Physician Loans in Iowa


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Alerus Financial

(AL, AZ, CA, CO, CT, DC, FL, IA, ID, IN, KS, KY, MA, MD, MI, MN, MO, MT, NC, ND, NE, NM, NV, OH, OR, PA, SC, SD, TN, TX, UT, WA, WI, WY)

Match Banks Contact Send Email

Online

usually responds within 30 minutes

Alerus Financial

(AL, AZ, CA, CO, CT, DC, FL, IA, ID, IN, KS, KY, MA, MD, MI, MN, MO, MT, NC, ND, NE, NM, NV, OH, OR, PA, SC, SD, TN, TX, UT, WA, WI, WY)

$100M Closed Loans

Alerus Financial is a bank established in 1879 that offers comprehensive financial solutions including banking, mortgage, retirement, and wealth management services.

High-income professionals can utilize Alerus Financial's comprehensive suite of services including wealth management, retirement planning, and personal banking. Their personalized financial strategies include investment management, estate planning, and risk management. Alerus also offers business banking and mortgage services. [ Read Review → ]

  • Minimum credit score: 680
  • Maximum loan: $1,500,000
Down payment Financing
0%up to $750,000
5%up to $1 million
10%up to $1.5 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • DVM
  • OD
  • Fellow
  • Resident
  • DPM
  • CRNA
  • PharmD
  • NP
  • PA
  • JD
  • DC
  • CPA
  • PhD
  • RN

Bank Of America

(All 50 States)

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Online

usually responds within 30 minutes

Bank Of America

(All 50 States)

$100M Closed Loans

Bank of America, founded in 1904, is a leading global financial institution offering a broad range of banking, investing, asset management, and other financial and risk management products and services.

High-income professionals can take advantage of various services from Bank of America, including personalized wealth management, advanced investment strategies, and dedicated advisors for financial planning. They also offer specialized banking services, flexible mortgage options, and exclusive rewards and benefits. [ Read Review → ]

  • Minimum credit score: 700
  • Maximum loan: $2,000,000
Down payment Financing
3%up to $825,000
5%up to $1 million
10%up to $1.5 million
15%up to $2 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • OD
  • DVM
  • CRNA
  • PharmD
  • NP
  • PA
  • JD
  • DC
  • CPA
  • PhD
  • RN

BankMD

(All 50 States)

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Online

usually responds within 30 minutes

BankMD

(All 50 States)

$100M Closed Loans

BankMD, founded in 2005 and operating via bankmd.com, specializes in providing financial services to medical professionals with a focus on personal loans and wealth management.

High-income professionals can access a suite of services from BankMD, including specialized banking, lending, and investment solutions. The bank's offerings are tailored to meet the unique financial needs of medical professionals, helping them manage and grow their wealth effectively. [ Read Review → ]

  • Minimum credit score: 670
  • Maximum loan: $3,000,000
Down payment Financing
0%up to $850,000
5%up to $1 million
10%up to $2 million
15%up to $3 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DVM
  • DPM
  • OD
  • CRNA
  • PharmD
  • NP
  • PA
  • JD
  • DC
  • CPA
  • PhD
  • RN

First National Bank of Omaha

(CO, IA, IL, KS, MO, NE, SD, WY)

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Online

usually responds within 30 minutes

First National Bank of Omaha

(CO, IA, IL, KS, MO, NE, SD, WY)

$100M Closed Loans

First National Bank of Omaha, founded in 1857, is the largest privately-owned bank in the U.S., offering a full range of banking and financial services across multiple states.

High-income professionals can take advantage of the First National Bank of Omaha's services, which include wealth management, comprehensive financial planning, private banking, and trust services. FNBO also offers personalized strategies for investment, estate planning, and managing retirement assets. [ Read Review → ]

  • Minimum credit score: 720
  • Maximum loan: $1,500,000
Down payment Financing
0%up to $850,000
5%up to $1.25 million
10%up to $1.5 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • CRNA
  • PharmD
  • NP
  • PA
  • JD
  • CPA
  • DPM
  • DVM
  • OD
  • DC
  • PhD
  • RN

Flagstar

(All 50 States Except NY)

Match Banks Contact Send Email

Online

usually responds within 30 minutes

Flagstar

(All 50 States Except NY)

$100M Closed Loans

Flagstar, founded in 1987, is a leading national bank headquartered in Michigan, offering a broad range of banking, mortgage, and lending operations.

