Utah physician loan requirements at a glance

These are published program limits. They are not a promise that every limit can be combined. Ask for the current eligibility matrix for your exact loan amount, credit score and home.

• Profession: At least one borrower must have a designation listed for the chosen program. The lists differ.
• Credit score: Published minimums are 680 for Teal and 700 for Pink and Silver. A lender may require more.
• Loan amount: Published caps are $2 million for Teal, $3 million for Pink and $2 million for Silver.
• Down payment: Teal and Silver list up to 100% loan-to-value (LTV). Pink lists up to 97% LTV. Actual down payment depends on the full loan matrix.
• Mortgage insurance: The public summaries say mortgage insurance is not required. Closing costs and reserves may still apply.
• Occupancy: Teal and Silver are listed for primary homes. Pink is listed for primary homes and second homes.
• Debt-to-income (DTI): Published limits go up to 50%. Teal has a 45% cap for ARMs, 15-year loans, or LTV above 95%.

Underwriting also checks income, assets, the property, state rules and other factors. The public summaries do not show every reserve rule, loan-size tier or property limit. Get the current rules in writing before relying on a maximum.

Documents for a Utah physician mortgage review

Utah physician loan requirements depend on your job and income. These documents can help start a review:

• Government-issued identification.
• Recent pay statements and W-2s, if employed.
• A signed offer or employment contract if your job has not started.
• Recent bank, brokerage and retirement account statements.
• A student-loan statement with balance, payment and repayment status.
• Statements for other monthly debts, if applicable.
• A purchase contract and property details, once available.
• For self-employed borrowers, tax and business records requested by underwriting.
• Proof of degree, license or professional designation, if requested.

This is a preparation list, not a final checklist. Use a secure channel for financial documents and verify the recipient before sending them.

Utah physician loan requirements: eligibility FAQs

Which healthcare professions may qualify?

All three published lists include MDs, DOs, dentists, ophthalmologists, psychiatrists, pharmacists, veterinarians and podiatrists. Pink also lists optometrists, physician assistants, nurse practitioners, registered nurses, clinical nurse specialists, chiropractors and CRNAs without an added DNAP/DNP condition. Silver lists optometrists, PAs, NPs and CRNAs with a DNAP or DNP. Teal lists CRNAs with a DNAP or DNP. An omitted profession should be checked directly; “not listed” is not a final underwriting decision.

Can residents, fellows or interns qualify?

The public summaries include residents, fellows and interns who hold a listed degree. They do not explain every rule for future employment. Ask about the accepted start date, contract wording and income documents.

Can nurses or physician assistants qualify?

Pink lists registered nurses and clinical nurse specialists. Pink and Silver list physician assistants and nurse practitioners. These designations are not listed for Teal. The full file still needs review.

Does every borrower need to be a doctor?

At least one borrower must have an eligible designation. Other borrowers must meet the chosen program rules. Teal also limits non-occupant co-borrower income to 50% of total qualifying income.

Down payment, student debt and rates

Can I buy a home with no down payment?

Possibly. Teal and Silver list up to 100% LTV for eligible cases. That does not mean every buyer or loan size qualifies. Pink lists up to 97% LTV, which implies at least 3% down at that limit. Closing costs and reserves are separate.

Is mortgage insurance required?

The published summaries say it is not required. Ask for a full payment and fee breakdown. No mortgage insurance does not remove closing costs or the risk of borrowing a larger share of the home value.

How do these programs count student loans?

Teal describes more flexible student-loan calculations. Payments in deferment or forbearance may be excluded for borrowers in residency or fellowship. This is conditional. It does not mean all borrowers can leave student debt out. Ask for a written calculation for your repayment plan.

Can I combine the minimum score, maximum loan and maximum LTV?

Not based on the public summary alone. Each is a separate published limit. Ask for the matrix tier that fits your score, loan amount, LTV and occupancy.

What rate and payment should I expect?

Rates change and depend on the borrower and property. A public example dated October 8, 2026 showed a $400,000, 30-year fixed loan at 8.500% with an 8.777% APR. The example listed $3,075.65 monthly principal and interest and $10,000 in estimated finance charges. It excluded taxes and homeowners insurance. It is not a live quote for October 22. Check current Utah mortgage rates and request an updated Loan Estimate.

Property, refinancing and next steps

Can I use the loan for a second home?

Pink lists primary homes and second homes. Teal and Silver list primary homes only. Confirm the property type, location and pricing before making an offer.

Can I refinance?

Teal is listed for purchases and rate-and-term refinances. The public summaries do not give the same detail for Pink and Silver or confirm cash-out eligibility. Ask about the permitted refinance type and rules.

Are condos or multi-unit homes eligible?

The summaries do not show a full property list. Ask about condos, manufactured homes and two-to-four-unit properties for the address you are considering.

How much money must I keep in reserves?

The public summaries do not state a complete reserve schedule. Ask how many months are needed and which accounts count.

What should I ask the broker to confirm?

Ask for written answers about profession, credit overlays, LTV by loan size, reserves, future employment, self-employed income, student debt, property type, refinance options, state rules, fees and rate-lock terms.

Read the Utah physician mortgage guide, learn about mortgage pre-approval, or call 801-604-4949. You can also apply online.