Physician Mortgage Lenders in

New York

Physician Mortgages in New York: A Doctor's Research Guide

New York spans two very different markets: the high-cost New York City metro — Manhattan, the outer boroughs, Long Island, and Westchester — and far more affordable upstate cities like Buffalo, Rochester, Albany, and Syracuse. A physician mortgage helps in both, but the property type matters more here than almost anywhere else in the country.

Dr. Home Finance is not a lender. We're a research and matching service that connects doctors and medical professionals with banks that have built mortgage programs specifically for physicians. The rates, limits, and terms below come from those lenders — not from us — and are subject to each lender's approval.

Get matched with a New York physician‑mortgage lender →

What makes a physician mortgage different

Physician programs (“doctor loans”) are designed around the financial shape of a medical career. Compared with a conventional loan, the banks in our network commonly offer:

• Low or no down payment, with some lenders financing up to 100% (varies by lender and degree)

• No private mortgage insurance (PMI), even with less than 20% down

• Student‑loan‑friendly underwriting, often using income‑based payments rather than the full balance

• Qualifying on a signed employment contract, before your first paycheck

Exact figures differ by lender — compare the banks that serve New York.

What's different about buying in New York

• Co-op vs. condo is the key question. Much of NYC — especially Manhattan — is co-ops, which require board approval and often set their own minimum down payments (frequently 20%+), which can conflict with low-down physician financing. Condos are generally more compatible with physician programs. If you're buying in the city, sort out property type early.

• Jumbo territory in the metro. NYC, Long Island, and Westchester prices usually require jumbo loans; many physician programs extend to high balances. Upstate is a different world on price.

• High taxes — and a mansion tax. New York's state and (in NYC) city income taxes reduce take-home pay, and purchases at $1M+ trigger the mansion tax. Budget the total cost with a mortgage calculator.

• Major medical employers. Doctors at Northwell Health, NYU Langone, Mount Sinai, NewYork-Presbyterian (Columbia and Weill Cornell), Montefiore, the University at Buffalo, and URMC are exactly who these programs serve.

Who qualifies in New York

Most physician programs are open to MD, DO, DDS/DMD, and DPM — and some extend to DVM and other advanced degrees — at the resident, fellow, and attending stages. Eligibility and terms vary by lender. Learn how physician loans work and which degrees qualify.

How Dr. Home Finance helps New York doctors

We give you the research to understand your options and match you with a banker whose physician program fits your situation — at no cost and no obligation. You can also contact a banker directly. We never lend and never steer you to a specific rate; we help you compare and connect. Start your match →

New York physician mortgage FAQ

Do doctors get better mortgage rates in New York?
Not automatically. The advantage is usually in the terms — no PMI, low or no down payment, and student‑debt‑friendly underwriting. Rates vary by lender and profile, which is why comparing matters.

How do physician mortgage loans work?
A bank with a physician program lets eligible doctors finance a home with little or no money down and without PMI, often qualifying you on a signed contract and income‑based student‑loan payments. You're matched with a lender, get pre‑approved, and shop with confidence.

Can I use a physician loan for a NYC co-op?
Often it's harder. Co-op boards set their own down-payment and financing rules, which can conflict with low-down physician programs; condos are usually a better fit. Ask your matched lender which property types its program allows.

Who qualifies for a physician mortgage in New York?
Generally MD, DO, DDS/DMD, and DPM physicians — residents, fellows, and attendings — with some lenders including additional degrees. Each lender sets its own rules.

Can New York residents and fellows buy before they start work?
Often, yes — many programs let you close using a signed employment contract shortly before your start date. Common for doctors relocating to New York for residency or a new position.

Compare New York physician‑mortgage lenders and get matched →

Where doctors buy in New York

New York physicians cluster across New York City and several upstate metros served by major academic medical centers.

• New York City — home to NewYork-Presbyterian, NYU Langone, Mount Sinai, and Montefiore

• Buffalo — western New York's regional hub served by Kaleida Health and others

• Rochester — anchored by the University of Rochester Medical Center

Home prices vary widely between New York's major metros and its smaller communities, so a physician mortgage pre-approval helps you shop confidently in whichever market fits your role. Compare lenders that serve New York →

Keep researching physician mortgages

• Who qualifies — degrees, and residents vs. attendings

• Student loans & how much house you can afford

• Down payment & avoiding PMI

• Physician loan vs. conventional and FHA

• Rates & refinancing

• The home‑buying process, step by step

Reviewed by Jessica Hegge, Partner at Dr. Home Finance · Our editorial process · Last reviewed July 2026. Dr. Home Finance is a research and matching service, not a lender or broker; all loan terms are provided by third‑party lenders and subject to their approval. Equal Housing Opportunity.