Every physician mortgage article in Canada quotes $185,000 and $225,000. Almost none of them say where the numbers come from or what the rules around them are. This page does: the schedule, the specialty chart, the eligibility rules and the source, with dates.
Under the leading Canadian physician projected-income program, PGY-1 and PGY-2 residents and fellows qualify on $185,000, PGY-3 and later on $225,000, and final-year trainees plus physicians within 36 months of finishing on a specialty chart from $225,000 (family medicine) to $379,000 (ophthalmology). The figure is used only when your actual income is lower, student debt still counts in your ratios, and the minimum down payment is 10%.
The stage is set by your year of postgraduate training, not your specialty, until the final year. Fellows follow the same ladder as residents.
| Stage | Who it covers | Projected income | Note |
|---|---|---|---|
| PGY-1 to PGY-2 | First and second year residents and fellows | $185,000 | Flat figure regardless of specialty. |
| PGY-3 and later | Third year and later residents and fellows | $225,000 | Flat figure regardless of specialty until the final year. |
| Final year, or within 36 months of completion | Final-year residents and fellows, and physicians newly in practice | Specialty chart | Specialty chart below. Unlisted specialties default to $225,000. |
| More than 36 months in practice | Established physicians | Actual income | Projected income no longer applies. Actual verified income is used. |
Pick your stage, add the debt the lender will count, and see the purchase price the ratios allow. No email, nothing saved.
Applies in the final year of residency or fellowship and for 36 months after completion. Three specialties sit above the $300,000 line, family medicine and anything unlisted sit at $225,000.
| Specialty | Projected income |
|---|---|
| Ophthalmology | $379,000 |
| Cardiology | $359,000 |
| Gastroenterology | $309,000 |
| Anesthesiology | $300,000 |
| Cardiovascular and Thoracic Surgery | $300,000 |
| Clinical Immunology and Allergy | $300,000 |
| Critical Care Medicine | $300,000 |
| Dermatology | $300,000 |
| Diagnostic Radiology | $300,000 |
| Emergency Medicine | $300,000 |
| Endocrinology and Metabolism | $300,000 |
| General Internal Medicine | $300,000 |
| General Surgery | $300,000 |
| Geriatric Medicine | $300,000 |
| Hematology | $300,000 |
| Medical Genetics | $300,000 |
| Medical Microbiology | $300,000 |
| Medical Oncology | $300,000 |
| Nephrology | $300,000 |
| Neurology | $300,000 |
| Neurosurgery | $300,000 |
| Nuclear Medicine | $300,000 |
| Obstetrics and Gynecology | $300,000 |
| Occupational Medicine | $300,000 |
| Orthopedic Surgery | $300,000 |
| Otolaryngology (ENT) | $300,000 |
| Pediatrics | $300,000 |
| Physical Medicine and Rehabilitation | $300,000 |
| Plastic Surgery | $300,000 |
| Psychiatry | $300,000 |
| Public Health | $300,000 |
| Radiation Oncology | $300,000 |
| Respirology | $300,000 |
| Rheumatology | $300,000 |
| Urology | $300,000 |
| Other listed specialty | $300,000 |
| Family Medicine | $225,000 |
| Unlisted specialty (default) | $225,000 |
A separate program, with lower figures and a shorter window. Insured purchases still allow 10% down with 5% from your own resources. Uninsured purchases need 20% down with 15% from your own resources, and lending drops to 65% of value unless actual income is at least a quarter of the projected figure.
| Profession | Projected income | Eligible when | Also |
|---|---|---|---|
| Dentistry (general and specialty) | $175,000 | Final year of a Canadian DDS program, or newly practising within 24 months | Uninsured purchases: 80% financing only if actual income is at least 25% of projected, otherwise 65%. |
| Veterinary medicine | $86,000 | Final year of a DVM program, or newly practising within 12 months | Same uninsured rule as dentistry. |
| Optometry | $96,000 | Final year at Waterloo or Universite de Montreal, or newly practising within 12 months | Graduates of other optometry schools are not eligible under this program. |
Prices and payment examples are estimates for planning only. Your actual numbers depend on income, down payment, debt, credit, location, and current lender pricing.