Miami’s physician employment landscape is anchored by one of the largest and most academically distinguished medical complexes in the United States. Jackson Memorial Hospital — the flagship of the Jackson Health System and the primary teaching hospital of the University of Miami Leonard M. Miller School of Medicine — is a 1,550-plus licensed-bed tertiary care institution operating the Ryder Trauma Center, the only adult and pediatric Level I trauma center in Miami-Dade County, and the Miami Transplant Institute, which performs the highest volume of solid organ transplants in the country. At any given time, more than 1,100 residents and fellows are training across more than 100 specialty programs within the Jackson Health System. The 67-acre University of Miami and Jackson Memorial Hospital complex in Miami’s Health District is one of the largest medical campuses in the United States, comprising more than 35 buildings and 2,000-plus staffed hospital beds.
Beyond Jackson, Baptist Health South Florida — whose system includes Baptist Hospital, Miami Cardiac & Vascular Institute, Miami Cancer Institute, and Miami Neuroscience Institute — is among the highest-revenue health systems in the region, with Baptist Hospital having held Magnet designation for Nursing Excellence through six consecutive certifications, a distinction fewer than 1% of U.S. hospitals achieve. The UM Health system and Sylvester Comprehensive Cancer Center add further academic medical depth to Miami’s physician employment market. Nicklaus Children’s Hospital serves pediatric subspecialties. The VA Medical Center on the Jackson campus serves veterans and trains additional residents.
Physicians recruited to this environment come from top programs across the country. They arrive with the financial profile that medical training creates: substantial student loan debt, new employment contracts that begin before the first paycheck, and earning capacity that far exceeds what their most recent tax returns show. Miami’s price structure — where quality single-family homes in physician-preferred neighborhoods like Pinecrest, Palmetto Bay, Coral Gables, and Coconut Grove begin at $1 million and rise quickly — means that without a physician-specific mortgage program, the home that fits the career can feel out of reach at the moment of arrival.
Ryan Lehrman, NMLS #235295, structures physician mortgage loans for Miami’s medical community — from residents matching to Jackson Memorial programs to fellowship-trained specialists joining private practice groups across Miami-Dade County.
No Private Mortgage Insurance (PMI) — Standard loans below 20% down require PMI. On a $1.2 million home in Pinecrest — a reasonable starting point for a physician family — PMI at standard rates adds $500 to $700 per month to the payment. Physician loans eliminate PMI regardless of down payment, preserving meaningful cash that can be directed to relocation costs, student loan payments, or establishing financial reserves in a new city.
Flexible Down Payment Options — Most physician loan programs allow 0% to 10% down depending on loan amount and program tier, without PMI. A physician purchasing a $1.5 million Coral Gables home with 10% down preserves $135,000 in liquidity — a significant consideration for someone who has not had years of employment to build savings.
Student Loan Flexibility — Medical school debt in the range of $200,000 to $400,000 is common among Miami's physician population. Standard mortgage underwriting treats student loan obligations at 1% of balance per month in the debt-to-income calculation — which for a $350,000 balance adds $3,500 per month to DTI, potentially disqualifying the borrower from any meaningful Miami purchase. Physician programs treat IBR and deferred student loan payments at the actual IBR amount, often dramatically improving qualifying ratios.
Contract-Based Income Verification — Physicians joining Jackson Memorial programs, private specialty groups, or Baptist Health-affiliated practices can qualify using their executed employment contract before their first paycheck. The signed offer letter, start date, and compensation structure are the qualifying documents — not two years of tax returns showing residency stipend income.
Jumbo Physician Programs — Given Miami's pricing, nearly every physician purchase in a desirable neighborhood requires Jumbo financing. Physician Jumbo programs extend the benefit structure — no PMI, student loan flexibility, contract income — to loan amounts of $2 million and beyond, making physician lending genuinely useful in Miami's market rather than nominally available.
Specialty-Specific Structures — Not all physician loan programs cover every credential, and program terms vary by lender. Ryan identifies the specific program that fits your credential, your loan amount, and your income documentation before any application is submitted.
MD (Doctor of Medicine)
DO (Doctor of Osteopathic Medicine)
DDS (Doctor of Dental Surgery)
DMD (Doctor of Dental Medicine)
DVM (Doctor of Veterinary Medicine)
OD (Doctor of Optometry)
DPM (Doctor of Podiatric Medicine)
PharmD (Doctor of Pharmacy)
PA-C (Physician Assistant — Certified)
APRN (Advanced Practice Registered Nurse)
Residents and Fellows (including those matching to Jackson Memorial, Holtz Children's, and affiliated programs)
For physicians purchasing in Miami-Dade’s family-oriented residential communities — Pinecrest ($1 million to $3 million active price band), Palmetto Bay (appreciating steadily with average price per square foot near $456 in 2025), South Miami, Kendall, and entry-level Coral Gables. These are communities where physicians who are starting families, building practices, or arriving from other states establish their primary Miami residence. No PMI, IBR student loan treatment, contract income verification, and flexible down payment make this the standard program for Jackson Memorial residents and fellows transitioning to attending positions across the Miami-Dade system.
