Purchasing a new home in Missouri is an exciting – yet overwhelming – adventure. A doctor home loan in Missouri can help make the financing (or refinancing) process run as smoothly as possible. Whether it’s a move to be closer to the family, or your medical career that brings you to the Show-Me State, you’ll join over 20,000 who currently practice in Missouri.
Missouri remains the Gateway to the West and happens to be one of the most populated states in the Midwest. There are over 6.1M residents who call Missouri home, with steady growth over the last several years. Missouri has more to offer its residents than professional sports teams and BBQ competitions. It’s a state full of variety – both in living spaces and healthcare options.
Recommended Lenders for Doctor Home Loans in Missouri
Whether it’s your first home, a refinancing project or looking for the next home upgrade, Doug is focused on making a real and lasting difference. That’s why he takes the time to understand each of his clients’ unique home buying needs (as he has with my very own physician family).
Contact Doug by visiting this link.
Marc Evans has been in the mortgage industry north of 20 years. He believes banking is a personal commitment to helping people at every stage of their financial lives. Knowing people’s needs change, he would never waiver from providing his customers the best possible banking experience in the industry.
Contact Marc by visiting this link or call (920) 831-7721
With over 15 years experience in mortgage lending and many years specializing in physician loans, Darick Hensel draws on every previous client to help improve for the next.
He understands the nuances of physician contracts, relocations, and financial strategies. Married to a trauma surgeon, Darick values your time and need for expediency. Outside of helping new and experienced physicians with their mortgage needs, he loves his wife, 2 dogs, golfing and traveling. He and his wife already have tickets to the 150th British Open! Get to know Darick too. Find him by visiting this link, emailing him at Darick.Hensel@tcfbank.com, or calling 517-214-3257.
Living in Missouri means you have tons of choices with housing. You can choose to live in a small town, a big city or anywhere in between. A physician mortgage loan can make it possible to finalize your dream of homeownership.
To get started with a doctor home loan in Missouri, you’ll want to choose a lender who understands the challenges with your finances and demands on your busy schedule. The right lender can get you pre-qualified for a physician mortgage loan so you’ll be prepared as you begin your house-hunting journey. A preferred lender can walk you through each step of the process of obtaining a mortgage. They can also help you make the best decisions while factoring in your student loans and other challenges unique to physicians.
If you’re ready to get started on your doctor home loan in Missouri, then you’ll find these recommended lenders ready to help you move forward.
The Complete List of Lenders for Doctor Home Loans in Missouri
UMB Bank – UMB provides a variety of mortgage products and options to fit your specific needs. And, frankly, they believe applying for a home loan doesn’t have to be complicated. In general, a lender will be looking for information related to a physician’s income, account balances, monthly expenses, debt totals and residence history. Based on that financial history and current life stage, they may need to gather additional information. Your home loan officer will help you through that process during the application phase. With the help of professionals and a clear sense of each step, your home buying experience can be simple and stress-free. Contact Doug Crouse today!
BMO Harris – BMO Harris offers several mortgage options for physicians. Physicians can borrow up to 95% on mortgages up to $1M and 90% on mortgages up to $1.5M. There is no PMI on physician mortgage loans through BMO Harris. The loan programs are available with either fixed or adjustable rates and without any special fees. BMO Harris is headquartered in Chicago, IL and also operates in the states of AZ, FL,IN, KS, MN, MO, and WI. Contact Marc Evans today!
TCF Bank – TCF Bank has approximately 475 banking centers primarily located in Michigan, Illinois, and Minnesota with additional locations in Colorado, Ohio, South Dakota, and Wisconsin. They offer a doctor home loan designed to fit the unique needs of physicians, dentists, chiropractors, veterinarians, and more! No down payment for those who qualify (closing costs could apply). No private mortgage insurance is required for those who qualify. Their mortgage loan officers are experienced in working with medical professionals and are ready to guide them through the loan process for their purchase or refinance. Contact our recommended lender, Darick Hensel today!
US Bank – U.S. Bank is a leader in the mortgage industry. Many of their customers have said they would recommend them in the future. They offer loans that meet almost every mortgage need. You may be eligible for the U.S. Bank Customer Credit with a new or existing U.S. Bank Personal Checking Package, or with an existing first mortgage with U.S. Bank. Take 0.25% of the loan amount and deduct it from the closing costs, up to a maximum of $1,000. At U.S. Bank, they know that your home is one of the biggest investments you’ll ever make. And whether you’re looking for a new mortgage loan, a mortgage refinance or a home equity loan, you want a partner you can trust. Contact who we trust, Jonathan C. Brozek today!
Willow Bend Mortgage – Willow Bend Mortgage has multiple loan options to suit your financial needs. Designed for physicians, dentists, and veterinarians, there are many benefits to the medical loan program. You can utilize terms such as a 5% down payment for loans up to $1M, 10% down up to $1.5M, or 15% down up to $2M – all without PMI. There is also a 0% VA loan program for vets and active military personnel. You can inquire about the 3% down option (but with PMI) for smaller loans. The loans can include either a fixed or adjustable rate.
Union Bank – Union Bank has a fantastic physician home loan that includes some of the best rates in the nation. Key features include: 10% down to $1.25MM loan amount, they can close up to 6 months from start date of new contract (if exiting residency or fellowship). Your down payment, reserves, and closing costs can be gifted from family with no seasoning requirements (a HUGE benefit). There is no Mortgage Insurance or PMI and you can receive a lender credit for 0.25% of the loan amount up to $1,000 for opening a platinum checking account.
