12 Best Physician Mortgage Loans in Texas

Texas has over 73,000 in-state practicing physicians, according to 2024 data from the Texas Medical Board. It also has one of the most competitive doctor mortgage marketplaces in the country, with a large number of banks offering this niche lending program in Texas.

This guide will show you the pros and cons of a Texas doctor mortgage as well as top lenders to consider.

Benefits of Texas physician mortgage loans

A physician mortgage loan, sometimes called a doctor loan, can often make owning a home a reality much sooner than a conventional mortgage.

These programs have exclusive benefits, such as:

• No down payment financing. Many physician loan lenders offer up to 100% financing. However, a small down payment (e.g. 5% to 10%) might be required to access higher loan limits.
• No private mortgage insurance requirement. You can save hundreds of dollars each month by dodging the PMI requirement that typically comes with a down payment of less than 20%.
• Favorable treatment of student loan debt. Each physician mortgage lender treats student loan debt differently when calculating your debt-to-income ratio, but most give you favorable treatment during underwriting
• Lower interest rates than a jumbo loan. If you’re looking to purchase a million-dollar home, you can generally keep your interest rate low with a physician mortgage loan.
• Fierce competition for Texas doctors' business. Texas has one of the most competitive physician mortgage marketplaces in the country. Most banks with a doctor mortgage program offer it in Texas due to a more relaxed regulatory environment and large pool of borrowers.

Texas Doctor Mortgage Lenders	0% Down Loan Limit	Who Can Qualify	Unique Features
BMO	Min 5% down	MD, DO, DDS, DMD	Lends in majority of the country
Cadence Bank	$1.5 million	MD, DO, DDS, DMD	High zero down limit
Extraco Banks	$750,000	MD, DO	Central Texas focus
First Financial Bank	$510,400	MD, DO	Texas focused
First Horizon Bank	$1.5 million	MD, DO, DPM, OMS	Need at least 670 credit score
FNBO	$850,000	Most grad degrees	Limited to certain metros
KeyBank	$1 million	MD, DO, DMD, DPM	Can be used for second home
Laurel Road	$1 million	MD, DO, DMD, DPM	Retired Doctors not eligible
Regions	$750,000	Most grad degrees	Close before job begins
Truist	$1 million	MD, DO, DDS, DMD, DPM	Within the past 15 years of training
UMB Bank	$1 million	MD, DO, DDS, DMD, OD, PharmDs	No age or timeline restrictions
US Bank	Min 5% down	MD, DO	Dentists not eligible

12 Top physician home loans in Texas

If you’re in the market for a home in Texas, consider these physician mortgage loans that are available to state residents.

If you're looking for more info about these lenders, you can use the form below after reading more about their programs.

1. BMO Bank, N.A.

Get an affordable home loan with BMO Bank, N.A., that comes with no PMI requirement plus flexible debt-to-income underwriting options. Licensed professionals with MD, DDS, DMD or DO designation can qualify.

Financing options include:

• 5% down for up to $1.5 million
• 10% down for up to $2 million
• 10% down for physicians that have been in practice for more than ten years (regardless of loan amount)

This program is open to residents, fellows and existing medical doctors with an MD, DDS, DMD or DO designation.

2. Cadence Bank

Cadence Bank has more than 400 locations across the Southeast. Its Medical Professional Loan Program is available to new or established Physicians, Medical Residents, Medical Fellows, Doctors of Osteopathic Medicine, Doctors of Dental Surgery, Doctors of Dental Medicine and Ophthalmologists.

No private mortgage insurance is an option and there is little-to-no down payment for qualifying borrowers.

Financing options:

• 0% down for up to $1.5 million

3. Extraco Banks

Medical physicians, residents and full-time medical instructors in Texas might be eligible for Extraco’s physician loan program. Extraco is a local bank that focuses on the Central Texas area.

Financing options:

• 0% down for up to $750,000

4. First Financial Bank

First Financial Bank has 78 branches across the state of Texas and offers a physician mortgage program. Note that your life insurance must be assigned to First Financial Bank for 20% of your total mortgage if 95% financing is provided.

They are a statewide focused bank that has more limited options than many other national banks. They serve MDs and DOs.

Financing options:

• 0% down for up to $510,400

5. First Horizon

Physician mortgages from First Horizon Bank are available to anyone with an MD, DO, OMS and DPM degree. It's an excellent option whether you've just started your career or have many years of experience under your belt. There are no age requirements, and you can close 90 days prior to the start of a new employment contract.

Financing options include:

• 0% down for up to $1.5 million
• 5% down for up to $2 million
• 10% down for up to $2.5 million

Credit scores as low as 670 can qualify, which is one of the lowest credit score requirements we've seen.

They also offer H-1B visa non-citizens loans and 100% financing.

6. First National Bank of Omaha (FNBO)

FNBO's physician mortgage loan program is only available in the greater Dallas / Fort Worth metro area (approximately 11 counties). If you live in Houston, El Paso, Austin or another metro area far outside of DFW, look elsewhere.

It offers low down payment options (100% financing is available for qualifying professions) with no PMI.

In addition to their physician mortgage program, they have one of the broadest professional mortgage programs that includes those with a CPA, CFA, JD, PA, NP, CRNA, or DVM who are eligible.

