If purchasing or refinancing a doctor home loan in Texas is on your to-do list, then keep reading for a guide to lenders ready to work with you. There are over 64,000 physicians who call Texas home and several lenders ready to help you start the doctor loan process.
Texas continues to grow and attract physicians each year. It’s one of the most populated states in the country and home to over 29,000,000 residents. Texas is home to everything from healthcare to tech to sports teams and rodeos. You’ll find whatever you can dream of, whether it’s deep in the heart of Texas or in a sprawling suburb.
Recommended Lenders for Doctor Home Loans in Texas
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 or call (816) 728-3631
Mike began his mortgage career in 2001 and has been working exclusively with doctors for the last 9 years. He takes a consultative approach with his clients in the mortgage planning process. With his team of three assistants, Mike makes the process of buying a new home efficient and stress-free.
Mike Fitzmeyer of SunTrust (now Truist) understands the mortgage business. He is a seasoned professional with over 28 years of experience with a specific focus on Doctor Mortgage financing. Mike understands the needs of the Physician community and will tailor a mortgage solution for each client’s individual needs and financial plan. Mike and SunTrust (now Truist) have tremendous Doctor Mortgage experience and have flexibility in dealing with different situations in order to customize a mortgage solution for each client.
Contact Mike today to get the best service for your next home purchase or refinance needs.
Regions offers 100% financing for loans up to $750,000 and 95% financing for loans up to $1,000,000. Medical physicians, such as existing medical doctors and fellows, residents, and designations like DMDs/DDS, and DOs qualify to apply. Mortgages are available for purchase and refinances along with fixed rates or adjustable rates. There is no private mortgage insurance requirement and you can close your loan 60 days before you start your job. If that isn’t enough, consider that they also don’t count your student loan debt towards your DTI.
Connect with a Financial Residency vetted representative at Regions by email here or by phone at 267-295-2753.
With such a vast amount of land and cities to choose from, it means you have a variety of choices in housing in Texas. A doctor home 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 lender who understands the challenges a physician faces – both with finances and limited amounts of time. Getting pre-qualified for a doctor home loan saves you time (and effort) during the process and gives you all the information you need up front. Plus, getting prequalified tells the seller of the home you’re buying that you are a serious contender.
If you’re ready to get started on your doctor home loan in Texas, then check out these lenders who can get you started on your dream today.
The Complete List of Lenders for Doctor Home Loans in Texas
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!
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. Contact Mike DeRaspe today.
SunTrust (now TRUIST) – The doctor home loan program from SunTrust Bank (now Truist) is available to MDs, DOs, DDS’, and DMDs that are currently in residency, and practicing professionals that have completed their training within the last 10 years. Residents and fellows are eligible for a SunTrust physician loan up to $750,000 with no down payment at 100% financing! Meanwhile, those within ten years of residency completion are eligible for higher physician loan amounts up to $1,000,000 with 95% financing and up to $1,500,000 with 89.99% financing! Contact Mike Fitzmeyer today if you have questions specific to your upcoming home purchase!
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.
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!
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. Contact Jonathan Brozek today!
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.
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.
University Federal Credit Union – The UFCU serves the Austin, TX and Galveston County area. It has over 317,000 credit union members. University Federal Credit Union offers physician loans to an M.D., D.O., D.D.S, in both training and practice. Residents and fellows are eligible for loan amounts up to $424,000 with no down payment. There is also an option to obtain up to $1.5M in financing but with a down payment (based on the loan size). The loans do not have PMI.
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.
Extraco Mortgage – Extraco Mortgage offers several benefits for the physician mortgage loan borrowers. You will find 100% financing on a purchase or refinance of principal residence up to $510,400, no private mortgage insurance (PMI) to save you additional money. They also have flexible credit score requirements and up to 3% seller contributions. Extraco operates out of Central Texas where it has over 120,000 customers across 15 branch locations in the central Texas area.
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.
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.
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.
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.
BOK Financial – BOK financial offers several mortgage products for a physician’s unique mortgage needs. They were founded in Tulsa, OK but now have several locations across AR, AZ, CO, KS, MO, NM, OK and TX. Residents and fellows can qualify for physician loans up to $650,000, while practicing physicians are eligible for loans up to $1M. The bank also offers down payment options as low as 3% on eligible physician loans.
Cadence Bank – Cadence Bank offers a variety of mortgage programs designed to address the unique needs of physicians and financing. The physician mortgage program allows mortgages to be obtained with up to a 100% loan-to-value (LTV) ratio. Physicians can qualify for a mortgage on a home valued up to $1.5M without any down payment. These loans are available without PMI. The wide range of mortgage options include fixed-rate and adjustable-rate mortgages and 5/1 ARMs. Cadence Bank has almost 100 locations which operate in the states of Colorado, Florida, Georgia, North Carolina and Texas.
BankMD – BankMD specializes in banking and mortgage needs for physicians. With headquarters in San Antonio, TX, contact them today to find out if you are eligible for a loan through BankMD. There are several benefits with the physician loans, including up to 100% financing on physician mortgages without any PMI or pre-payment penalties.
BBVA Compass – BBVA operates in 9 states and is headquartered in Birmingham, AL. The BBVA physician mortgage program offers benefits such as low down-payment options, expanded loan-to-value ratios, programs with up to 100% loan financing and loan amounts available up to $1,750,00. There is also no requirement for PMI. BBVA offers physician mortgages to medical residents and practicing physicians.
First National Bank of Omaha – First National Bank of Omaha offers numerous choices for physicians and their mortgage needs. FNBO operates in Nebraska, Colorado, Iowa, Illinois, Kansas, South Dakota and Texas. Doctor mortgage loans with FNBO require a 3% down payment for loans up to $850,000 and PMI. If you are an FNBO checking account holder, you will receive up to $400 off your mortgage closing costs. Contact FNBO today for full program details on their physician mortgage loans.
PhysicianLoans – As the name suggests. PhysicianLoans is focused solely on providing mortgage solutions to physicians. They are based in Columbus, Ohio and licensed in several states, offering both traditional branches and online service. They will help you secure a loan with 100% financing, without any money down. You will also find options without PMI or any prepayment penalties. PhysicianLoans features true loans for physicians with special underwriting.
LoanDepot – LoanDepot offers innovative solutions for your physician home loan needs. Working with LoanDepot means you are working with a national consumer lender. They are headquartered in Southern California and employ 6,400 team members across the country. This also includes 2,000+ licensed loan officers who hold more than 10,000 licenses. The company operates 150+ local loan locations nationwide.
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.
Simmons Bank – Simmons Bank offers multiple loan products, along with flexible terms and down options to the medical community. They have a Professional Provider Mortgage program specifically for an MD, Oral Surgeon, or Dentist who has completed medical school or dental school and is in residency, fellowship or in practice. The mortgage program allows the borrower to leverage future income for present-day home purchases. The bank is headquartered in Arkansas with additional locations in TX, TN, IL, MO, NE, KS and OK.
First United Bank – The mortgage division of First United Bank is known as the First United Mortgage Group. First United Mortgage offers physician loans to doctors and dentists. There are many benefits to the loans including 100% financing for loans up to $750,000 or 95% financing on loans up to $1.5M. They offer borrowers competitive pricing on the loans and no mortgage insurance is required. The bank serves the Southwestern markets, mainly in Texas and Oklahoma.
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.
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 Texas
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