Best Physician Mortgage Loans in Texas

There are over 71,700 physicians living and working in Texas–some of whom purchased their homes with the home of a physician mortgage loan.

Texas continues to grow and attract physicians each year. It’s one of the most populated states in the country and home to more than 30,500,000 residents.

You have a variety of choices in housing in Texas from big, vibrant cities to football towns to rolling farmland. A physician loan can make it possible for you, whether you’re in the middle of your residency or well on your way as an attending physician.

The best advice is to begin working immediately with a loan officer who understands the challenges a physician faces–both with finances and limited amounts of time.

If you’re ready to make your dream of homeownership a reality, check out these lenders who offer some of the best physician mortgage loans in Texas.

14 Best Texas Physician Home Loan Lenders

Here are the top physician mortgage loan lenders in TX:

  1. BMO Bank
  2. Cadence Bank
  3. Citizens Bank
  4. Evolve Bank & Trust
  5. Extraco Bank
  6. First Financial Bank
  7. First Horizon Bank
  8. First National Bank of Omaha
  9. Flagstar Bank
  10. KeyBank
  11. Regions Bank
  12. Truist
  13. UMB Bank
  14. US Bank

Discover The Best Lenders in Texas

Answer just a few questions about your career, where you're buying, and how much you want to borrow. Our service will then show you the exact programs you're eligible for from vetted physician loan specialists who will guide you through every step of the process – obligation-free!

1. BMO Bank

  • BBB Grade: A+
  • JD Power Score: 805

BMO Bank’s Physicians’ Program offers three financing options in Texas:

  1. 100% financing up to $1 million
  2. 95% financing for $1 – $1.5 million
  3. 90% financing for $1.5 – $2 million

Medical doctors (MD), doctors of osteopathy (DO), and dentists (DMD and DDS) can put down 5% on doctor loan programs up to $1.5 million. Doctors can borrow as much as $2 million by putting 10% down.

One of the biggest advantages of BMO Bank’s physician loan is it doesn’t require income history as long as you can provide proof of future income through an employment contract or residency agreement that starts within 90 days of closing.

Borrowers can choose between fixed and adjustable-rate mortgages. Private mortgage insurance (PMI) is not required, which can save you thousands over the course of your loan.

This doctor loan program stipulates that it may only be used toward the purchase of your primary residence.

You can save as much as $500 on closing costs by opening a BMO Bank account and enrolling in Auto Pay for your monthly payments.

2. Cadence Bank

  • BBB Grade: B
  • JD Power Score: N/A

Cadence Bank’s mortgage loans for medical professionals make homeownership more accessible.

The bank offers several fixed and adjustable-rate mortgage programs. You can get prequalified through the website or work with one of Cadence Bank’s local loan officers to find the doctor loan program that fits your needs.

Borrowers can put a low down payment on jumbo loans and no down payment on loans up to $750,000. Cadence Bank offers several down payment options all of which don’t require PMI:

  • 0% down payment for loans up to $750,000
  • 5% down payment for loans up to $1,000,000
  • 10% down payment for loans up to $1,500,000
  • 15% down payment for loans up to $2,000,000
  • 20% down payment for loans up to $2,500,000

According to the loan program’s disclosures, this type of financing is only available for the purchase or refinancing of a primary residence.

3. Citizens Bank

  • BBB Grade: A+
  • JD Power Score: 818

Citizens Bank offers the Doctor Loan program. It provides 95% financing to licensed Doctors of Medicine (MD), Doctors of Osteopathic Medicine (DO), Doctors of Dental Surgery (DDS), and Doctors of Dental Medicine (DMD).

Doctors can borrow up to $1,000,000 with an 11% down payment. Licensed residents, fellows, and interns can borrow a maximum of $600,000.

Unlicensed medical professionals can borrow up to $400,000. All standard fixed and adjustable rate mortgage products are available.

Doctors must be within 10 years of graduating from medical school to qualify.

Student loans aren’t considered in debt-to-income ratio calculations if payments are deferred for 12 months or more.

4. Evolve Bank & Trust

  • BBB Grade: A+
  • JD Power Score: N/A

Evolve Bank & Trust provides specialized mortgage services to medical professionals with the following degrees:

  • Medical Doctors (MD)
  • Dentists (DMD)
  • Dental Surgeons (DDS)
  • Veterinarians (DVM)
  • Pharmacists (RPH)
  • Nurse Anesthetist
  • Nurse Practitioner (NP)
  • Physician’s Assistant (PA)
  • Optometrist (OD)
  • Chiropractor (DC)
  • Podiatrist (DPM)

Interns, residents, and other doctors relocating can close on their homes up to 90 days before starting their jobs as long as they can provide an employment contract.

