The deep borehole heat exchanger (DBHE) is a vital part in medium-depth geothermal heat pump system (MD-GHPs). In comparison to other forms of heat exchangers, the DBHE has the following outstanding advantages: the small footprints, the little damage to rock as well as the high efficiency. However, numerous DBHE models were fixed variable values such as flow rate or inlet fluid temperature and there were few studies combining the user heating load variation with the temperature fluctuation on the DBHE side. In order to fill this gap, a DBHE heat transfer model with dynamic building heating load constraint is developed. In this heat transfer model, the load boundary condition is the hourly flow rate and the difference in inlet and outlet water temperature, and the outlet water temperature is obtained through iteration. In addition, this model is validated by a building space heating experiment data in Harbin and guaranteed its correctness. The average heat exchange per meter at the coldest heating moment also ensures the viability of MD-GHPs, which is 141.5 W/m. A series of typical coordinates are used to analyze the effect of DBHE on the surrounding rock, and the concept of DBHE recommended insulation length are proposed. One single DBHE with 2000 m burial depth possesses a temperature effect radius of 13.0 m for one heating period. Besides, some critical conclusions are as follows: For the structural parameter, the recommended insulation length is 178 m. For the operating parameter, there is a minimum value for the total power consumption and 18 m3·h−1 is the recommended optimal flow rate in this situation. For the geological parameter, raising the geothermal gradient can dramatically improve inlet fluid temperature (IFT) and outlet fluid temperature (OFT), and enhance the ability of DBHE to carry the building heating load. When maintaining the same IFT at the coldest moment, the geothermal gradient of 0.04℃·m−1 is 1.33 times more capable of carrying loads than the 0.03℃·m−1. This paper can provide basis for a series of DBHE thermal performance in practical space heating engineering applications of MD-GHPs.