BancorpSouth – If you are interested in purchasing, refinancing or refinancing with cash-out, then BancorpSouth could have the options you’re looking for. For physicians, they offer loan programs without PMI and loans up to $2M. If you have a credit score of at least 640, then you can be considered for a physician loan. The options for physician loans through BancorpSouth are for adjustable rates only. BancorpSouth is headquartered in Mississippi and has locations throughout the South and Southeast.
Arvest Bank – Arvest Bank offers several options for physician mortgages. The doctor loans feature benefits such as mortgages up to 103% loan to value, flexible underwriting guidelines and no PMI. These loans are available to those who recently graduated from medical school, in residency or a physician who has been practicing for years. There are many other loan products available to best suit your financial needs. Arvest Bank is headquartered in Bentonville, AR and has over 260 locations.
Citizens Bank – Citizens Bank offers a special mortgage program for physicians and dentists through their doctor loan program. Their doctor loan is available for purchases and limited cash‑out refinances of primary residence. A few highlighted features of the program include up to 95% financing, no mortgage insurance, and your choice of a fixed-rate or adjustable-rate mortgage. Headquartered in Providence, RI, Citizens Bank has over 1,200 locations across the country.
Flagstar Bank – Flagstar bank offers a Professional Loan series available to physicians, dentists, attorneys and other high-income professionals. Features of the Flagstar Bank Professional Loan includes financing for loan amounts up to $1.5M. There are also low or no down payment options with adjustable rates. You will not have to pay PMI for the loans. You can also use these benefits for a purchase or refinance for your primary residence only.
IberiaBank – IberiaBank offers several mortgage solutions for borrowers. Physician loans are offered to those both residents, fellows and practicing physicians. Doctors are eligible to borrow up to $1M with no money down. Mortgage loans are offered with options including 5/1 ARM, 7/1 ARM and 30 year fixed – all with no mortgage insurance. Iberia Bank is headquartered in Louisiana and is available in several states.
Regions Bank – Regions Bank can help borrowers finance a loan with no down payment options for loans up to $750,000 or a 5% down option for those who need up to $1M. In addition, PMI will be excluded. Regions bank will also exclude certain student loan debt when calculating your debt-to-income ratio.
Midland States Bank – Midland States offers a comprehensive program for physician loans. Midland States Bank offers maximum loans up to $1.5M without any money down. You won’t have to pay any PMI either. There are traditional and adjustable rates and terms for your consideration. If you have a minimum credit score of 720, then you can begin the qualification process for a physician loan with Midland Bank.
KeyBank Mortgage – KeyBank Mortgage offers several options for your unique physician mortgage needs. Whether you are purchasing your first home or looking for cash-out or rate/term refinance, KeyBank can personalize a program for you. They offer up to 5% down up to $1,000,000; 10% down payment up to $1,500,000. 15% down up to $2,000,000. Max loan size $3,500,000. NO PMI. NO Prepayment Penalty. Fixed rate and variable rate mortgages available. Loan options available for purchase, as well as rate/term and cash-out refinances. Physician mortgage loans are available for both your primary residence and second homes, as well as single-family houses and condos. KeyBank has branches in numerous states, with over 17,000 employees throughout the 1000+ branches.
SoFi – SoFi is known for refinancing choices, but physicians might not be aware of the mortgage options available. Although the mortgage option isn’t limited to only physicians, it is targeted towards highly-educated individuals. One alternative mortgage to consider includes a 10% down for up to $3M in financing. There are also fixed rate and ARM options, without any hidden fees for prepayment penalties.
Laurel Road – Laurel Road is a digital lender that is owned by KeyBank who uses innovative technological and digital strategies to help you secure lending. The physician mortgage program with Laurel Road is a home loan tailored specifically to interns, residents, fellows, doctors, clinical professors, researchers, or managing physicians with a current license and a degree of Doctor of Medicine (MD), Doctor of Osteopathic Medicine (DO), or Doctor of Podiatric Medicine (DPM). Their product features up to 95% financing for loans up to $750,000 (for primary residences). Physician loans have fewer restrictions than conventional mortgages and bases the lending decision on creditworthiness and future income potential.
TIAA Bank – TIAA Bank is a large, national bank headquartered in Jacksonville, FL. They operate in all 50 states and offer a variety of physician mortgage loan products. Their doctor loan mortgage program is only available to existing medical doctors (and DO’s, veterinarians, dentists and dental surgeons) who are actively practicing and have completed residency in the past 10 years. TIAA Bank offers loan amounts up to $2M and without any PMI. A down payment is required and you must start employment within 60 days of the loan closing.
Bank of America – Get started with the Digital Mortgage Experience with Bank of America. Preferred Rewards clients may qualify for a reduction of $200-$600 in the mortgage origination fee (based on your eligible balances at the time of application). Some of the home loan products they offer include fixed-rate mortgages, adjustable-rate mortgages, FHAs, and VA loans. Already pre-approved with Bank of America? View your pre qualification letter, or contact a lending officer about taking the next steps towards home financing.
Fairway Independent Mortgage – Fairway offers borrowers the options of fixed-rate conventional loans and adjustable-rate mortgages. Prospective borrowers can apply for a loan with Fairway Independent Mortgage online, with the closing process taking place in person. Fairway has grown into a national independent brokerage network with more than 7,000 employees — including more than 3,000 loan officers — in over 500 branches.
Recommended Real Estate Agents In Missouri
Financial Residency has partnered with Dr. Moves to offer you a tailored home buying experience with agents that specialize in working with physicians in Missouri.
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