7 Best Physician Mortgages in Kansas for Medical Professionals

With a population of nearly 3 million residents, Kansas is considered the Wheat and Sunflower State for good reason. It’s one of the nation’s leading agricultural states and number one in the amount of wheat produced. 

This wholesome mid-western state is home to 8,336 practicing physicians. Unlike its neighboring state, Nebraska, the average home value in Kansas in 2023 is low, at a little over $200,000. So you can get more home for your money. When it comes to real estate, Kansas offers a lot of space and bang for your buck thanks to acres of cornfields, wheat fields and picturesque sunflowers. 

But don’t wait to get into the home of your dreams. According to March 2023 data from Zillow, home prices in Kansas have gone up 9.6% since a year ago. If you’re a doctor who is planning a move to Kansas soon, you have a special mortgage loan program available that can make homeownership more affordable. 

The physician mortgage program in Kansas allows medical professionals to take advantage of exclusive perks unique to their financial situation. Yes, it even takes into account high amounts of student loan debt, so you can achieve your dreams of homeownership.

Keep reading to learn more about what a physician mortgage loan in Kansas includes and how to take advantage of it.

What are the key features of a Kansas physician mortgage loan?

In Kansas, a physician mortgage is specifically designed for professionals with careers as dentists, nurses, doctors and veterinarians. Because of this, many banks and lenders refer to the programs as doctor mortgages. But these types of loans aren’t just for doctors anymore. Anyone who has MD, DO, DDS, DP, DPM, OD, DVM, DC or PharmD designations can qualify too.

There are three key benefits of a physician mortgage in Kansas.

Up to 100% financing

Depending on the cost of the home, you could qualify for 0% down and get full financing with a physician home loan. In comparison to conventional mortgages, where borrowers often need to bring at least 20% of the home’s cost as a down payment, a doctor loan keeps more money in your pocket.

No private mortgage insurance (PMI)

Physician home loans in Kansas also come with the benefit of not having to pay private mortgage insurance (PMI). Yep, even with a $0 down payment, you won’t have to pay PMI with a physician mortgage.

The average cost of PMI is between $30 to $70 per month for every $100,000 borrowed, according to data from FreddieMac. This could mean hundreds or thousands of dollars in savings every month.

Student loan debt friendly

Physician mortgage programs in Kansas are designed for high-income earning professionals with large amounts of student loan debt. Thankfully, these programs come with generous underwriting guidelines and flexible terms when calculating your debt-to-income ratio (DTI).

Income allowances are also available for new physicians and those in residency. Many doctor mortgage lenders allow attendings, residents, fellows and interns to use an employment contract as proof of income. The starting date must be between 60 and 90 days prior to closing.

In addition to these three key features, physician mortgages have more attractive interest rates and other financial benefits. For these reasons, we think that a Kansas physician mortgage could help you with your dreams of owning a home.

If you want to get started, check out the quote form below, or keep reading to see the names of each of the Kansas banks offering doctor mortgages.

7 Best physician mortgage lenders in Kansas

Here are the top Kansas physician mortgage lenders to consider for your next home purchase or refinance. We’ve included the direct contact information for each loan officer and more details about their specific physician mortgage programs.  

1. Arvest Bank

Whether you’re just out of medical school, in residency or a practicing physician, Arvest Bank has a physician mortgage loan for you. They offer flexible underwriting options and no PMI is required.

The bank’s physician loan program provides up to 103% loan to value financing to purchase a primary residence. Any financing over 100% must be put towards taxes, insurance and final closing costs.

2. BMO Bank, N.A.

If you’re planning to purchase or refinance a primary residence in Kansas, the BMO Bank, N.A. physician mortgage program could be a great fit. This program allows the purchase of two-unit properties, which is appealing if you’re looking to live in one unit and rent out the other.

You can get an affordable home loan with no PMI requirement and flexible debt-to-income underwriting options.

As a licensed medical doctor with MD, DDS, DMD or DO designation, you could qualify even if you have student loan debt, are starting residency soon, and have an employment contract with a start date within 90 days of closing. 