Doctors can borrow:

  • Up to $1,000,000 with 100% financing
  • Up to $1,250,000 with 95% financing
  • Up to $1,500,000 with 90% financing
  • Up to $2,000,000 with 85% financing

Normally, when you put less than 20% down, you will be required to pay private mortgage insurance, but physician loans often waive that. Evolve Bank & Trust stays true to that standard.

5. Extraco Banks

  • BBB Grade: A+
  • JD Power Score: N/A

Extraco Banks provides 30-year fixed-rate mortgages and 7/1 adjustable-rate mortgages (ARMs) to Texas medical professionals with credit scores as low as 660.

These programs are designed to purchase single-family homes or land where you intend to build a single-family home.

All programs exclude PMI, which can help keep your monthly payments at an affordable threshold for your budget. In some cases, sellers may contribute up to 3% for closing costs.

Incoming residents can show an offer letter as proof of future employment.

Medical residents, medical doctors, and full-time medical instructors can qualify for up to $750,000,000 without a down payment. Putting 3% down allows doctors to borrow up to $1 million and 10% down secures up to $1.5 million.

6. First Financial Bank

  • BBB Grade: A+
  • JD Power Score: 819

First Financial Bank is one of a few banks to offer a full suite of loan products designed for medical professionals. Its tailored physician products include:

  • Auto Loans
  • Boat/Motorcycle/ATV Loans
  • Home Equity Line of Credit
  • Mortgage Loans
  • Home Improvement Loans
  • Bridge and Interim Construction Loans

Its expert bankers work with you to tailor a physician loan program that meets your unique needs.

First Financial Bank offers a few down payment options:

  • Up to $510,400 with no down payment
  • Up to $1,000,000 with a 5% down payment
  • 10% down payment on mortgages over $1,000,000

If 95% or more financing is provided, First Financial Bank will require a life assurance policy assigned to them. Like many physician loan programs, PMI is not required.

Its lenders will accept two years of tax returns, recent pay stubs, or an employment contract.

7. First Horizon Bank

  • BBB Grade: A+
  • JD Power Score: 825

First Horizon Bank provides up to $2.5 million in financing to MDs, DOs, OMSs, and DPMs. To qualify for 90% or more financing, medical professionals will need to have a credit score of 670 or higher.

Its website seems to be intentionally vague to encourage customers to talk to a relationship directly for more information.

8. First National Bank of Omaha

  • BBB Grade: A+
  • JD Power Score: 847

First National Bank of Omaha (FNBO) offers physician mortgage loans for the following degrees:

  • MD
  • DO
  • DDS
  • DMD
  • DVM
  • PA
  • NP
  • CRNA
  • CPA
  • CFA
  • JD

Borrowers will need a minimum credit score of 720.

A 5% down payment will be required on loans up to $1.25 million and 10% on loans up to $1.5 million.  The program’s maximum loan amount is $1.5 million, but 100% financing is only available for loans up to $850,000,000.

Loans may only be used to purchase single-family homes used as a primary residences.

FBNO’s highly qualified lenders will be able to explain all disclosures and loan terms to help you find a physician mortgage loan that fits your budget.

9. Flagstar Bank

  • BBB Grade: A+
  • JD Power Score: 781

Flagstar Bank’s Professional Loan program will fully finance purchases up to $1 million for borrowers with a FICO score of 720 or above. For loans up to $1.5 million, you can purchase a home for as little as 5% down.

Student loan debt is considered through the context of your income-driven repayment relative to your monthly income.

The Professional Loan program is available to MD, DDS, DMD, OD, PharmD, DPM, DO, PA, RN, NP, CPA, DVM, clinical nurse specialists, attorneys, and ATP pilots who are within 10 years of beginning their careers.

No PMI is required but all products appear to be adjustable-rate mortgages. With adjustable-rate mortgages, you’ll want to be prepared for your interest rate to rise and fall relative to the loan’s index.

