Conventional Loan		DrLoan.com
Available to anyone who qualifies.	Availability	Available to residents, fellows, and attending physicians
Must fit into Fannie Mae / Freddie Mac guidelines.Similar guidelines from lender to lender.	Guidelines	Does not have to fit exactly into Fannie Mae / Freddie Mac guidelines (more flexible guidelines) Have different guidelines from lender to lender.
20% down payment or more.	Down Payment	Lower down payment options including 0%.
Less than 20% down results in PMI.	PMI*	No PMI.
Student loan monthly debt burden is calculated using 1% of the loan amount.	Studen Loans	Student loan monthly debt burden may be calculated differently, depending on phase of repayment. (See student loan section).
W-2, need minimum of two paychecks.	W-2	You may be able to close prior to starting work with an employment contract or offer letter.
1099, requires two years of tax returns.	1099	1099 - two years of tax returns or possibly fewer with an employment contract or well-worded letter.
Rates vary slightly from bank to bank.	Rates	Variable - banks may have the same, higher or, in some cases, lower rates than conventional rates.
Reserve requirements oftentimes three to six months of PITI (monthly principal, interest, taxes and insurance).	Reserve Requirement	May not have a reserve requirement.
May have a cap on how much gift money you can receive.	Cap on Gift Funds	Some do not have a cap on how much gift funds you can receive.

*PMI (private mortgage insurance) – if you put less than 20% down on a house, you’ll have to pay an additional monthly premium known as private mortgage insurance, or PMI. This additional cost protects the lender’s investment if you fall behind on your monthly payments and default on the loan.