What Is A Physician Mortgage with Richard Ricci

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What is a physician mortgage? How does it compare to a conventional mortgage? Why is it important to work with a mortgage lender that you trust and that also knows his or her stuff?

In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks to Richard Ricci, a loan officer from Truist (formerly SunTrust Mortgage). Richard graduated with a business degree from the University of Florida and has made mortgage lending and quality of service his passion. Richard specializes in Truist’s industry leading Doctor Loan program. However, he is an expert in all types of mortgage loans, including conventional, VA, FHA, Jumbo, and new construction.

Topics Discussed:

  • UPDATE as of Jan 28th, 2021, Truist is currently back to their previous guideline of a max of 100% financing
  • Basics of Physician Mortgages: 
    • How qualification works
    • How credit scores play into loan requirements
    • Best practices when shopping for lenders and comparing rates
    • Differences between physician mortgages and conventional loans
  • What’s with mortgage rates? Lowest they’ve ever been—keep getting lower
  • Physician Loan Benefits: Lower down payment with no PMI
  • Debt-to-Income Ratio: Determines maximum loan amounts
  • Credit Scores: Depends on lender, but higher credit score, better interest rate
  • All that matters? Don’t be misled by lenders’ interest rates and closing costs 
  • Compare and Consider: APR and lender fees on good faith/loan estimate 
  • 15- vs. 30-Year Loan Options: Go with 30-year fixed rate, just in case 
  • Denied?! Gatekeeper cares, limits stress, and knows physician loan guidelines     


Richard Ricci – Truist Physician and Jumbo Loan Specialist (NMLSR #659699)

Richard Ricci’s Email

Richard Ricci on Facebook

Richard Ricci’s Phone: 855.501.6730

Richard Ricci’s Cell: 904.994.0847

Credit Karma


The Complete Guide To Physician Mortgage Loans (blog post by Daniel Wrenne)

Finance for Physicians