High-income professionals can utilize Flagstar's wealth management services for their financial planning needs. These services include personalized investment strategies, retirement planning, estate planning, and trust services. Additionally, Flagstar offers private banking solutions such as tailored loans and exclusive credit options. [ Read Review → ]

  • Minimum credit score: 680
  • Maximum loan: $3,000,000
Down payment Financing
0%up to $1 million
5%up to $1.5 million
10%up to $3 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • DVM
  • OD
  • CRNA
  • PharmD
  • NP
  • PA
  • JD
  • CPA
  • RN
  • DC
  • PhD

GreenState Credit Union

(All 50 States Except CA)

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Online

usually responds within 30 minutes

GreenState Credit Union

(All 50 States Except CA)

$100M Closed Loans

GreenState Credit Union, founded in 1938, is a member-owned financial cooperative providing diverse banking services to more than 350,000 members across the United States.

High-income professionals can take advantage of a variety of services from GreenState Credit Union. These include exclusive checking and savings accounts with competitive interest rates, extensive loan options, wealth management and investment services, retirement planning, and insurance services, all designed to optimize their financial growth and security. [ Read Review → ]

  • Minimum credit score: Not reported
  • Maximum loan: $2,000,000
Down payment Financing
0%up to $1 million
5%up to $1.25 million
10%up to $2 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • DVM
  • OD
  • PharmD
  • NP
  • PA
  • CRNA
  • JD
  • DC
  • CPA
  • PhD
  • RN

Laurel Road

(All 50 States)

Match Banks Contact Send Email

Online

usually responds within 30 minutes

Laurel Road

(All 50 States)

$100M Closed Loans

Laurel Road, established in 2013, is a fintech company known for its online lending platform, providing student loan refinancing, mortgages, and personal loans.

High-income professionals can leverage Laurel Road's services for personalized financial solutions. The platform offers student loan refinancing, personal loans, mortgages, and high-yield savings accounts. It also provides digital banking services with attractive interest rates, emphasizing transparency and customer support. [ Read Review → ]

  • Minimum credit score: Not reported
  • Maximum loan: Varies
Down payment Financing
10%Varies
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • DVM
  • OD
  • CRNA
  • PharmD
  • NP
  • PA
  • JD
  • DC
  • CPA
  • PhD
  • RN

Northpointe

(All 50 States Except CA, NY)

Match Banks Contact Send Email

Online

usually responds within 30 minutes

Northpointe

(All 50 States Except CA, NY)

$100M Closed Loans

Northpointe, founded in 1999, is a Michigan-based online banking institution providing comprehensive financial services, including checking, savings, and loans.

High-income professionals can leverage Northpointe's comprehensive financial services, which include high-yield checking and savings accounts, competitive mortgage loans, and tailored lending options. The firm also offers personalized wealth management and investment strategies to optimize asset growth. [ Read Review → ]

  • Minimum credit score: 700
  • Maximum loan: $1,000,000
Down payment Financing
0%up to $850,000
10%up to $1 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • DVM
  • OD
  • PharmD
  • DC
  • CRNA
  • NP
  • PA
  • JD
  • CPA
  • PhD
  • RN

Old National Bank

(IA, IL, IN, KY, MI, MN, WI)

Match Banks Contact Send Email

Online

usually responds within 30 minutes

Old National Bank

(IA, IL, IN, KY, MI, MN, WI)

$100M Closed Loans

Old National Bank, founded in 1834, is an Indiana-based financial institution offering a broad range of services including retail and commercial banking, wealth management, and investment services.

High-income professionals can utilize Old National Bank's services for personalized wealth management, including investment management, trust services, and private banking. They also provide retirement plan services, estate planning, and philanthropy management, ensuring comprehensive financial care. [ Read Review → ]

  • Minimum credit score: 700
  • Maximum loan: $2,000,000
Down payment Financing
0%up to $750,000
5%up to $1.25 million
10%up to $1.5 million
15%up to $2 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • DVM
  • OD
  • CRNA
  • PharmD
  • NP
  • PA
  • JD
  • DC
  • CPA
  • PhD
  • RN

PNC Bank

(All 50 States Except )

Match Banks Contact Send Email

Online

usually responds within 30 minutes

PNC Bank

(All 50 States Except )

$100M Closed Loans

PNC Bank, established in 1845, is a comprehensive financial services corporation offering a wide range of services including retail banking, asset management, and corporate banking.

