Can a physician buy a home before the job starts?
Often yes. Many physician loan programs underwrite on a signed employment contract instead of pay stubs, and you can close before your official start date. You will need the contract, cash for closing and early payments, and a clear credit and student loan picture. Line up the lender before you fall in love with a house. Subject to credit approval and program terms.
What do you need in the employment contract?
A signed, non-contingent contract with salary and start date. Watch for license or credentialing contingencies; lenders treat those differently. Subject to credit approval and program terms.
How far before the start date can you close?
It depends on the program. Ask that question first, in writing, for your lender and loan size. Subject to credit approval and program terms.
Common questions
Can a resident buy before attending pay starts?
Often yes, with a signed contract. Subject to credit approval and program terms.
Do student loans block the file?
Physician programs often count student loans at 1% of the balance. Ask what payment your lender will use. Subject to credit approval and program terms.
Where do you lend?
I lend nationwide. Subject to credit approval and program terms.