Buying in Florida before the first paycheque
Program and regulatory figures verified October 5, 2026. Details change; confirm your scenario with us.
Most sites in this category tell every trainee to buy. In Florida right now that would be bad advice for a meaningful number of them.
The training picture
Florida carries 800 ACGME-accredited programmes and 9,400 active residents and fellows — 5.8% and 5.6% of the national totals.
Density sits below the national average on both measures: 3.42 programmes per 100,000 against 4.01, and 40.22 residents per 100,000 against 48.67. Still, Florida's programme density is the highest of the three states we built this round, ahead of California's 3.23 and Texas's 2.98.
The window, if you buy
| Route | How far before income starts |
|---|---|
| Physician programme | 150 days |
| Conventional | 90 days — Fannie Mae B3-3.3-03 |
Both from a signed employment contract. In Florida's 67-to-130 day markets the window is about moving once rather than winning a bid. How it works.
★ The question this site will not dodge
Should a Florida resident or fellow buy at all right now?
Every major Florida metro fell year over year to 2026-08-31, and every one sells slowly. A three-year residency in a market falling 1.5% to 4.4% a year, with 70 to 130 days to sell at the end of it, is a genuinely marginal case — especially financed at 100% with no equity cushion.
Honest positions:
- Staying in Florida after training, or a five-year-plus horizon? Buy. The programme exists for exactly this, and the current softness is a better entry than the last few years offered.
- Three-year residency, destination unknown? Rent, or buy only with a deposit and open eyes. We would rather say that than write a loan you regret.
- Have savings? Putting some down is a reasonable hedge here in a way it is not in a rising market. The comparison.
What your debt does meanwhile
It underwrites as it stands. A physician programme can use your documented income-driven payment; conventional counts 1% of the balance (Fannie Mae B3-6-05) and FHA 0.5% of a zero-payment balance (HUD 4000.1).
And FRAME cannot help a 2026 purchase — next cycle 2027, average physician award $63,821, primary care specialties only. The detail.
Where you are training
Miami · Tampa and Orlando · Jacksonville, which has had the mildest decline of the major metros at −0.5%.
Frequently asked questions
How many residents train in Florida?
9,400 active residents and fellows across 800 ACGME-accredited programmes, per the ACGME Data Resource Book for academic year 2024-2025. That is 40.22 residents per 100,000 population against 48.67 nationally.Should a Florida resident buy or rent?
It depends on the horizon. With every major Florida metro falling year over year and markets taking 67 to 130 days to sell, a three-year residency with an unknown destination afterwards is a marginal case, especially financed at 100%. Staying five years or more makes buying considerably more defensible.Can a resident buy before starting in Florida?
Yes. A physician programme can allow closing up to 150 days before the attending start date on a signed employment contract, against the 90 days Fannie Mae allows at B3-3.3-03.Mike Certo · NMLS #260555 · Cornerstone First Mortgage NMLS #173855 · Equal Housing Lender. Educational content, not a loan commitment and not legal, tax, or licensure advice. Physician-loan program terms, eligible degrees, and overlays are set by the lender and change; Florida FRAME award amounts, eligibility and application cycles change too. Confirm your scenario with us and your program administrator. All loans are subject to borrower and property qualification, including credit and income review.