Student loans may be excluded from your DTI ratio if your loans are deferred for 12 months.

Who’s eligible (loan amounts up to $1.25 million):

• Practicing medical doctors and residents
• Anesthesiologists
• Dentists
• Pharmacists

Financing options for loans up to $1.25 million include:

• 0% down for up to $850,000
• 5% down for $850,000 to $1.25 million
• 10% down for $1.25 million to $1.5 million

Who’s eligible (loan amounts up to $1 million):

• Physician Assistants
• Nurse Practitioners
• Certified Registered Nurse Anesthetists
• Veterinarians

If you're a medical professional in this group, your financing options include:

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

7. KeyBank

Medical doctors and dentists are eligible for KeyBank's medical professional mortgage loan. This program can be used to purchase or refinance a primary residence or second home.

KeyBank’s doctor and dentist program extends its eligibility to those who are a resident, fellow, or attending with an MD, DO, DPM, or DMD. Those who can provide a signed employment contract can close 90 days prior to his or her start date of employment.

Financing options include:

• 0% down for up to $1 million
• 5% down for up to $1.5 million
• 15% down for up to $2 million

KeyBank has fixed rate options (30, 25, 20, 15, and 10 year), as well as adjustable-rate options of 10/6 ARM, 7/6 ARM, and 5/6 ARM.

8. Laurel Road

Laurel Road’s physician mortgage is available in all 50 states to many professions, including interns, residents, fellows, doctors, dentists, clinical professors, researchers, or managing physicians. Second homes are allowed, an you can only contact Laurel Road online. Retired doctors are ineligible.

Financing options include

• 0% down for up to $1 million

9. Regions Bank

Regions Bank provides physician mortgage loans to borrowers in a wide variety of medical professional designations in Texas. Their Medical Professional Loans program places no restrictions on how long an eligible medical professional has to have been practicing to be approved for a loan.

Eligible applicants include pharmacists, nurse anesthetists, nurse practitioners, physician’s assistants, veterinarians, chiropractors, optometrists, podiatrists, MDs, DOs, DMDs and DDSs. Residents and fellows are also eligible, and the program is open to attorneys, as well.

Financing options for loans include 30 and 15 year fixed-rate and 10, 7 and 5 year ARMs. There is no loan amount limit on what you decide to apply for. In addition, your down payment depends on your vocation:

• 0% down for MD, DDS and DO
• 3% down for pharmacists, nurse anesthetists, nurse practitioners, physician’s assistants, veterinarians, chiropractors, optometrists, podiatrists and licensed attorneys

You can close up to 60 days before the listed start date on your employment contract or date of transferred employment.

Contact Regions Bank for more info and to get a rate quote without a credit check.

10. Truist

The Truist doctor mortgage loan provides eligible physicians with exclusive perks, like lower interest rates and favorable student debt treatment.

Licensed residents, interns and fellows in an MD, DO or DPM program might be eligible for a maximum home loan of $750,000 with $0 down.

Whereas, establish physicians (MD, DO, DPM, DDS and DMD) have access to the following financing options:

• 0% down for up to $1 million
• 5% down for up to $1.5 million
• 10.01% down for up to $2 million

Note that physicians with 10 to 15 years of experience post-training are limited to 89.99% financing for up to $1.5 million.

To find out more information, contact Matt Albert.

11. UMB Bank

UMB Bank’s Doctorate Professional Mortgage Loan offers no required private mortgage insurance (PMI), up to 80% cash-out refinancing, no age restrictions, and low down payment options to those with an MD, DO, DDS, DMD, OD, and PharmD, as well as attorneys. Residents are also eligible for this program; however, he or she must have a household income of at least $150,000, in order to be accepted.

Borrowers must have an employment contract or signed offer letter, a copy of their license, and close within 60 days of contract acceptance.

Financing options include:

• 0% down for up to $1 million (must be an attending physician)
• 5% down for up to $1.5 million
• 10% down for up to $2 million

15, 20, and 30 year fixed-rate and 5/1, 7/1, and 10/1 year adjusted-rate mortgage options are available.

Read our full UMB Bank review

12. U.S. Bank

U.S. Bank’s unique physician mortgage program is available for most medical professions, including physicians, residents, fellows and DOs. Lawyers are also eligible. As long as you have a credit score of 710 or higher you could qualify. U.S. Bank has slightly higher down payment requirements than other lenders on this list, but their customer service is outstanding for those in the medical field. 

Financing options include:

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

Related: See our Physician Mortgage Loan Calculator for estimating payments and more

Does a Texas physician loan make sense for your next home?

Texas physician mortgage loans come with huge benefits and very little downside. You won’t have to save up for a large down payment, which means you can get into your new home a lot sooner. You also won’t have to budget for monthly or lump sum PMI payments.

Instead, you can use that money for paying down student debt, investing for retirement or planning for renovations. However, if you’re prone to lifestyle creep, this type of loan might not be the best choice. You run the risk of signing for a mortgage payment that you might not be able to safely afford in the future.

So as long as you're buying smart, a Texas physician loan can be a great tool that gets you into your dream home sooner.