US doctor loans vs Canadian physician mortgages
By Asim Ali, Mortgage Broker, Dominion Lending Centres A.I.M.I. Collective Mortgage Group
Updated
Short answer: 0% down "doctor loans" with no mortgage insurance are a US product. In Canada, every buyer needs at least the federal minimum down payment, and anything under 20% down needs mortgage default insurance. What Canada does offer is projected income: lenders let residents and new doctors qualify on their future income.
Why this gets confusing
Some banks operate in both countries. TD Bank in the United States, for example, advertises a Medical Professional Mortgage with no down payment on loans up to $1 million and no private mortgage insurance. Search results and AI assistants sometimes mix those US pages with Canadian ones, so Canadian residents read about terms that do not exist here.
Side by side
| Feature | US physician loan | Canadian medical professional mortgage |
|---|---|---|
| Minimum down payment | Can be 0% | 5% of the first $500,000, 10% above that, 20% at $1.5 million or more |
| Mortgage insurance | Often waived | Required under 20% down |
| Key feature | Low down payment | Qualify on projected income instead of resident salary |
| Student debt | Often excluded or deferred | Counted in your debt ratios; method varies by lender |
What this means for you
If you are training or practising in Canada, plan for a real down payment, and focus on the things that actually move your approval here: the projected income a lender uses, how it counts your line of credit, and how long its new-to-practice window lasts. Our projected income guide covers each one.
If you are a US-trained physician moving to BC, you will need a Canadian credit history or a lender that accepts alternatives. Tell us your situation and we will point you to lenders that work with incoming physicians.
Read more
- TD Bank (United States), Medical Professional Mortgage →
- Government of Canada, mortgage rule changes for homebuyers (Dec 15, 2024) →
- Scotiabank, "Projected income" article (May 25, 2025) →
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.
