Colorado Springs operates one of the most comprehensive regional healthcare systems in the Mountain West — a three-system ecosystem with very different institutional characters, all generating consistent physician homebuyer demand across every career stage.
UCHealth Memorial Hospital Central is the anchor of southern Colorado’s highest-acuity care: a 413-bed facility at 1400 East Boulder Street, Level I Trauma Center (one of only four in the state of Colorado), and the only Comprehensive Stroke Center in southern Colorado. UCHealth Memorial offers advanced cancer care in affiliation with the University of Colorado Cancer Center — the state’s only NCI-designated Comprehensive Cancer Center. Founded in 1904, UCHealth Memorial’s total system — Central, North, and Grandview campuses across 536 beds — operates graduate medical education programs that train residents and fellows across multiple specialties in Colorado Springs.
CommonSpirit Penrose Hospital — founded in 1890 originally as a tuberculosis sanitarium, now a 364-bed Level II Trauma Center on North Nevada Avenue — is one of the oldest continuously operating hospitals in Colorado. Penrose specializes in cancer care at its dedicated Penrose Cancer Center, cardiac care, emergency trauma, and physical rehabilitation. Penrose is part of CommonSpirit’s broader Penrose-St. Francis Health Services system, which also operates St. Francis Hospital on East Boulder Street (Level III Trauma, Flight for Life Colorado air ambulance home base, Level IIIA NICU, 559 licensed beds across the system). CommonSpirit also operates six urgent care centers across the Colorado Springs metro.
Evans Army Community Hospital on Fort Carson — operated by the U.S. Army and serving active-duty personnel, their dependents, and TRICARE-eligible beneficiaries — represents an additional physician employment environment that generates both direct buyer demand from military physicians and referral relationships that affect the overall physician housing market in the city.
The physicians practicing and training across this ecosystem are buying homes in a market where a median price of approximately $447,000–$476,000 makes homeownership genuinely accessible compared to Denver and Boulder. The qualifying challenge is the same as everywhere else: student loan debt, resident or fellow income levels, and employment timelines that conventional underwriting is not designed to accommodate. Physician mortgage loans address all three. Ryan Lehrman, NMLS #235295, structures these programs for Colorado Springs physicians at every point in their career.
No PMI, regardless of down payment. On a $550,000 Briargate or Flying Horse home purchased with 5% down, conventional PMI adds hundreds of dollars per month. Physician mortgage programs eliminate PMI entirely on primary residence purchases.
Student loan debt treated favorably. Colorado Springs physicians carry medical school debt consistent with the national average — above $200,000. Under conventional underwriting, the full standard repayment monthly payment counts against DTI. Physician programs use the actual income-driven repayment (IBR/IDR) payment — often dramatically lower — or exclude student loans from DTI calculation entirely, meaningfully increasing the loan amount physicians can qualify for.
Employment contract qualifying. Residents and fellows who have signed an attending contract with UCHealth Memorial, Penrose, a CommonSpirit-affiliated practice, or any Colorado Springs medical group can qualify based on that contract and its stated compensation — even when the start date is up to 90 days away. This is the feature that makes physician loans functional for residents finishing training who need to buy before their attending income begins.
Low and no down payment options. 0–5% down on primary residences up to certain loan amounts, allowing physicians to preserve capital for student loan repayment, moving costs, and the significant other expenses that accompany the transition from training to practice.
Access to Colorado Springs' military healthcare network. Military physicians at Evans Army Community Hospital who are separating from active duty — and transitioning to VA healthcare, private practice, or UCHealth employment — are eligible for physician loan programs based on their post-service employment contracts. This is a Colorado Springs-specific opportunity that exists nowhere else at this volume.
No prepayment penalty. As attending income grows, the option to refinance or pay down principal without penalty ensures flexibility.
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, including NP, CRNA, CNM, CNS)
Residents and fellows in accredited programs
Primary residence purchases with 0–5% down, no PMI, and student loan debt treated at the IBR/IDR payment or excluded from DTI. Qualifying based on employment contract or current resident stipend for trainees. Available up to Boulder County’s conforming limit of $879,750, though most Boulder purchases will exceed this threshold and require a physician Jumbo structure. Applicable to all eligible designations above, including residents and fellows in BCH-affiliated GME programs.
The most commonly used program for Boulder physician buyers, given that most single-family purchases in the city require financing above $879,750. Physician Jumbo programs extend all of the specialty qualifying accommodations — no PMI, favorable student loan treatment, contract-based income, low down payment — to loan amounts of $1.5 million to $2 million and above. Attending physicians at BCH Foothills, sub-specialists establishing practices in Boulder, and department-level practitioners buying in Mapleton Hill, Chautauqua, or Table Mesa all access their home financing through this tier.
