Public rates are only the starting line for doctors.

Physician pricing depends on your file, not only the public rate sheet. Here is how it is set, what to compare, and what a better rate is worth on your balance.

5.25%Minimum stress test rate

+2%Or your contract rate plus 2%

20% downWhere insured pricing ends

A lower posted rate is not automatically the better mortgage.

Physician pricing depends on career stage, down payment, line of credit, incorporation, how your income is documented, the property, and whether your file belongs in a bank physician program, a broker-channel lender or a private banking relationship.

Residents and fellowsProjected income matters more than today’s stipend. The right lender may qualify you on a signed future contract, while another may only use current income.

AttendingsThe best rate depends on income stability, debt, down payment, amortization, and whether a physician program or broker-channel lender has the cleaner approval.

Incorporated physiciansA low rate is no use if the lender cannot read corporate income properly. T4, dividends, retained earnings and corporate tax documents change the answer.

Private bankingHigh-income or high-asset physicians may have a separate pricing path. Compare that quote against broker-channel rates before signing.

What decides your rate.

Career stageAttending physicians and incorporated specialists are usually priced more sharply than residents.

Lender choiceBank physician programs and broker-channel lenders price differently, and incorporated files are handled differently again.

Your profileCredit score, how your income is structured, your debt and where your down payment comes from all feed into the rate you are quoted.

The deal itselfLoan-to-value, amortization, the property and whether the mortgage is bundled with other products all move the quote.

Insured, insurable or conventionalUnder 20% down the mortgage is insured. With 20% or more, a purchase under $1,000,000 on a 25-year amortization or less can be insurable. Everything else, including rentals and larger balances, is conventional. Each category is priced on its own sheet.

What to compare besides the rate.

The penalty to break earlyUsually the higher of three months’ interest or the interest rate differential on a fixed rate. How the lender calculates the differential can change the cost a great deal.

Prepayment privilegesHow much you can pay down each year without a penalty, and whether you can raise your payment.

PortabilityWhether you can move the mortgage to a new home if you relocate for fellowship or practice.

Standard or collateral chargeA collateral charge can secure other borrowing and can make switching at renewal harder and costlier.

The stress test rateYou qualify at the higher of your contract rate plus 2% or 5.25%, so a lower rate also raises what you can borrow.

What a better rate is worth.

Balance at renewalYour lender’s offer (%)A better rate (%)Years left to pay it off

Term

Over a 5-year term you would save

in interest, and pay $131 less every month.

Interest at the lender’s offer 4.49%$0

Interest at the better rate 4.24%$0

Interest charged over the term, with the regular payment for the years left to pay it off. Switching at maturity carries no prepayment penalty.

Get started Grade my mortgage

A separate pricing tier for high-earning attendings.

High-earning attending physicians, often with household income above $500,000 or investable assets above $1 million, may qualify for private banking relationships. Private banking mortgage pricing sits outside public rate sheets. Rates are negotiated per client and can be better than ordinary public pricing, with access to structured lending a retail branch may not offer.

It is worth exploring when complex borrowing, investment property portfolios or corporate holding companies are part of the picture. Not every physician benefits, but those who qualify should compare a private banking quote against broker-channel numbers.

The live rate table is unavailable right now.

When current, verified rate-sheet data is available, this page shows a filtered report for physician-relevant lenders. When the feed is unavailable, we do not publish stale lender tables or pretend the numbers are current.

For a real quote, use the mortgage review. The answer depends on your exact file, not only the public rate sheet.

Review my mortgage

More on physician rates.

Do physicians get better rates?

Comparing physician mortgage programs

The stress test, for physicians

Mortgage insurance on a physician mortgage

Renewing your mortgage

Incorporated physicians

Fixed vs variable

Mortgage glossary

Compare with the tools.

See all physician tools

Grade my mortgageYour rate, payment and penalty against today’s physician rates

Fixed vs variableBank of Canada scenarios

Penalty calculatorWhat it costs to break your mortgage early

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Jeff, Emily, Taylor and Craig

Mortgage agents and brokers
Ontario, BC and Alberta

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experts@physicianfinancing.ca 416-628-9682

Jeff Mudrick, Lic. #M21001275Emily Mudrick, Lic. #M26000497BRX Mortgage Inc., Lic. #13463Taylor Atkinson, Licence #MB600364Craig Austin, Lic. #M19001164, Tango Ontario, FSRA #13691