PHYSICIAN RELOCATION GUIDE | FINANCIAL PLANNING AND BUDGETING PHASE
Consider Physician-Specific Loans Many physicians qualify for tailored mortgage options—even with high student debt and little down payment. ⚕️ Physician Mortgage Features: Low or 0% down No PMI (Private Mortgage Insurance) Higher debt-to-income allowances Can close with signed employment contract 🧠 MD Match Tip: We’ve vetted lenders who specialize in working with physicians and understand your timeline. Ask us for an introduction—our partners offer fair, competitive terms. Don’t Forget the Transition Period It may take 60–90 days before your first paycheck lands. Build a short-term cushion to cover: Rent or mortgage
Final Tip: Think Long Game You’re not just relocating—you’re building a financial foundation for your future. Start (or grow) your emergency fund Maximize retirement contributions once income stabilizes Consider disability and life insurance for income protection Review your estate plan (especially if buying a home or having kids) 🌟 Whether you’re buying your first home, starting a family, or negotiating your contract— this move is a huge step. A solid financial plan keeps it exciting, not overwhelming.
💡 Strategy Spotlight: Smart Homebuying for Temporary Moves
If you’re relocating for a short-term training program (like residency or fellowship) or testing out a new role, consider purchasing a home that’s not just livable—but profitable. 🏡 Why it works: Physician loans can be used multiple times, as long as the home is your primary residence. Buying a property with short-term rental potential (near hospitals, universities, or vacation zones) can allow you to earn income once you move on. This gives you more flexibility if your job is uncertain—and a financial asset if plans change. 📎 Tip: Work with a realtor who understands physician needs and local zoning rules for short- term rentals.
Moving and utility costs Credit card minimums Groceries and gas Childcare or school tuition
If cash is tight, short-term physician loans or relocation stipends (sometimes provided by employers) can help fill the gap.
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