The Texas physician loan guide
Program and regulatory figures verified October 5, 2026. Details change; confirm your scenario with us.
Everything on this site in one place, in the order a Texas physician meets it. Every figure carries its source and the date we read it.
What a physician loan is
A lender portfolio product written to the Sequoia Medical Professionals Program guide (v1.1, effective March 2, 2026), not to agency rules. The terms are set by the lender and can change.
What it does: up to 100% financing with no monthly PMI, 5%-down options, to a $2M ceiling.
Who qualifies
Eligible degrees: MD, DO, DDS, DMD, DPM, OD, PharmD, DVM and CRNA. Residents and fellows qualify alongside attendings. Eligibility is set by the programme guide, never by the state. The list.
★ Why Texas is not California
This matters because most physician-loan advice online is written for coastal markets, and its reasoning does not transfer.
| Texas | California | |
|---|---|---|
| Conforming limit | $832,750 | up to $1,249,125 |
| Priciest metro | Austin $417,977 | San Jose $1,527,731 |
| Price vs the limit | ★ about half | ★ above the ceiling |
| Market pace | 61–82 days, slower than national | 37–48, faster |
| What the product solves | Deposit and debt | Reach |
In Texas, no major metro's typical home comes close to the limit. The product has to earn its place on something else — and it does. The market.
The thing that actually decides Texas files
| Route | How the payment counts |
|---|---|
| Physician programme | Your documented income-driven payment |
| Conventional | 1% of balance — Fannie Mae B3-6-05 |
| FHA | 0.5% of a zero-payment balance — HUD 4000.1 |
A $300,000 balance is a $3,000 monthly phantom debt on conventional — about the price of a typical Houston house, and more than a typical San Antonio one. The detail.
The state programmes, and the audit
Texas runs physician and mental health loan repayment through THECB, paying $22.1 million and $15.2 million respectively in FY2024-25. The mental health programme grew thirteenfold in two bienniums.
★ The July 2026 State Auditor report found the Board "inappropriately denied applicants who may have been eligible for prorated awards." And THECB publishes no programme page for either — checked across all 698 URLs in its sitemaps.
The audit · The thirteenfold programme.
If you have not started yet
A physician programme can allow closing up to 150 days before an attending start date on a signed contract, against Fannie Mae B3-3.3-03's 90. In Texas's unhurried markets that is about moving once rather than winning a bid. How it works · Residents and fellows.
Where you are buying
Houston · Dallas · Austin and San Antonio. And if the physician route is not right for you: how it compares with conventional.
Frequently asked questions
What is a physician loan in Texas?
A lender portfolio mortgage product written to the Sequoia Medical Professionals Program guide rather than agency rules. It offers up to 100% financing with no monthly PMI and 5%-down options to a $2 million ceiling, and can count a documented income-driven student loan payment.Do Texas physicians need a physician loan?
Not for loan size. Every major Texas metro's typical value sits far below the $832,750 conforming limit, with Austin the highest at $417,977. The product earns its place on the down payment and on how student debt is counted.Which degrees qualify for a Texas physician loan?
MD, DO, DDS, DMD, DPM, OD, PharmD, DVM and CRNA under the Sequoia Medical Professionals Program guide version 1.1, effective March 2, 2026. Residents and fellows qualify alongside attending physicians.Does Texas help physicians with student loans?
Texas runs a Physician Education Loan Repayment Program and a Mental Health Professional Loan Repayment Program through the Higher Education Coordinating Board, which paid $22.1 million and $15.2 million respectively in FY2024-25. The July 2026 State Auditor report found the Board wrongly denied some applicants eligible for prorated awards.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.