The best physician mortgage lenders in Central Florida include SouthState Bank, Fifth Third Bank, First Horizon, and USF Credit Union. Compare down payment, max loan, student loan treatment, and pre-start closing timelines to choose your best fit.
Why This Matters Right Now
You are shopping in a balanced Central Florida real estate market, which gives you leverage you did not have a few years ago. Inventory sits near 4.5 to 5 months of supply, days on market average about 27 to 37, and price growth has cooled to roughly 2 to 4 percent per year. Mortgage rates hovered around the mid 6s in 2025 and have trended slightly lower into early 2026, which improves affordability. As a physician, you can pair better negotiating conditions with a doctor mortgage that reduces cash due at closing and removes PMI. Your timing could also align with a residency, fellowship, or new attending start date, since physician programs can close up to 60 to 90 days before you begin work with a signed contract in hand.
What You Need to Know Before Choosing a Physician Mortgage
You should understand how physician mortgages differ from conventional loans so you can target the right lender and structure. Most physician programs are designed for MD, DO, DMD, DDS, and often DPM, with some including residents, fellows, and recent grads.
Key differences you can expect:
- Down payment: 0 to 5 percent down to loan amounts between about 1.0 and 1.5 million, higher caps with 5 to 10 percent down. No PMI.
- Student loans: Deferred or forbearance loans are often excluded from debt-to-income if the deferment is at least 12 months. Otherwise, lenders may use an IDR payment or a small percentage of the balance.
- DTI flexibility: Physician loans may allow 50 to 55 percent total DTI, compared with 43 to 45 percent on many conventional loans.
- Pre-start closings: Many lenders allow closing 60 to 90 days before your employment start with a signed contract.
- Credit score: Strong approvals often start at 700, top pricing typically requires 720 or higher.
- Reserves: You may need 2 to 6 months of reserves at higher loan amounts.
- Property types: Owner-occupied primary residences only, including single family, townhomes, and warrantable condos. Investment properties are not eligible.
Conventional financing still matters if you plan to buy future rentals. Investor doctors often use conventional or specialty investor financing for additional doors as careers progress.
How to Compare Your Physician Mortgage Options
You will find several strong programs serving orlando florida and broader Central Florida. Terms change, so confirm current guidelines when you apply, then compare side by side.
Snapshot of common options:
- SouthState Bank: Often offers up to 100 percent financing to about 1.5 million with no PMI. Open to residents and fellows. Competitive for primary residences across the region.
- Fifth Third Bank: Frequently provides 0 percent down to around 1.25 million and 10 percent down to higher jumbo tiers, with flexible student loan treatment after 12 months of deferment.
- First Horizon Bank: Known for flexible MD and DO guidelines, early closings before start dates, and competitive jumbo options with low or no PMI.
- USF Credit Union: Medical professionals mortgage with up to 100 percent financing to mid jumbo territory, often ideal for first home buyer physicians.
- Specialty local lenders: You can sometimes secure 100 percent financing with fast turn times from local physician-focused teams that serve Central Florida hospitals and clinics.
Rate comparisons vary by loan size, LTV, and credit. Physician rates can be close to conventional when you put 10 percent down, and slightly higher at 0 percent down. What matters most is total cost over your expected time in the home.
Key factors to evaluate:
- Maximum loan amount and down payment tiers, including when PMI is waived
- Student loan treatment and DTI cap, especially if you are starting new employment
- Pre-start closing rules, reserve requirements, and condo eligibility
Your Step-by-Step Guide to Getting a Physician Loan in Central Florida
You will move faster and with fewer surprises if you follow a clean sequence and build a fully documented file upfront.
1) Get your employment contract. Make sure it includes base pay, start date, and any sign-on or guarantee. Ask HR for a letter if needed.
2) Gather documentation. Prepare your license or match letter, two months of bank statements, last two pay stubs if working, photo ID, and your current CV or proof of training.
3) Pull a tri-merge credit report with the lender. Verify that student loans are listed correctly, especially deferment dates and IDR status.
4) Apply with two physician mortgage lenders on the same day. You will want competitive quotes, identical inputs, and a soft comparison within a short window that minimizes credit impact.
5) Receive a pre-approval within 24 to 72 hours. Confirm the max purchase price, rate quote, cash to close, and reserve requirement. Make sure the pre-approval letter references your pre-start closing if applicable.
6) Shop homes aligned with commute goals. Target under 30 minutes to your hospital or clinic and confirm HOA, CDD, and property taxes, since these affect DTI.
7) Make an offer with financing and appraisal contingencies. If closing before your start date, include appropriate employment language.
8) Complete appraisal and underwriting conditions. Turn times are typically 10 to 21 days for underwriting and 7 to 14 days for appraisal in Central Florida.
