price range and state, chat with Steth and select “Budget planning.” However, speaking with one of our loan specialists is preferred at this stage.
A Simple Match Day Timeline
Before Match Day
- Connect with a loan professional who has expertise with doctor loan programs.
- Work with your lender to establish a realistic sales price/payment comfort range.
- Get a referral from your lender to a real estate agent that understands doctor loan financing and timelines.
- Avoid opening any new credit accounts.
- Organize basic documentation.
Immediately After Match
- Confirm your “income” start date.
- Work with a real estate agent to identify neighborhoods near your training facility.
- Decide whether you are renting or buying.
A structured timeline reduces stress and prevents last minute surprises.
How to Use Steth Effectively
For the fastest path to clarity, provide Steth with the following information:
- Your matched city and state.
- Residency start date.
- Estimated purchase price range.
- Approximate credit profile.
- Student loan status.
Steth will summarize your likely path and, if requested, connect you with a licensed mortgage professional who can review specifics. Your information is confidential and used only to connect you with licensed professionals. You are not required to proceed with any loan or lender and you are free to compare options.
Conclusion & Next Steps
Relocating for residency is a major transition, but with the right information and support, your housing decisions can be structured and stress-free. Physician home loans are designed for your unique financial profile. If you’re approaching Match Day or have recently matched, connect with Steth for a personalized plan and next steps.
This article is for educational purposes only and does not constitute a commitment to lend. Eligibility, terms, and availability vary by state, lender, credit, income, and reserves.
3 Simple Options
to Get Started
Interactive Assessment
Chat with Steth, our Physician Loan Assistant, to quickly explore your options and get immediate answers.
Connect with a Specialist
Speak with a licensed mortgage professional who can explain physician loan programs based on your career stage and location.
Do Your Own Research
Check our FAQ and our pages for every stage of your career.