Spokane Doctor Loan Guide: A Smart Path to Homeownership for Physicians and Medical Professionals

Relocating to Spokane for residency or a new medical position? You’re not alone—and you’re definitely not the only one wondering how to make homeownership feasible in a competitive market. Between rising home prices and the demands of a medical career, buying a home might feel out of reach—especially if you're just transitioning out of residency. But here's the good news: there's a loan program designed specifically for professionals like you.

Let’s walk through what it is, how it works, and which Spokane neighborhoods make the most sense for your lifestyle, budget, and schedule.

What is a Doctor Loan?

It’s not just for doctors.

While often referred to as a “doctor loan,” this specialized mortgage product applies to a wide range of high-earning professionals—including residents, physician assistants, nurse anesthetists, dentists, attorneys, CPAs, engineers, and architects.

The key benefits:

• 0% down payment options

• No monthly mortgage insurance (PMI)

• Higher loan limits—up to $1.25M with zero down

• Flexibility around student loan debt

• Qualify with an offer letter or signed contract—even before your first paycheck

This loan is a powerful tool for early-career professionals who might have limited savings, large student loans, or want to keep their cash available for other investments.

When It Makes Sense

This isn’t a loan for everyone—but it’s especially useful for:

• Medical residents or recent graduates who need to buy before earning a full attending salary

• Physicians with high student debt that would normally limit loan eligibility

• Buyers relocating quickly who need to purchase before starting their job

• Financially savvy professionals who prefer to invest their cash elsewhere instead of tying it up in a down payment

The program is designed to get professionals into homes early in their careers, when their earning power is high—but their savings might not be.

What Are the Limits?

Here’s a quick overview of what to expect:

• Property types: Primary or second homes; must be single-family residences (some accessory dwelling units allowed)

• Loan limits: 0% down up to $1.25M; up to $2.5M with tiered down payments

• Credit requirement: Minimum score of 720

• Loan structure: Usually an ARM (adjustable-rate mortgage) with a fixed term of 5–10 years upfront

Yes, the rate might be slightly higher than a traditional 30-year fixed mortgage—but with no PMI and no down payment, the total monthly payment often ends up being lower.

Spokane Neighborhoods That Make Sense for Medical Professionals

With a typical budget range of $600K–$1.6M, Spokane offers a number of attractive, well-located communities that cater to the professional lifestyle.

Rockwood / High Drive (South Hill)

A favorite among physicians for good reason: classic architecture, beautiful tree-lined streets, and just minutes from Sacred Heart and Deaconess hospitals. Walkable to parks, restaurants, and coffee shops.

Upper South Hill

Newer construction options from builders like Paras Homes, including Trickle Creek and Glennaire Estates. Easy access to 57th Avenue, with a mix of quiet luxury and modern layouts.

Latah Valley / Hangman Hills

If space and privacy are a priority, this area offers large estate-style homes, acreage, and quick access to Hwy 195—ideal for reaching the medical district within 15–20 minutes.

River Run (West Spokane)

Tucked beside the Spokane River, this neighborhood offers luxury homes, river views, and direct access to bike trails and green space. Great proximity to Indian Canyon Golf Course and the airport.

Five Mile Prairie

New construction, quiet streets, excellent schools, and sweeping views. Some properties offer modern layouts, custom finishes, and family-friendly neighborhoods.

Liberty Lake / Legacy Ridge

A polished, suburban feel with upscale homes, top-rated schools, and Ridgeline High School. Especially appealing for those commuting to Valley-based medical facilities or MultiCare.

A Smart First Step

Whether you're relocating from across the country or just finishing residency nearby, the key is starting early. Many doctors are surprised to learn they can qualify to buy before even starting their new role—sometimes with just an offer letter in hand.

The process can be seamless with the right team, a strong loan product, and a game plan that fits your timeline and financial picture.