How to Buy a Home Before You Finish Residency or Fellowship

Buying a home as a resident or fellow might sound impossible: long hours, student debt, and limited savings don’t exactly scream “ready to buy.” But here’s the truth: many physicians successfully purchase homes before finishing training and with the right strategy and loan, you can too.

At Physician Real Estate Network, we specialize in helping doctors navigate the home-buying process, even during residency or fellowship. Here’s how to make it happen.

1. Understand Your Options With a Physician Loan

Traditional lenders often struggle to see the full picture of your financial potential as a resident. That’s where a physician loan for residents comes in. These programs are specifically designed for medical professionals and offer unique benefits such as:

Little to no down payment required
No private mortgage insurance (PMI)
Higher loan approval limits, even with student debt
Future income considered, not just your current residency salary

Physician loans make it possible to buy a home in residency without waiting years to save for a down payment.

2. Choose a Home That Fits Your Timeline

Residency and fellowship are temporary, so think about how long you plan to stay. If you’ll only be in one location for a few years, look for a property that’s easy to rent out or resell when you move.

Many early-career doctors choose townhomes or smaller single-family homes near hospitals and medical centers as these are properties that maintain strong rental demand and long-term value.

3. Get Pre-Approved Early

Even if you’re not ready to make an offer yet, getting pre-approved gives you a clear picture of your buying power and helps you move fast when the right home appears. Partner with a lender familiar with physician loans for residents, since not all banks understand how to evaluate medical income and contracts.

At Physician Real Estate Network, we connect you with trusted lenders nationwide who specialize in working with doctors in training.

4. Factor in Future Moves and Career Goals

Buying during residency doesn’t mean you’re tied down forever. Many residents use their first home as a stepping stone and then rent it out when they relocate for fellowship or their attending position.

If you’re planning ahead, choose a home in a high-demand area near hospitals, universities, or major medical centers. That way, you’ll have no trouble renting or selling later.

5. Partner With a Realtor Who Knows the Physician Journey

Your time is limited. Between rounds, rotations, and research, you don’t have hours to spare. That’s why working with a real estate agent who understands the physician lifestyle makes all the difference.

At Physician Real Estate Network, we’ve helped countless residents and fellows buy homes across the country, guiding them through financing, timing, and long-term planning with ease.

Bottom line: You don’t have to wait until after training to own a home. With the right loan, a strategic plan, and expert guidance, buying a home during residency or fellowship can be a smart step toward your financial future.