Financing terms: 

• 100% financing for up to $1 million
• 95% financing for up to $1.5 million 
• 90% financing for up to $2 million

3. First Bank

The Professionals Mortgage Program at First Bank allows MDs, DOs, dentists and attorneys, to purchase a owner-occupied residence (second homes are not eligible) with no PMI and the option of gift funds for a down payment. If you have at least two years of verified and documented history in your line of work and have an employment contract that has been accepted and fully executed, you are an ideal applicant for First Bank's program.

Financing options include:

• 0% down for up to $400,000
• 5% down for up to $1 million
• 10/6 ARM, 7/6 ARM and 5/6 ARM products

If you have a FICO score of at least 720, have the appropriate credentials, and are looking to buy a primary residence (includes single family, condo, townhouse or attached PUD), you should definitely check out this program.

4. FNBO (First National Bank of Omaha)

With multiple locations in Kansas, FNBO has a physician mortgage loan program that is worth checking out. A bonus is that they also have a professional mortgage loan program that can serve additional careers.

Eligible applicants for these programs carry one of the following licensures: CPA, CFA, JD, PA, NP, PharmD, CRNA, DVM, DDS and DMD.

As a healthcare professional in Kansas, FNBO offers 100% financing, with no PMI. Plus, student loans may be excluded from your DTI ratio if your loans are deferred for 12 months. 

Financing terms: 

• 0% down for up to $850,000
• 5% down for up to $1,250,000
• 10% down for up to $1,500,000

The FNBO loan program is open to more than just doctors and dentists. Other high-income professionals can benefit too. They have one of the broadest professional mortgage programs.

Financing terms:

• 5% down for up to $750,000
• 10% down for up to $1 million

5. Huntington Bank (previously TCF Bank)

Huntington Bank acquired TCF Bank at the end of 2020, expanding its ability to reach even more midwestern states like Kansas. Their physician mortgage program comes with 0% down on loans up to $1,000,000 and there are no PMI requirements. 

Even if you’re newly graduated, just bring a letter from your employer with a signed contract to prove your new salary.

Financing options:

• 0% down for up to $1 million
• 5% down for up to $1.25 million
• 10% down for up to $2 million

Who’s eligible: 

• MD
• DO
• DDS
• DMD
• DVM

6. UMB Bank

Those with an MD, DO, DDS, DMD, OD, PharmD or JD should be sure to check out this Doctorate Professional Mortgage Loan program. It offers no required private mortgage insurance (PMI) and there are no age restrictions. Better yet, medical residents are eligible; however, he or she must have a household income of at least $150,000.

Borrowers must close within 60 days of contract acceptance.

Options include 15, 20, and 30 year fixed-rate, as well as 5/1, 7/1 and 10/1 year adjusted-rate mortgages.

Financing options:

• 0% down for up to $1 million
• 5% down for up to $1.5 million
• 10% down for up to $2 million
• Up to 80% cash-out refinancing for up to $2.5 million

For more information, contact Andrew Berry.

7. U.S. Bank

The professional mortgage options at U.S. Bank are available for medical physicians, including residents, fellows, and doctors of osteopathy (DO). Lawyers are also eligible. Dentists and nurses are not eligible at this time.

With loan amounts up to $2.5 million, this program is a good alternative to taking out a JUMBO mortgage. 

Financing options:

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

Who’s eligible: 

• MD
• DO

To be eligible for U.S. Bank’s doctor mortgage program, you’ll need a credit score of at least 710.

Looking for even more options for Kansas physician mortgage loans? Check out our full list of the best lenders in all 50 states.

Does a physician mortgage in Kansas make sense for you?

Like other states in the country, the housing market in Kansas is increasingly competitive. It can be hard to find a home quickly. Thankfully though, medical professionals have a leg up on the competition when using a physician loan mortgage. 

By taking advantage of every perk and benefit available in this program you could save hundreds of dollars on monthly payments by not paying private mortgage insurance. And with zero down payment options, you can use the extra savings for paying off student loan debt or put towards home renovations. In other words, there’s a lot to like about a physician home loan.

Still, with high loan limits, you don’t want to overextend your budget on buying a new home you can’t afford. Use our updated physician mortgage loan calculator to see how much home you can afford and what to expect.

Whether you’re a young medical professional with limited cash reserves or a seasoned doctor, a physician mortgage is a smart option. Ready to get started with a quote? Fill out the short form below or choose from our list of the preferred loan officers.