Last updated October 28, 2026
Start with the rule your financial advisor gave you, not the listing. Enter your numbers and your strategy, and see the price it allows, which areas near your hospital fit, how much stays invested instead of going into a down payment, and your net worth if you buy versus rent. Built on 2026 St. Louis sales.
Both paths start with the same cash. Renting keeps it all invested; buying puts some into the house and invests whatever is left, plus any monthly savings. Home equity is counted after selling costs.
| Year | Buy | Rent and invest | Difference |
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It depends on the rule your advisor uses, not the lender’s maximum. Under the common 2× income rule, a household earning $300,000 can borrow about $600,000, about a $631,000 price with 5% down. A 50/30/20 budget with $16,500 in monthly take-home pay, $2,500 in other needs and a $1,500 student loan payment lands closer to $522,000. A new attending who keeps spending near resident levels for a few years buys less. If you own your practice or take 1099 pay, start from what your tax returns show, not your gross. Run your returns through the self-employed calculator →
Add principal and interest on the loan to property tax, insurance and upkeep. On a $631,579 house with 5% down at 6.75%, principal and interest is about $3,892 a month; with property taxes near the hospitals, insurance and upkeep, the total is about $5,143.
It doesn’t make the house cheaper; it keeps cash invested. On a $631,579 house, putting 5% down instead of 20% leaves about $94,700 in your portfolio, in exchange for a bigger loan and sometimes a slightly higher rate.
Keep the mortgage at or below twice your gross household income. At $300,000, that’s a $600,000 loan, which supports about a $631,000 price with 5% down. It’s a guideline many physician-focused planners use, not a lender limit.
Half of take-home pay covers needs, including housing and minimum loan payments; 30% goes to saving and investing; 20% to wants or extra debt payments. Housing gets whatever is left of the 50% after your other needs and student loan payment.
It depends on your loan rate, any forgiveness you qualify for and how long you’ll stay, so settle it with your advisor. Most physician financial plans build a cash reserve and clear high-interest debt first. The tool lets you pick: invest while paying the minimums, split extra cash 50/50, or pay the loans off and rent until they’re gone.