Most physicians assume qualifying for a mortgage is straightforward; after all, you're highly educated, creditworthy, and well-compensated. But buying a home as a doctor comes with hidden pitfalls that can leave you paying way more than you should, getting rejected unexpectedly, or locking in a rate you'll regret.

Many don't realize that standard mortgage rules aren't designed for your unique career arc, training debt, or 1099 income, leading to confusion and frustration in an already stressful process.

Today, we get into those problems head-on with mortgage expert Josh Mettle, who explains why physicians are often at a disadvantage in conventional lending and what mistakes cost them thousands.

We unpack the difference between negotiating price vs. concessions, strategies for buying down high interest rates, and how to safely navigate adjustable-rate or "stepped" loans without getting burned. Josh also sheds light on the challenges self-employed or partnership-track doctors face, and what to do about it.

Josh offers concrete solutions that go far beyond "find a physician loan." He and his team specialize in helping doctors across nearly every state understand their true options, run custom analyses, and move quickly in competitive markets.

By the end of this conversation, you'll know what questions to ask, what traps to avoid, and how to set yourself up for financial security, not surprise headaches, when buying your next home. If you're serious about making the smartest move possible, this episode is your blueprint.

Looking for help with Disability Insurance, Physician Banking, Student Loan Refinancing, Physician Mortgages, Contract Reviews, and more? Check out our "Best of the Best" sponsors page to find a list of the professionals Chad & Tyler team up with for their clients.

You will want to hear this episode if you are interested in...

• (00:00) Intro.
• (01:00) Why elevated rates aren't a 30-year problem and how to negotiate seller concessions.
• (08:50) Risks and downsides of stepped or subsidized mortgage payment strategies.
• (17:10) Solving self-employed and 1099 income challenges for physician borrowers.
• (23:00) Physician mortgage 101: what it is and how it really works.
• (26:30) Fake physician mortgages and how to vet lenders.
• (33:40) Comparing physician loans to conventional loans with total cost analysis.

Why Physicians Need to Rethink the Mortgage Process

Buying a home as a physician isn't as straightforward as most people think. So many doctors assume they'll just walk in and get approved thanks to their income, only to run into problems unique to their field. Between student debt, training contracts, and even being self-employed or 1099, there are roadblocks that a typical lender won't understand.

That's why it's so important to have these conversations about negotiating smarter, anticipating payment changes, and understanding the real cost of a mortgage beyond the interest rate you see advertised.

Negotiating Smarter in a High-Interest Rate Market

Many clients are worried about buying at today's higher rates. The reality is, it's not a permanent 30-year sentence. There are real strategies, like negotiating seller concessions to buy down the rate temporarily, that can create meaningful monthly savings right when you need them most.

By understanding how to work with local market data and partner with a lender who knows these tactics, you can offset a lot of the pain of a high-rate environment.

But there is also the risk of stepping into payment plans that increase over time. You need to plan for the worst-case payment and make sure it still fits. It's like a built-in stress test for your budget.

If you're not comfortable with that future payment, it's better to know now than get squeezed later. This approach isn't about gambling on rates falling; it's about making sure you have a safe, predictable plan no matter what happens in the market.

How to Choose the Right Mortgage Strategy for Your Situation

It's not enough to just hear "physician loan" and assume it's the best option. That name alone doesn't guarantee a good deal. Always compare the physician mortgage terms with conventional options, analyzing total costs over time, making sure they're leaving room for savings, student loans, and life expenses.

It's also critical to vet your lender carefully, look at reviews, ask for referrals, and make sure they know physician-specific pitfalls. When you get that right, you're not just buying a house, you're securing your overall financial plan.

The best of the best list is a paid sponsorship, but these are professionals/companies that Tyler and Chad collaborate with within their own practices or have been vetted to earn a spot on this list. By supporting our sponsors, it allows Chad & Tyler to dedicate more time to you and the Physician Cents community. If you ever have a question (or not a great experience, which we don't expect!) about a sponsor, please let us know. We call it the "best of the best" for a reason, and we will maintain that standard for our listeners & viewers.

Resources & People Mentioned

• https://www.neohomeloans.com
• https://www.whitecoatinvestor.com
• https://www.bcuscaptial.com

Connect with Josh Mettle

• https://joshmettle.neohomeloans.com/

Connect With Physician Cents

• WealthKeel LLC
• Olson Consulting LLC
• Tyler Olson on Twitter
• Chad Chubb, CFP®, CSLP® on Twitter

Subscribe to Physician Cents

Apple Podcasts

Audio Production and Show Notes by - PODCAST FAST TRACK