Professional student lines of credit compared
By Asim Ali, Mortgage Broker, Dominion Lending Centres A.I.M.I. Collective Mortgage Group
Updated
Short answer: the big banks offer medical and dental students lines of credit of roughly $400,000 to $425,000, usually at prime minus 0.25%, with no principal payments until after residency. When you apply for a mortgage, lenders count a monthly payment for that line, and how they calculate it differs, which can change how much you can borrow.
What the banks publish
| Bank | Maximum | Rate stated | Repayment notes |
|---|---|---|---|
| Scotiabank Professional Student Plan | Up to $400,000 | Prime − 0.25% | No payments required until you finish residency, plus a two-year grace period |
| RBC Royal Credit Line | Residents up to $425,000 | Prime − 0.25% with RBC Healthcare Advantage | No need to reapply after residency |
| TD Healthcare Student Line of Credit | Up to $400,000, depending on program | See TD | No principal payments until 24 months after you leave school or residency |
| CIBC (physicians) | Not stated | Prime − 0.25% | Preferred mortgage pricing for physicians |
| National Bank (physicians and dentists) | Not stated | Prime − 0.25% | Offer for physicians, residents and dentists |
Terms as published by each bank. Banks change terms often, so we confirm current terms for your application.
How your line of credit affects a mortgage
Mortgage lenders qualify you with two debt ratios: housing costs against income, and total debt payments against income. Even if you only pay interest on your line of credit today, the lender adds a monthly payment for it. Lenders use different methods: some base the payment on your balance, some on your limit, and the percentage varies. On a large medical line of credit, the method can be worth tens of thousands of dollars of borrowing power.
Practical tips
- Know your exact balance, limit and current rate before you apply.
- Do not open new credit or raise your limit in the months before buying.
- Ask which method a lender uses before you accept a pre-approval.
- If you plan to consolidate the line into a business account after training, ask how that will be treated at renewal.
Read more
- Scotiabank, medical residents page →
- RBC, Royal Credit Line for medical and dental professionals →
- TD, Healthcare Student Line of Credit →
- CIBC, banking for physicians →
- National Bank, offer for doctors →
Lender programs change often. Figures on this page are current as of November 2, 2026 and are examples, not offers. Your approval depends on the lender and your full application.
