The two sums that decide a Texas physician purchase
Program and regulatory figures verified October 5, 2026. Details change; confirm your scenario with us.
Most physician-loan calculators are built around a loan-limit question Texas does not have. These are the two that matter here.
Why the usual first sum does not apply
The 2026 conforming limit in Texas is $832,750. Typical values:
| Metro | Typical value | Room under the limit |
|---|---|---|
| Austin | $417,977 | $414,773 |
| Dallas | $360,437 | $472,313 |
| Houston | $305,001 | $527,749 |
| San Antonio | $276,747 | $556,003 |
Nobody buying a typical Texas home is anywhere near the ceiling. Skip it. The market.
Sum one: the deposit
A physician programme offers up to 100% financing with no monthly PMI and 5%-down options. A conventional loan generally requires mortgage insurance above 80% LTV.
So the question is what you have saved, and what carrying mortgage insurance would cost you against bringing the programme in instead. On a Dallas home at $360,437, 20% down is a materially different cash requirement from zero.
★ The honest counterweight: 100% financing means no equity at the start, in markets that run 61 to 82 days. Decide with that in view. Where each route wins.
★ Sum two: the debt, which usually decides it
| Balance | Conventional, 1% (B3-6-05) | FHA, 0.5% (HUD 4000.1) | Physician programme |
|---|---|---|---|
| $200,000 | $2,000/mo | $1,000/mo | Your documented IDR payment |
| $300,000 | $3,000/mo | $1,500/mo | |
| $400,000 | $4,000/mo | $2,000/mo |
Those middle columns are phantom obligations — amounts you are not paying that still consume your ratio. In Texas, where the house is affordable, this is almost always what decides the outcome. The detail.
What arithmetic cannot tell you
Whether the file is approved. Physician programmes carry lender overlays covering credit, assets, the property and the employment contract. Nothing here is a guarantee of approval.
Your actual documented payment. That comes from your servicer, and treatment of a documented $0 payment varies.
Whether a loan-repayment award will come. It is not income until granted, and the July 2026 State Auditor report found the Board wrongly denied some applicants eligible for prorated awards. The audit.
What is not here
No rates, no APRs, no monthly payment figures, anywhere on this site. Send the scenario and we will run your actual numbers.
Frequently asked questions
What limits how much house a Texas physician can buy?
The debt-to-income ratio and the deposit, not the loan limit. Every major Texas metro's typical value sits far below the $832,750 conforming limit, so the binding constraint is usually how student debt is counted.How much does student debt reduce Texas borrowing power?
Under Fannie Mae B3-6-05 a conventional loan counts 1% of the balance, so $200,000 produces a $2,000 monthly obligation, $300,000 produces $3,000 and $400,000 produces $4,000, whatever you actually pay. A physician programme can use the documented income-driven payment instead.Does a calculator tell me if I qualify for a physician loan?
No. Physician programmes are underwritten with lender overlays covering credit, assets, the property and the employment contract. Arithmetic sets a range; it does not approve a file.Mike Certo · NMLS #260555 · Cornerstone First Mortgage NMLS #173855 · Equal Housing Lender. Educational content, not a loan commitment and not legal, tax, or licensure advice. Physician-loan program terms, eligible degrees, and overlays are set by the lender and change; Texas loan-repayment program terms and award cycles change too. Confirm your scenario with us and your program administrator. All loans are subject to borrower and property qualification, including credit and income review.