Calculate your exact monthly payment on a physician mortgage loan. See your PITIA breakdown, PMI savings versus conventional loans, and an amortization schedule — all with no signup required.
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Your physician mortgage monthly payment is more than just the loan principal and interest. Lenders and servicers bundle several costs into a single monthly payment, and understanding each component helps you budget accurately and avoid surprises after closing. The total monthly obligation on a physician mortgage is referred to as PITIA, which stands for Principal, Interest, Taxes, Insurance, and Assessments.
Principal is the portion of your payment that reduces your loan balance. In the early years of a 30-year mortgage, only a small fraction of each payment goes toward principal, with the majority covering interest. Over time, this ratio shifts in your favor through amortization. Interest is the cost of borrowing, calculated as your annual rate divided by 12 and applied to the remaining balance each month. Taxes represent your annual property tax bill divided into 12 monthly installments and held in an escrow account managed by your loan servicer. Insurance covers your homeowners insurance premium, also collected monthly through escrow. Assessments include HOA dues or any other recurring property assessments that may apply.
For example, on a $500,000 physician mortgage at 6.75% with 0% down over 30 years, your monthly principal and interest payment would be approximately $3,243. Add $500 per month in property taxes and $150 in homeowners insurance, and your total PITIA reaches $3,893 per month. Use our DTI calculator to see how this payment affects your debt-to-income ratio.
The single biggest financial benefit of a physician mortgage is the elimination of private mortgage insurance. On a conventional loan with less than 20% down, PMI typically costs 0.5% to 1.0% of the loan balance annually. On a $500,000 loan, that adds $208 to $417 per month to your payment, building zero equity. Over 30 years, you could pay $75,000 or more in PMI premiums before reaching 20% equity. Physician mortgage programs waive PMI entirely, regardless of your down payment, saving you hundreds of dollars every single month. Use our main mortgage calculator to see how no-PMI compares to conventional options.
Physician mortgage programs require escrow (impound) accounts for property taxes and homeowners insurance. This means your lender collects these amounts as part of your monthly payment and pays the bills directly on your behalf. While some conventional loans allow borrowers to waive escrow, physician mortgages do not offer this option. The benefit is straightforward: you never face a surprise property tax bill or lapsed insurance policy because your lender manages these payments automatically. Your monthly payment to the lender includes the full PITIA amount.
Understanding each component of your payment helps you make informed decisions about home price, down payment, and loan term. For a full breakdown of who qualifies for these physician-only loan programs, see our eligibility guide.
At 6.75% with 0% down on a 30-year fixed, the principal and interest payment is approximately $3,243/month. Adding taxes and insurance brings the total PITIA to roughly $3,893. No PMI is included at any down payment. Use our payment calculator for exact numbers.
With a $250,000 annual salary and physician mortgage terms (0% down, no PMI, 50% max DTI), most doctors can afford $650,000–$800,000 depending on existing debts. Deferred student loans may be excluded. Try our affordability calculator for a precise estimate.
Your payment includes principal, interest, property taxes, homeowners insurance, and HOA fees if applicable (PITIA). Physician mortgages never include PMI, even with 0% down. Escrow accounts for taxes and insurance are required. See your full breakdown with our payment calculator.
Your physician mortgage monthly payment includes PITIA: Principal (the amount reducing your loan balance), Interest (the cost of borrowing), Taxes (property taxes collected monthly into escrow), Insurance (homeowners insurance collected monthly into escrow), and Assessments (HOA dues or other recurring property fees). Unlike conventional loans where escrow may be optional, physician mortgages require escrow accounts for taxes and insurance. The total PITIA amount is what your lender collects each month as a single payment.
On a $500,000 physician mortgage with 0% down at a 6.75% interest rate over 30 years, your monthly principal and interest payment would be approximately $3,243. Adding typical property taxes of $500/month and homeowners insurance of $150/month brings your total PITIA to roughly $3,893 per month. With no PMI required, this is approximately $271 less per month than a conventional loan with the same terms that charges PMI. Your actual payment will vary based on your specific rate, property taxes, and insurance costs in your area.
Yes, escrow (impound) accounts are required on physician mortgage programs. Your lender collects monthly payments for property taxes and homeowners insurance as part of your PITIA payment and pays these bills on your behalf when they come due. This protects both the lender and you from missed payments. Unlike some conventional loans that allow borrowers to waive escrow in exchange for a slightly higher rate, physician mortgages do not offer an escrow waiver. The upside is that you never face a large lump-sum tax or insurance bill.
Putting $0 down means you are financing 100% of the home price, so your monthly principal and interest payment will be higher compared to putting money down. For example, on a $500,000 home at 6.75% over 30 years, 0% down results in a P&I payment of $3,243, while 10% down ($50,000) reduces it to $2,919 per month, a savings of $324. However, even with 0% down, physician mortgages charge no PMI, which saves you $208 to $417 per month compared to a conventional loan. Many physicians choose 0% down to preserve cash for emergency reserves, student loan payments, or investment opportunities, since the PMI savings offset much of the higher payment.
Yes, there are several ways to reduce your payment after closing. The most common is refinancing to a lower interest rate when market rates drop. Physician mortgage borrowers can refinance into another physician mortgage program or a conventional loan once they have sufficient equity. You can also appeal your property tax assessment if you believe your home is overvalued, which directly reduces the escrow portion of your payment. Shopping for more competitive homeowners insurance is another option. Additionally, if your home value increases and you refinance into a conventional loan with 20% or more equity, you may access even more competitive rates. Some borrowers also make extra principal payments to reduce their balance, which shortens the loan term and reduces total interest paid over the life of the loan.