Physician Loan Rates in Florida
What drives physician mortgage rates for Florida doctors, how no-PMI structuring affects your number, and when to lock. Licensed FL mortgage broker NMLS# 1859012.
By Onias Derilus, Mortgage Capital · NMLS# 1859012 · Last Updated: June 2026
Physician loan rates in Florida sit close to conventional, and the structure often wins on total cost because there is no monthly mortgage insurance. For doctors with strong future income but thin savings, that combination can beat a traditional loan even at a similar rate. Your number depends on credit, the loan size, and timing.
What Affects Your Physician Loan Rate?
Physician loans price much like conventional mortgages, with a lender that understands a doctor's income trajectory. The big difference is no private mortgage insurance, even with little or nothing down.
Your credit score and the loan amount set the headline rate. Because there is no PMI, your all-in monthly cost can be lower than a conventional loan at the same rate.
Sample Physician Payment by Rate
The table shows how the rate changes monthly principal and interest on a $500,000 physician loan. These are illustrations only, not a rate quote, and they exclude taxes, insurance, and any HOA dues. Note there is no PMI line because physician loans waive it.
| Sample Rate | Monthly P&I | Interest Over 30 Yrs |
|---|---|---|
| 6.375% | $3,120 | $623,000 |
| 6.875% | $3,285 | $683,000 |
| 7.375% | $3,454 | $743,000 |
| 7.875% | $3,626 | $805,000 |
Illustrative only. Based on a $500,000 loan over 30 years; excludes property taxes, insurance, and HOA dues. Your actual rate and payment will differ. Call (561) 300-0380 for a personalized quote.
How Waiving PMI Shapes Your Cost
On a conventional loan with low down payment, private mortgage insurance can add hundreds of dollars a month until you reach 20% equity. Physician loans remove that line entirely.
That savings often offsets a slightly higher rate, so compare the all-in payment, not just the rate. Run scenarios on our mortgage payment calculator to see the difference.
When to Lock Your Physician Rate
Once you are under contract, a lock holds your rate for 30 to 60 days while we close. Many physician loans accommodate a future start date, which helps residents and fellows who are relocating for a new position.
Watch the broader market with our Florida mortgage rates page, and ask us about float-down options when you lock.
Physician Loan Rates — FAQ
Physician loan rates sit close to conventional, sometimes a touch higher. Because physician loans waive private mortgage insurance even with little down, the all-in monthly cost can be lower than a conventional loan at the same rate. Always compare the full payment, not just the rate.
No. Physician loans waive private mortgage insurance even with a low or zero down payment. On a conventional loan, PMI can add hundreds of dollars a month until you reach 20% equity, so removing it is a major part of the value.
Credit score is a primary driver. A stronger score improves your pricing, just as it does on a conventional loan. Physician programs reward doctors with clean credit and a strong income trajectory, even when savings are still thin early in a career.
Get Your Personalized Physician Loan Rate Quote
No PMI · Student debt solutions · Licensed FL mortgage broker NMLS# 1859012
Rates are illustrative only. APR and payments vary by credit score, loan amount, and market conditions. Subject to credit approval. Not a commitment to lend. NMLS# 1859012. Equal Housing Lender.