About to graduate medical school, weighing options for mortgage/physician loans and would like advice

Thank you very much for your response!
To your main points, I do have debt in the form of student loans. Our plan is to live off his income (what we are currently doing) and use my new income solely to pay them off (will take 2-3 years).
We do not have the emergency fund. He has a substantial amount in his 401k, though we would never want to pull from that. We are also very fortunate to have family on both sides that would be supportive if we ever needed help. However, I completely see your point here in needing an emergency fund.
We have enough for 5% down on a $300k house. I know there are other traditional mortgages for first-time home buyers that require only 3-3.5%, but those have PMI. The physician loans all have no PMI and do not take into account student loan debt.
Our combined income will be >$150, so we are looking for a home around $250k.
The only "rush" we have here is that I won't have any time to look for a home or move once starting residency and working 6 days/wk. Also, if we wait 1 year, then we will only be in the house for 4 years and at that point it wouldn't make sense to buy a home. We have been together for 6 years now and feel like we have wasted our money with renting homes and would really like to finally move forward to this next step, but we are trying to remain grounded and objective.

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