High-income professionals can benefit from PNC Bank's tailored wealth management and financial planning services. These include investment advising, estate planning, and private banking. PNC also offers specialty services such as asset management for executives and business succession planning. [ Read Review → ]

  • Minimum credit score: 720
  • Maximum loan: $2,000,000
Down payment Financing
5%up to $1 million
10%up to $1.5 million
15%up to $2 million
20%Varies
Eligible degrees:
  • MD/DO
  • Fellow
  • Resident
  • DDS/DMD
  • DPM
  • DVM
  • OD
  • CRNA
  • PharmD
  • NP
  • PA
  • JD
  • DC
  • CPA
  • PhD
  • RN

Shoreham Bank

(AZ, CA, CO, FL, IA, ID, IL, MI, NV, RI, TN, UT)

Match Banks Contact Send Email

Online

usually responds within 30 minutes

Shoreham Bank

(AZ, CA, CO, FL, IA, ID, IL, MI, NV, RI, TN, UT)

$100M Closed Loans

Shoreham Bank, founded in 1860, is a reputable financial institution offering a comprehensive range of banking services including loans, savings, and online banking.

High-income professionals can take advantage of various services from Shoreham Bank. These include specialized checking and savings accounts, tailored investment advice, estate planning, and personalized loan options. The bank also offers a private banking service, providing dedicated financial advisors for comprehensive wealth management. [ Read Review → ]

  • Minimum credit score: 700
  • Maximum loan: $2,000,000
Down payment Financing
0%up to $1 million
5%up to $1.25 million
10%up to $1.5 million
15%up to $2 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • DVM
  • OD
  • CRNA
  • PharmD
  • NP
  • PA
  • DC
  • JD
  • CPA
  • PhD
  • RN

The Federal Savings Bank

(CO, CT, DC, GA, IA, IL, IN, KY, MA, MD, MI, MN, MS, MT, NC, ND, NJ, NY, OR, PA, SC, SD, TN, TX, UT, VA, WA, WI, WY)

Match Banks Contact Send Email

Online

usually responds within 30 minutes

The Federal Savings Bank

(CO, CT, DC, GA, IA, IL, IN, KY, MA, MD, MI, MN, MS, MT, NC, ND, NJ, NY, OR, PA, SC, SD, TN, TX, UT, VA, WA, WI, WY)

$100M Closed Loans

The Federal Savings Bank, founded in 2000, is a veteran-owned, federally chartered bank offering mortgage services and banking products nationwide.

High-income professionals can leverage The Federal Savings Bank's services for tailored banking solutions. These include wealth management, personalized mortgage options, and private banking. The bank also provides advisory services for investment strategies, optimizing financial assets, and long-term financial planning. [ Read Review → ]

  • Minimum credit score: 680
  • Maximum loan: $2,000,000
Down payment Financing
0%up to $1 million
5%up to $1.25 million
10%up to $2 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • DVM
  • OD
  • CRNA
  • PharmD
  • NP
  • PA
  • JD
  • DC
  • CPA
  • PhD
  • RN

The Huntington National Bank

(CO, CT, DE, FL, GA, IA, ID, IL, IN, KS, KY, MA, MD, ME, MI, MN, MO, MT, NC, ND, NE, NH, NJ, NM, OH, OK, OR, PA, RI, SC, SD, TN, UT, VA, VT, WA, WI, WV, WY)

Match Banks Contact Send Email

Online

usually responds within 30 minutes

The Huntington National Bank

(CO, CT, DE, FL, GA, IA, ID, IL, IN, KS, KY, MA, MD, ME, MI, MN, MO, MT, NC, ND, NE, NH, NJ, NM, OH, OK, OR, PA, RI, SC, SD, TN, UT, VA, VT, WA, WI, WV, WY)

$100M Closed Loans

The Huntington National Bank, established in 1866, is a full-service banking provider serving consumers, small businesses, and commercial markets primarily in the Midwest and Southeast U.S.

High-income professionals can leverage Huntington National Bank's wealth management services, which include financial planning, investment management, private banking, and trust services. These offerings are designed to optimize wealth growth, sustain income, and secure financial futures. [ Read Review → ]

  • Minimum credit score: 680
  • Maximum loan: $2,000,000
Down payment Financing
0%up to $1 million
5%up to $1.25 million
10%up to $2 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DVM
  • DPM
  • OD
  • CRNA
  • PharmD
  • NP
  • PA
  • JD
  • DC
  • CPA
  • PhD
  • RN

Truist

(All 50 States Except AK, AR, HI, OR)

Match Banks Contact Send Email

Online

usually responds within 30 minutes

Truist

(All 50 States Except AK, AR, HI, OR)

$100M Closed Loans

Truist, formed by the merger of BB&T and SunTrust in 2019, is a leading banking institution offering a comprehensive range of financial services across the United States.

