The five bank programs, compared.
| Lender | Strongest for | Notable strength |
|---|---|---|
| Scotiabank | Residents, fellows | Largest physician PLOC; strong projected-income qualification |
| RBC | Salaried attendings | PLOC + mortgage bundled; clean salaried files |
| TD | Rate-sensitive attendings | Competitive rates; projected income accepted |
| CIBC | Combined banking | Residency and attending paths; personal + medical banking |
| National Bank | Quebec, incorporated | Handles personal and corporate income paths cleanly |
Where each program is strongest.
When a monoline beats the banks.
For incorporated attendings and complex income structures, a monoline lender frequently beats every bank program on both qualification and rate. These lenders do not offer a PLOC, but they often read corporate income more generously.
How to actually choose.
The mistake is picking a lender by brand. The right move is to match the program to the file: a fellow with a signed offer, an incorporated radiologist, and a locum emergency physician each have a different best lender. A broker who works physician files submits to the one that fits, instead of forcing your file into whichever bank you already have a chequing account with.
Frequently asked questions.
Which bank has the best physician mortgage in Canada?01
There is no single best. Scotiabank runs the largest physician PLOC program and is strong for residents and fellows; RBC suits salaried attendings; TD is rate-competitive; National Bank is strong in Quebec and for incorporated physicians. The best program depends on your specific file.
Does Scotiabank or RBC have a better physician program?02
Scotiabank generally has the larger PLOC program and stronger projected-income qualification for residents and fellows. RBC is often the better fit for salaried attendings who want PLOC and mortgage bundled. Both are strong; the right one depends on your stage and income structure.
Can a mortgage broker access bank physician programs?03
A broker accesses physician-friendly lenders across the market, including monoline lenders like MCAP, First National, and Strive that often beat the banks on incorporated and complex files. Some bank physician programs are accessed directly; a broker helps you compare across all of them.
Are monoline lenders good for physicians?04
Yes, especially for incorporated attendings and complex income. Monolines like MCAP, First National, and Strive often read corporate income more generously and price competitively, though they do not offer a physician line of credit.