For attending physicians, department heads, and senior specialists purchasing in Coral Gables, Coconut Grove, Brickell, Edgewater, or any other Miami-Dade neighborhood where the target home price exceeds $1.5 million. Physician Jumbo extends the benefit structure of the standard program to higher loan amounts — applicable to the full spectrum of Miami’s upper-tier residential market. Physicians in cardiac surgery, orthopedics, neurosurgery, and other high-compensation specialties who are purchasing their permanent Miami residence at the $2 million to $4 million level have options that do not require them to meet standard Jumbo income documentation hurdles.
For physicians who want to build a custom home in Miami rather than purchase from the limited resale inventory. Custom builds in Coral Gables start near $6 million. New construction townhomes in Coconut Grove and adjacent neighborhoods are active in the $1.5 million to $3 million range. A physician arriving in Miami with a signed contract, a preferred lot or parcel, and a builder relationship can use Physician One-Time Close Construction to begin building concurrent with their employment start — with no second closing and a permanent rate locked from day one.
Specific expertise in physician mortgage programs available in Miami-Dade County
Jumbo physician programs for Coral Gables, Coconut Grove, and Miami's upper-tier neighborhoods
Direct experience with Jackson Memorial resident and fellow financing timelines and contract structures
Student loan IBR treatment that reflects the reality of physician medical debt in Miami's market
Physician One-Time Close Construction for buyers building in Coral Gables, Coconut Grove, and surrounding communities
Communication designed for physicians with demanding hospital schedules
Ryan Lehrman, NMLS #235295
Professional Credential: MD, DO, DDS, DMD, DVM, OD, DPM, PharmD, PA-C, APRN, and residents and fellows in accredited programs, including Jackson Memorial's more than 100 specialty training programs. Confirm specific program eligibility at the time of consultation.
Employment and Income: Fully executed employment contract with defined start date and compensation. Residents and fellows qualify on current position or signed forthcoming contract. New attending physicians qualify using contract income before the first paycheck appears on a pay stub or tax return.
Student loan treatment: IBR and deferred student loan payments treated at the actual IBR payment amount, not at 1% of balance. Physicians with large balances from MD/DO programs at UM Miller School of Medicine, University of Florida, or out-of-state programs qualify under this treatment as a matter of course.
Credit: Minimum 700 for most programs. Thin credit from residency years is assessed contextually. Deferred payment patterns during training do not automatically create credit concerns.
Initial Consultation — A focused review of your position at Jackson Memorial, a private practice, or a Baptist Health-affiliated role; your compensation structure; student loan balances; and your target neighborhood and purchase price range in Miami.
Program Selection — Ryan identifies the physician program — standard, Jumbo, or Construction — that fits your credential, loan amount, and documentation structure.
Pre-Approval — A fully underwritten pre-approval based on your employment contract and financial profile. In Miami's competitive physician-preferred neighborhoods, this is the document that gets offers taken seriously.
Property Search and Application — Once you identify a property and execute a purchase agreement, the full loan application proceeds on the pre-approved framework. The pre-approval is not a starting point for underwriting — it is a near-final document with conditions tied to the specific property.
Underwriting and Close — Physician loan underwriting is efficient when documentation is properly prepared. Ryan coordinates the timeline to close within the terms of your purchase contract.
Yes. Residents who have matched and signed their residency contract can qualify for a physician mortgage using that contract as income verification. You do not need to wait for your first paycheck, and your residency stipend income does not need to cover the full purchase price — the physician loan program is designed to evaluate your career trajectory, not just your current income level. Many residents use this window between match and start date to identify and purchase a home so they are settled when training begins.
Standard repayment plans typically have monthly payments that are higher than IBR amounts but lower than the 1% of balance figure used by conventional underwriting. Most physician loan programs use the actual documented monthly payment — whether IBR, standard, or graduated — rather than the 1% calculation. If your documented monthly payment is $2,800 on a $350,000 balance, that $2,800 is what goes into your DTI calculation, not $3,500. The difference can meaningfully affect what purchase price you qualify for in Miami's market.
A $2.5 million purchase with 10% down requires a $2.25 million loan — well within the Physician Jumbo tier. Your attending physician salary, plus any bonus structure in your Baptist Health contract, qualifies as contract income from day one. Your student loan balance is treated at the IBR or documented payment amount rather than 1% of balance. No PMI applies regardless of your down payment. The specific program terms — fixed versus adjustable rate, reserve requirements, and down payment flexibility — are identified in the consultation based on your full financial picture.
Ready to finance your Miami home with a program designed for your career? Let’s talk through your situation.
Originally from Harrisburg, Pennsylvania, I moved to Phoenix to attend Arizona State University and have proudly called Phoenix home ever since.
My journey into the mortgage industry began with a friend’s encouragement, who saw how my energy and people-first mindset could make a difference. He was right — I found my calling.
I’ve always embraced what makes me different. With ADHD as my secret weapon, I thrive in fast-paced, detail-heavy environments. I’ve built my career on clear communication, creative problem-solving, and putting clients first, always.
Outside of work, my greatest motivation is my wife and three amazing kids. I’d be honored to help guide you through your lending journey with care, clarity, and commitment.
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