Physicians building a custom home in Boulder — in Pine Brook Hills, Gunbarrel, NoBo, or one of the surrounding communities such as Louisville, Superior, or Erie — can combine physician-specific qualifying criteria with the One-Time Close Construction single-closing structure. These programs work for residents or fellows who are building ahead of a transition to attending practice, as the contract-based income qualification extends to the construction phase.
construction-to-permanent single-close structure.
Physician loan specialist — not a generalist with a physician product buried in a rate sheet; this is a primary practice area with deep lender relationships and program-level knowledge
BCH and CU affiliation awareness — understands the qualifying profile of residents and fellows in BCH's GME programs and the CU School of Medicine's affiliated training environment
Boulder-specific jumbo physician programs — access to physician Jumbo products at the loan amounts Boulder's pricing actually requires, not programs capped at $1 million or $1.5 million that don't reach the city's typical transaction size
Student loan navigation — knows which programs offer the most favorable IBR/IDR treatment and which exclude student loans entirely from DTI for each specific qualifying situation
Contract-based qualifying experience — structures pre-approvals for residents and fellows based on executed attending contracts before the first paycheck arrives
Efficient and respectful of your time — physician schedules don't accommodate lengthy, disorganized mortgage processes; Ryan's consultation is focused, structured, and produces clear next steps
Ryan Lehrman, NMLS #235295
Professional status: Active license or enrollment in an accredited GME program for an eligible designation; residents and fellows qualify with program enrollment verification and residency contract
Employment documentation: Pay stubs and employment verification for employed attendings; executed contract or offer letter with start date, position title, and compensation for fellows and residents transitioning to attending roles (start dates up to 90 days out accepted)
Student loan treatment: IBR/IDR monthly payment used for DTI in most programs; some programs exclude student loans from DTI calculation entirely — lender-specific; Ryan identifies the most favorable treatment for each borrower's specific repayment structure
Down payment: 0% available in select programs up to certain loan amounts; 5–10% typical for physician Jumbo; 10–20% on higher physician Jumbo tiers depending on loan size and lender program
Consultation — Ryan reviews your training status or attending position, employment timeline, student loan balance and repayment plan, target neighborhood and price range, and identifies the right program and lender before you begin searching
Documentation assembly — medical license or GME enrollment verification, employment contract or offer letter, student loan statements with current IBR/IDR payment, and standard income and asset documentation organized for a clean pre-approval file
Pre-approval — lender-issued pre-approval letter at your target purchase price; in Boulder's competitive market, a real pre-approval letter — not a preliminary estimate — carries weight with listing agents in Mapleton Hill, Table Mesa, and every other neighborhood where inventory is limited and sellers are selective
Under contract — appraisal ordered, title opened; Ryan manages the file through underwriting and coordinates with listing agent and title company on timeline expectations
Closing — final conditions cleared; you take ownership of your Boulder home and begin the next chapter of your career and your life in one of the country's most distinctive medical and academic communities
Yes. Physician mortgage programs are specifically designed for trainees in accredited GME programs, and BCH Foothills Hospital's graduate medical education programs — offered in affiliation with the University of Colorado School of Medicine — qualify. Your current resident stipend serves as the documented income base, and your student loan balance is treated favorably under IBR/IDR payment methodology rather than standard repayment amounts. Required documentation includes your residency appointment letter or current contract, proof of medical degree or USMLE verification, and your current loan statements. You don't need to wait for attending income; the program is built for exactly where you are in your career right now.
Yes — and in Boulder, this is one of the most common physician loan scenarios Ryan structures. A $1.2 million purchase in Table Mesa with 5% down means a loan amount of approximately $1.14 million, which is above Boulder County's $879,750 conforming limit and therefore requires a physician Jumbo program. Ryan has access to physician Jumbo lenders who extend the specialty qualifying criteria — no PMI, favorable student loan treatment, employment contract qualifying — to loan amounts in the $1 to $2 million range. At $1.14 million with a 5% down payment, no PMI, and student loans calculated at IBR payment, the monthly payment for an early attending in a high-income specialty is very manageable. The initial consultation will confirm which specific program fits your income level, student loan balance, and credit profile.
Favorably. If your student loans are on an income-driven repayment plan under the Public Service Loan Forgiveness program, your current monthly IBR payment is the figure used for DTI calculation under most physician mortgage programs — which for many residents and fellows is a very small number relative to their outstanding balance. BCH Foothills Hospital qualifies as a 501(c)(3) nonprofit employer under PSLF guidelines, meaning physicians employed by BCH who meet service requirements may also be on track for forgiveness, which makes the low IBR payment both the qualifying figure and a legitimate long-term loan management strategy. Ryan understands how PSLF employment documentation interacts with physician loan qualifying and can structure the file to reflect your full financial situation accurately.
Ready to finance your Boulder 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.
