Which medical professionals actually qualify for this program
The program covers a specific list of designations, not ”anyone in healthcare”: MD, DO, DDS, DMD, DVM, DPM, CRNA, and PharmD. If you’re a physician assistant, RN, or hospital administrator, this particular product isn’t built for you — but non-QM and conventional options on our panel still might be.
Modesto’s healthcare footprint runs through Doctors Medical Center, Kaiser Permanente Modesto, Memorial Medical Center, and the growing UCSF Fresno-affiliated residency pipeline that increasingly places new grads in the Central Valley rather than the Bay Area. That matters for this program specifically because of how it treats income that hasn’t started yet.
Can a new resident or fellow buy a house before their job starts
Yes — this program allows future income to count toward qualification if employment begins within 150 days of closing. That’s built for the exact situation a lot of new attendings land in: matched to a Modesto or Turlock practice, contract signed, start date still months out.
Traditional financing usually wants paystubs first. This program is underwritten around the signed offer letter instead, which is why it exists in the first place — physicians have unusual income timelines, and generic mortgage rules don’t flex for that.
Is 100% financing with no PMI actually a good idea
It can be, and it can also be the wrong move — depends on your other debt and how liquid you want to stay. Up to 100% LTV with no PMI at a 680 minimum FICO means a physician can buy without draining savings for a down payment, which is the headline feature.
But zero down means zero equity cushion on day one. In a market like Manteca or Tracy, where Bay Area transplants have pushed prices up along the Altamont corridor, that cushion matters if you need to sell or refinance in year two. A conventional loan with 5% down, or a conventional loan at 20% down that avoids PMI outright, are worth comparing side by side before you assume the no-money-down option wins by default.
Does the $2M cap matter for Modesto-area home prices
For most Stanislaus and northern Merced County home purchases, the $2M cap on this program isn’t the constraint — Central Valley prices sit well below coastal California price points, and well below the $2M ceiling. The cap matters more for physicians eyeing Bay Area-adjacent commuter towns like Tracy or Manteca, where price points run higher.
Worth knowing separately: Stanislaus, San Joaquin, and Merced are conforming baseline counties, with the 2026 conforming loan limit set at $832,750. There’s no high-balance tier here the way there is in coastal counties like San Diego — jumbo financing starts right above that baseline. The physician program’s $2M cap sits well above either threshold, so it’s rarely the binding number in this market.
How a Central Valley broker shops a physician loan differently than a bank
VegaFi doesn’t lend the money — we shop your file across 50+ wholesale lenders and let them compete for it, rather than sending you to a single bank’s one physician product. That matters more for this program than most, because physician loan terms vary noticeably by lender: some cap LTV lower for dentists than physicians, some have stricter residency-income rules.
We’re headquartered in the Central Valley, not a coastal shop treating Modesto as an afterthought. When a lender on our panel asks about your Turlock practice’s payer mix or your fellowship’s actual start date, we’ve usually already had that conversation before your file gets there.
Questions, answered.
Can a dentist get a physician loan in California?
Yes — DDS and DMD are both eligible designations on the medical professional program, alongside MD, DO, DVM, DPM, CRNA, and PharmD. Terms can vary by designation depending on the lender, which is part of why shopping across multiple wholesale lenders instead of one bank’s single product matters. Programs subject to underwriting approval.
Do I need 20% down for a physician loan?
No. The medical professional program on our panel allows up to 100% LTV with no PMI, meaning qualifying physicians can finance without a down payment at all. That’s different from conventional financing, where 20% down is the threshold to avoid PMI. Whether 100% financing is the right call depends on your broader financial picture.
What credit score do I need for a physician mortgage?
The program’s minimum FICO is 680. That’s the floor for this specific product — other factors like debt-to-income and the underlying lender’s overlays still apply, and approval is never automatic at 680. Programs subject to underwriting approval.
Can I buy a home in Modesto before my residency or job starts?
Potentially yes. The program allows future income to count if employment starts within 150 days of closing, which fits new residents, fellows, or attendings who’ve signed a contract but haven’t started collecting paystubs yet. Underwriters will want to see the signed offer or contract.
Is a physician loan better than a conventional loan in the Central Valley?
It depends on your down payment and reserves, not a blanket answer. Physician loans skip PMI at high LTV, but conventional loans at 5% or 20% down carry lower long-term risk from having equity on day one. In Modesto’s price range, both are worth comparing before choosing.
Does the $832,750 conforming limit apply to physician loans in Stanislaus County?
The physician program’s own cap is $2M, well above the conforming baseline. The $832,750 figure is the separate 2026 conventional conforming limit for Stanislaus, San Joaquin, and Merced counties — relevant if you’re comparing against conventional or jumbo options, not a constraint on the physician program itself.
More VegaFi guides and tools.
Programs subject to underwriting approval. Terms vary by lender and by program. Not a commitment to lend. VegaFi is a mortgage broker, not a lender.