10. KeyBank

  • BBB Grade: A+
  • JD Power Score: 794

When you choose KeyBank as your mortgage lender, its loan officers will provide personalized service. Interns, residents, fellows, doctors, dentists, clinical professors, researchers, and managing physicians with the following degrees are eligible for loans up to $3.5 million:

  • Doctor of Medicine (MD)
  • Doctor of Osteopathic Medicine (DO)
  • Doctor of Podiatric Medicine (DPM)
  • Doctor of Dental Surgery (DDS)
  • Doctor of Dental Medicine (DMD)

Fixed and variable interest rate products are available, neither of which tack on PMI to your monthly payment. Unlike many other physician loans,

KeyBank’s Medical Professional Mortgage can be used for the purchase of a second home. Loans may be used to purchase a home or refinance an existing property.

Properties must be attached or detached single-family residences, condos, or planned unit developments.

11. Regions Bank

  • BBB Grade: B+
  • JD Power Score: 829

Medical doctors, Doctors of osteopathy, and dentists qualify for Regions Bank’s Doctor Mortgage Program with 0% down on loans up to $750,000. All other loan amounts up to $1 million will require a 5% down payment.

Regions Bank works with the hectic schedule of medical professionals by allowing you to upload documents and track the underwriting process through its Loan Application Status Portal.

The bank will also make special credit allowances for doctors with deferred student loans. Like First Horizon Bank, Regions Bank will automatically open a checking account for borrowers, but they won’t monitor if you chose to close the account later.

12. Truist

  • BBB Grade: A+
  • JD Power Score: N/A

Truist’s physician mortgage loan program will provide up to $2 million to medical doctors, doctors of osteopathy, podiatrists, and dentists.

Medical professionals within 10 years of training can qualify with zero money down, but those within 10 to 15 years of training will need to put 10% down to qualify.

Green card and H1-B visa holders are also eligible, but these loans will require a 15% down payment.

Student loan debt will be considered, but the calculations are more lenient than conventional mortgage programs. Truist offers both fixed and variable-rate mortgages as well as biweekly payment options to pay down debt quicker.

13. UMB Bank

  • BBB Grade: A+
  • JD Power Score: 791

UMB Bank provides financing for the purchase of primary and secondary residences through its physician loan program. Dentists, medical doctors, doctors of osteopathy, dentists, optometrists, and pharmacists qualify for the physician loan program.

Attending physicians are eligible for down payment options from 0 to 5% while residents will need to put down at least 10%. Unlike many other physician loan programs, UMB Bank doesn’t have the stipulation that borrowers be within 10 years of medical school graduation.

UMB Bank’s physician loan program maximum loan amount is $2 million, but they offer first-time homebuyer assistance grants to help cover the cost of the down payment closing costs for borrowers who have exhausted their saving accounts.

14. US Bank

  • BBB Grade: B+
  • JD Power Score: 825

US Bank physician home loans can be used to purchase a new property, refinance an existing property, or home equity line of credit. Qualifying medical residents, fellows, doctors, and lawyers will need to have a 710 credit score or higher.

Borrowers who also open a platinum checking account are eligible for a credit of 0.25% of their loan amount up to $1,000, which can be used to defray closing costs. The maximum amount you can borrow through this program is $2.5 million.

US Bank may require you to have savings to cover up to 12 months of mortgage payments depending on your loan amount. The down payment structure is as follows. Borrows will need to put:

  • 5% down on loans up to $1 million
  • 10% down on loans up to $1.5 million
  • 15% on loans up to $ 2 million

Student loan debt is considered, but the underwriters use your actual income-driven repayment amount or 2% of the total loan balance if you’re in deferment.

How Physician Mortgage Loans Work in Texas

Mortgage servicing and origination are regulated by the Texas Department of Savings and Mortgage Lending. It outlines and enforces the Texas administrative and finance code, including licensing and registration for mortgage salespeople.

The conforming loan limit set by the Federal Housing Finance Agency was $647,200 in 2022. All physician loans exceeding this amount will be considered jumbo loans. Jumbo loans will often require homeowners to put down more money, show adequate savings, and have high credit scores, so it’s important to talk with your lender and look carefully at your finances.

Other than that, Texas physician mortgage loans work similarly to the rest of the country. If you’re planning to move to Texas for residency or to continue your medical career, a physician loan can help you secure permanent housing and put down roots in your community. Physician mortgage loans can also be used to refinance a home you already own.

Offering more relaxed requirements than conventional mortgages, they allow you to put zero money down, avoid paying PMI, and move into your home before you start working.

Physician mortgage loans also look at your student loan debt differently, sometimes ignoring it altogether if you’re in deferment. This type of loan program can work for medical doctors and healthcare workers who want to purchase homes but don’t meet the qualifications for conventional mortgages in Texas.