9) Lock your rate and clear to close. Coordinate final employment verification, homeowner’s insurance, and condo questionnaire if needed.
10) Close and move in. Keep your first payment date on your calendar and store all closing documents for future refinancing or tax filing.
What This Looks Like in Winter Garden and Nearby Orlando Florida Neighborhoods
You will find strong physician loan fits near Winter Garden, especially within Horizon West and Hamlin. Commutes to downtown Orlando, AdventHealth, Orlando Health, and Lake Nona’s Medical City are convenient via FL 429, FL 408, FL 528, and I 4. SunRail and Brightline enhance regional connectivity, which helps with resale.
Price guidance based on recent MLS and association trends:
- Winter Garden, Horizon West, Hamlin: Many new builds and recent resales. Townhomes often in the mid 300s to high 400s. Single family commonly mid 500s to 900k, with luxury real estate above that.
- Lake Nona, Medical City: High demand for healthcare professionals. Many single family homes in the 600k to 1.2 million range, plus higher-end options that fit Luxury homes in Central Florida budgets.
- Winter Park and Maitland: Established neighborhoods with walkable districts and highly rated schools. Townhomes and smaller single family homes often start in the 500s to 700s, with premium properties above 1 million.
For Investor doctors, physician mortgages cover only your primary home. You can still plan your next purchase as a real estate investor doctors strategy using conventional or investor products later. For value, consider Clermont or Davenport where newer subdivisions and resort amenities can price lower than core Orlando neighborhoods, although commute times increase.
Neighborhoods to consider:
- Horizon West, Winter Garden: Newer construction, A rated school zones, easy FL 429 access, townhomes mid 300s to high 400s, single family mid 500s to 900k
- Lake Nona, Medical City: Proximity to hospitals and research hubs, single family 600k to 1.2 million, top-tier amenities
- Winter Park: Walkable, established, excellent schools, many options from upper 600s to multi million luxury homes
What Most People Get Wrong
You might hear that physician mortgages always have higher rates. That is not universally true. With 5 to 10 percent down and strong credit, your rate can be close to conventional. You might also assume PMI is unavoidable with a small down payment. Physician loans remove monthly PMI, which improves your payment even if the rate is modestly higher. Another misconception is that you cannot close before your start date. With a contract and proper underwriting, you can often close 60 to 90 days in advance.
You should also avoid ignoring taxes, HOA, and CDD assessments in Horizon West and other master planned communities. These items can add hundreds per month and affect your approved price. If you plan to buy a condo, confirm warrantability and owner occupancy ratios early. Finally, physician loans are for primary residences. If you are building a portfolio as Investor doctors, plan a separate financing route for additional properties.
Frequently Asked Questions
Can you close before your residency, fellowship, or attending start date?
Yes. Many physician lenders allow closing 60 to 90 days before your start date with a signed employment contract that states salary and terms. You still need sufficient reserves and clear conditions. Underwriting will complete a final employment verification before closing or right after.
Are physician mortgage rates higher than conventional?
Sometimes, but not always. At 0 percent down, you may see a small premium over conventional. With 5 to 10 percent down and strong credit, your rate can be comparable. Since there is no PMI, your total monthly cost can still be very competitive. Compare APR and payment, not just rate.
How much can you borrow with zero down in Central Florida?
Typical caps range from about 1.0 to 1.5 million with 0 percent down, depending on your credit, specialty, and lender. With 5 to 10 percent down, max amounts increase into higher jumbo tiers. Programs change, so confirm today’s bands when you are pre-approved.
How are student loans treated on physician mortgages?
Deferred or forbearance loans may be excluded if the deferment extends at least 12 months beyond closing. If not deferred, some lenders use the IDR payment, and others use a small percentage of the balance. Provide documentation of deferment terms or your IDR approval to optimize DTI.
Can you use a physician loan for condos, townhomes, or new construction?
Yes, if it is your primary residence. Townhomes and single family homes are commonly eligible. Condos must be warrantable with acceptable owner occupancy and reserves. New construction is eligible with builder-approved timelines. Check HOA and CDD amounts to keep your payment within DTI limits.
Conclusion
You can secure a low or no down payment mortgage without PMI, qualify with flexible DTI, and close before your start date when you choose the right physician lender. In Central Florida, strong options include SouthState Bank, Fifth Third Bank, First Horizon, and USF Credit Union, along with specialty local teams. Compare maximum loan amounts, down payment tiers, student loan treatment, and pre-start closing rules, then align those terms with your target neighborhood and commute. If you want higher price points or luxury homes in Central Florida, structure a jumbo physician loan with adequate reserves and a realistic timeline.
If you’re ready to explore your options for physician mortgages in Winter Garden and greater orlando florida, Angela Rodriguez at Dream Finders Realty Group can walk you through the specifics for your situation.
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