High-income professionals benefit from Truist's comprehensive wealth management services. These services include personalized financial planning, investment management, estate planning, and risk management. Truist also offers tailored lending solutions and private banking options to meet unique financial needs. [ Read Review → ]

  • Minimum credit score: 720
  • Maximum loan: $2,000,000
Down payment Financing
0%up to $1 million
5%up to $1.5 million
10%up to $2 million
Eligible degrees:
  • MD/DO
  • DDS/DMD
  • Fellow
  • Resident
  • DPM
  • DVM
  • OD
  • CRNA
  • PharmD
  • NP
  • PA
  • JD
  • DC
  • CPA
  • PhD
  • RN

Key Terms

  • Student loan payments typically receive favorable treatment with a doctor loan, making it easier to qualify for a mortgage.
  • A Iowa physician mortgage loan comes with higher loan limits and options for up to 100% financing.
  • Benefits of these loans include no private mortgage insurance.

Iowa is a classic part of the American Midwest, offering a number of things for people to see and do, including the Grout Museum and the Des Moines Art Center. Known as the “Hawkeye State,” this landlocked state is bordered by Wisconsin, Illinois, Missouri, Nebraska, South Dakota, and Minnesota, and was the 29th state to join the Union on December 28, 1846.

Doctors comprise a good section of the Iowan population, with almost 7,000 doctors currently living and working in the state. For many physicians and professionals, owning a new home in Iowa may seem out of reach for various reasons.

Data from the Iowa Association of Realtors shows the average sales price for single-family homes is $224,000. At this time, homes in Iowa are averaging 32 days on the market which means that they are being sold at a 20% higher rate than last year.  

The Iowa doctor loan program may help doctors, dentists and sometimes veterinarians planning to buy or refinance a home in the state to qualify for easier terms. That may include minimal down payment requirements and, in some cases, none at all. 

Show Me Lenders

Pros/Cons of Iowa physician mortgage loans

Why do doctors in Iowa decide to take out physician mortgage loans? These financial products offer a wide range of “pros” in their favor, including:

  • Little to no money down required
  • No PMI payments
  • High loan limits

Lenders that offer doctor mortgages also often give special consideration to student loan debt. Student loan repayment is a common issue with highly-trained healthcare professionals and can prevent them from getting conventional loans. 

What are some “cons” working against physician mortgage loans? Higher limits on a loan can drive a borrower to spend more on a house than he or she should. These products also often require that a borrower open an account with the lending bank. Finally, in some cases, a doctor mortgage can have an interest rate that is higher than those offered with conventional mortgages. 

Get Quotes for Your Physician Loan

Is an Iowa physician mortgage loan right for you?

If you are reading this, you may be at the point of considering whether a physician mortgage loan will be the right choice for you. What makes a doctor mortgage the right fit? These loans are a great fit for physicians and professionals who know they are in a job they will stick with in the long term and who are committed to staying in their current town. 

An Iowa physician mortgage loan is also great for someone who understands that, while burdensome in some ways, a higher interest rate is a good price to pay for the wide-ranging benefits associated with these mortgages. 

Examples of medical doctors who take out physician loans in Iowa

Who are the Iowa physicians who have decided that a doctor mortgage is the best option for them? They range from those who are starting out in their careers to established physicians looking to increase their options and maximize their leverage. 

An internist who doesn’t have a down payment

As an in-demand Doctor of Podiatric Medicine (DPM) internist, Tom’s career is a fait accompli. He is guaranteed a good salary for the duration of his career and steady employment. Unfortunately, however, Tom doesn’t have cash on hand for a 20 percent down payment.

With the amount of student debt he is still carrying and his debt-to-income ratio (DTI), the lack of a down payment doesn’t make him the best candidate for a conventional loan, despite his earning potential and solid career. A physician mortgage loan gives him an easy way to finance a home, with the added bonus of requiring no money down. 

A dentist who wants to maximize leverage

Sara started her family dental practice over a decade ago. In the years since, she’s established a great reputation and her income is steady and impressive. She has squirreled away a pretty substantial savings and also made various investments. Now that the time has come to upgrade her small family from a condo to a home in her neighborhood just outside Ames, Sara is exploring her options.

She could sell some investment or draw on her savings to make a 20 percent down payment on a conventional loan, but she prefers to maximize her leverage. Instead, she takes out a doctor mortgage offered by a popular regional lender and receives great terms with 100% financing. 

Looking for a physician loan in a different state?

If you’re looking to explore the best physician loans in other states, click on your state below.

Find a Physician Loan Specialist

Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.

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