Pros and Cons

Considering the pros and cons of physician mortgage loans in Texas can help you make the best decision for your needs.


  • Buy before you move: Physician mortgage loans will often accept transcripts, offer letters, and employment contracts as proof of earning potential.
  • No PMI: Doctor mortgage programs don’t require private mortgage insurance, which can save you money on your mortgage payments.
  • Refinance: Physician loans can be used to refinance or cash out home equity if you need cash or lower monthly payments.
  • Debt-to-income ratio: Mortgage lenders are more lenient with debt-to-income ratios on doctor loans.


  • Jumbo loan: Most physician loan amounts exceed the cap set by the Federal Housing Finance Authority, which can lead to purchasing more house than you can afford.
  • Variable interest: A lot of physician loan programs have variable interest rates, meaning your loan payments can fluctuate over time.
  • Limited home equity: Purchasing a home with a low down payment doesn’t provide immediate equity.
  • Restrictions: Some doctor mortgage programs stipulate that loans can’t be used for condos, second homes, or investment properties.

Frequently Asked Questions

What credit score do you need for a physician loan in Texas?

You need a credit score of at least 700 to qualify for most physician loans in Texas. Unlike other mortgage options, physician loans don’t allow co-signers who don’t intend to maintain the property as their primary residence.

If you are interested in the home-buying process but you don’t meet the credit score requirement for physician loans, you can consider a VA loan or an FHA loan. Both these loan options have lower credit score requirements than physician loans in Texas.

Do physicians have a higher interest rate?

Yes, physician loans typically have a higher interest rate than conventional loans because they don’t require a down payment or private mortgage insurance.

If you select a physician loan program with an adjustable-rate mortgage, your interest rate can rise and fall over time. Fixed-rate mortgages will maintain the same interest rate for the lifespan of the loan.

What is the average physician loan interest rate?

The average physician loan interest rate changes with the state of the economy and the interest rates set by the Fed. In 2022, interest rates fluctuated from as long as 3% to more than 7%, so it’s difficult to say what the average physician interest rate will be in the months to come.

However, our recent study indicated that physician loans have a comparable interest rate to conventional jumbo loans.

What is the difference between a physician loan and a private student loan?

There are several differences between physician loans and private student loans. Most notably, physician loans are mortgages designed for licensed medical professionals to pursue homeownership and private student loans are used to pay for medical school education.

What are the requirements for a physician loan in Texas?

The requirements for a physician loan in Texas aren’t different from the requirements in other areas of the country.

In general, you’ll be asked to provide the following to be approved for a physician loan in Texas:

  • Proof of medical degree
  • Current debts, including student loans
  • Bank statements
  • Tax returns
  • Employment contract or medical school transcripts
  • Credit check, usually with a score of at least 700

Doctor mortgage loan programs will want to see a credit score of at least 700 and you’ll have to be within 10 years of graduating medical school to qualify.

Who is a Physician Loan in Texas Best For?

Physician loans are best for Texas doctors, medical residents, dentists, and other high earners who want to purchase homes but may not meet the qualifications for conventional loan options.

If you relate to any of the following experiences, you may want to consider a physician loan when you’re ready to begin the home-buying process.

International graduates with high student debt and minimal family support

International medical students often have to pay higher education costs and don’t have access to American financial aid programs, which can result in high student loan debt for students who don’t have financial support from their families.

Graduating with high student loan debt doesn’t have to exclude you from homeownership though. Physician mortgage loans will analyze your entire profile, including your future earning potential, so you own a home in the community near your hospital.

Primary care physicians or dentists who own a private practice

Private practice overhead costs can be very similar to the costs of running a business. As a result, self-employed physicians and dentists may have less money available to save for a down payment.

Purchasing a home with little to no down payment can allow these medical professionals to purchase their dream homes within 10 years of medical school graduation instead of delaying until they can meet the qualifications of a conventional mortgage.

An upcoming medical resident who had significant relocation costs

Medical residents have little control over where in the country they get to continue their training. As such, many students have to pay large sums to relocate their families, pets, cars, and personal effects.

Other professionals and families typically have the benefit of choosing where they live or living in the area for years before purchasing a home, so they may not have as many moving costs.

Because physician loans allow upcoming residents to use their employment contracts as proof of income, upcoming residents can purchase homes in the towns where they’re completing their residency before they start their jobs.

Moving to a Different State?

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