Around 25 percent of medical doctors who own homes say their student debt made buying a home more difficult, according to a new survey by TD Bank. Of those that don't own a home but plan to buy one, one in six are worried that student debt will make the process more difficult.

TD Bank has unveiled a Medical Professional Mortgage Product, that’s designed to alleviate the issues by accounting for the unique challenges doctors who are in the early stages of their career face buying a home.

According to the survey, just under one in five medical professionals are aware of Medical Professional Mortgages, meaning they could be missing out on the opportunity to leverage a product that is tailored to their unique financial needs.

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Considering medical school loans and earning potential, TD's dedicated product helps address physicians' and dentists' pain points by helping applicants qualify for higher loan financing than standard mortgages, allowing them to use their money for investing or paying off student debt while still reaching their home ownership goals.

"Medical professionals dedicate their lives to caring for the health of our communities and in turn spend many years pursuing higher education and building up debt," said Rick Bechtel, head of residential lending at

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TD Bank. "We dedicate the same amount of care to designing products, such as TD Bank's new Medical Professional Mortgage, which alleviates some of the biggest challenges those in the medical field face following graduation and residency, such as large amounts of debt and a lack of earning history."

This competitive new offering, available in both fixed and adjustable rate options, provides the following features for practicing physicians and dentists, fellows and third-year residents:

• Applicants may secure 100 percent financing. This was among one of the most appealing features according to the survey, with 44 percent of respondents selecting this option.
• No private mortgage insurance is required, another appealing feature selected by 44 percent of respondents.
• Applicants may take out a maximum loan amount of up to $750,000 with 100 percent financing or up to $1,250,000 with only 5 percent down. Only 18 percent of respondents were aware that medical mortgage offerings offered loans up to $750,000, indicating a need for further education in this area.
• Applicants may have flexible debt-to-income ratios, depending on income.

Eligible borrowers of TD's Medical Professional Mortgage Product include licensed residents with a minimum of two years of completed residency and fellows; as well as practicing dentists and physicians and who are less than 10 years out of residency.