What to Prepare Before Starting the Physician Mortgage Process
Having the right documentation ready before the planning review reduces delays and allows for a more complete picture of your financing options. This checklist covers the most common items needed for a physician mortgage application.
Matt Siket | Mortgage Loan Originator | NMLS #442558
Four Categories of Documentation
Not every item on this list will be required for every situation. The planning review will identify which documents are needed based on your specific circumstances.
Income Documentation
- Two most recent years of federal tax returns (all pages)
- Two most recent W-2s or 1099s
- Two most recent pay stubs (if currently employed)
- Signed employment contract (if transitioning to a new position)
- Offer letter or contract with start date and compensation details
Asset and Debt Documentation
- Two most recent bank statements (all pages, all accounts)
- Investment and retirement account statements
- Student loan statements showing current balance and repayment structure
- Documentation of any other monthly debt obligations
- Gift letter if any portion of funds is a gift from a family member
Property and Housing
- Current lease agreement (if renting)
- Documentation of current housing costs
- Target purchase price range and desired location
- Property type preference (single family, condo, new construction)
- Desired closing timeline
Personal and Professional
- Government-issued photo ID
- Social Security number for credit review
- Medical license or proof of professional designation
- Malpractice insurance documentation (if applicable)
- Contact information for employer HR or credentialing office
When to Start Gathering Documentation
60–90 days before your target closing date
This is the ideal window to begin the planning review. It allows enough time to review documentation, confirm program eligibility, and address any gaps before making offers.
When you sign an employment contract
If you are transitioning from training to an attending position, the contract signing is the trigger to begin the mortgage planning process — even if the start date is months away.
Before you begin touring homes
Understanding your financing options and approximate budget before you begin making offers prevents the frustration of finding a home before the financing plan is in place.
Ready to Begin the Planning Review?
I'll walk through your documentation, review your financing options, and help you build a plan before you begin making offers. No obligation — just a clear picture of your options.