Physician Loans in Kansas


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9 Best Hidden Doctor Mortgage Loans in Kansas

Key Terms

  • Higher loan limits with potential 100% financing in some cases give borrowers more options.
  • Professionals with student loan payments get special consideration of this debt under physician mortgages.
  • Physician mortgages don’t require PMI, even with no down payment.

Often referred to as the “Sunflower State” or the “Wheat State” and famous for its vast plains, Kansas actually has a lot more to offer than meets the eye. Kansas is home to a number of national trails and landmarks, including portions of the Oregon National Historic Trail and the Pony Express National Historic Trail.

Data from the Kansas City Regional Association of Realtors shows the average sales price for single-family homes is $342,837. Homes tend to be on the market for about 19 days and sell for 103.6% of the asking price. 

If you are a dentist or a doctor considering a home purchase, a Kansas physician mortgage loan program may offer the tools needed with its low down payment requirements and in some cases, no down payment opportunities. That could make it easier for the 6,380 working physicians living in the state to find a home since traditional mortgage loans or refinance options might not apply for new healthcare professionals. If you use your employment contract once you found somewhere you’d like to buy on the NMLS, you might be able to get a physician home loan with many upfront benefits.

If you’re interested in exploring physician loans, keep reading to see their advantages and disadvantages as well as the lenders that offer these programs. If you’re looking for your first home out of medical school or residency, knowing the loan terms is important for getting the full benefits of these programs.

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Kansas physician mortgage loans: The upside and downside

Taking out a Kansas physician mortgage loan brings with it a pretty significant upside. You can access higher limits, for one, allowing you to select for a wider range of Kansan homes. You also receive special treatment for your student debt, giving you a much easier approval process than you might have with a conventional loan. Perhaps most importantly, a physician mortgage loan does not require that you pay PMI, and you can often receive 100 percent financing on a home. 

Are there any downsides? A few, depending on your perspective. The lender may ask that you also open an account with their bank. Some might think that positive, but others might consider it an unnecessary, additional burden. You may also need to pay a higher interest rate on your loan, which can add a few dollars to your overall costs.

Finally, be careful not to buy “too much”; higher limits for a doctor loan can sometimes cause borrowers to invest in more new home than they really need. When choosing from physician home loans, make sure you’ll be able to cover repayment responsibilities in the future.

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9 best doctor mortgage lenders in Kansas

If you’re ready to learn more about the best physician mortgage lenders in Kansas, here are the top options we’ve found through our research.

Match Banks Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD/DO); Dentist (DMD, DDS), Pharmacist (Pharm D), Attorney (JD), Veterinarian (DVM), Physician Assistant, Registered Nurse (RN/NP/CRNA), ATP Pilots, CPA

Flagstar Bank

(All 50 States)

$500M+ Closed Loans

Flagstar Bank was chartered in 1987 and holds around $23 billion in assets, making it a medium sized bank. However, they punch above their weight when it comes to mortgages.

The bank is the sixth largest bank mortgage originator nationally. They only offer ARM products when it comes to doctor mortgages but their ability to lend in all 50 states means they're a player at every closing. There is no application fee or prepayment penalties. They also offer a float down, buy down, and recast option. [ Read Review ]

Eligible degrees & accreditations:

Medical doctor (MD/DO); Dentist (DMD, DDS), Pharmacist (Pharm D), Attorney (JD), Veterinarian (DVM), Physician Assistant, Registered Nurse (RN/NP/CRNA), ATP Pilots, CPA

Down payment Financing
0% up to $1 million
5% up to $1.5 million
20% up to $2 million
  • Minimum credit score: 700
  • Maximum loan: $2,500,000
  • Residents / fellows accepted: Yes
  • Construction loans available: Yes
  • Income history: Not required
  • Rate options: ARM Only
Match Banks Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD, DO); Dentist (DMD, DDS); Veterinarians (DVM), CRNA, Fellows, Residents

First National Bank of Pennsylvania

(DE, FL, GA, MD, NJ, NC, NY, OH, PA, SC, TN, VA, DC, WV)

$50M+ Closed Loans

First National Bank of Pennsylvania is the second largest bank based in Pennsylvania and has an aggressive doctor mortgage program with 0% financing up to $1.25 million.

The First National Bank of Pennsylvania physician mortgage program is open to most medical professionals and has a construction to permanent loan option available for medical professionals that want to combine the benefits of a doctor mortgage with a new construction custom build home. [ Read Review ]

Eligible degrees & accreditations:

Medical doctor (MD, DO); Dentist (DMD, DDS); Veterinarians (DVM), CRNA, Fellows, Residents

Down payment Financing
0% up to $1.25 million
10% up to $1.5 million
  • Minimum credit score: 700
  • Maximum loan: $1.5 million
  • Residents / fellows accepted without prejudice: Yes
  • Construction loans available: Yes
  • Required reservers: Not reported
  • Rate options: ARM and Fixed
Match Banks Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD); Dentist (DMD, DDS); Fellows, Residents

Citizens Bank

(CA, CT, DC, DE, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, NC, NH, NJ, NY, OH, OR, PA, RI, SC, TN, TX, UT, VA, VT, WA, WV)

$500M+ Closed Loans

Citizens Bank is one of the largest banks in the United States. We bet you didn't know that it is head-quartered in the smallest state: Rhode Island.

With over $160 billion in assets, it's no surprise that Citizens offers a full range of financial products, including a physician loan. New medical professional graduates who are under contract for residency within 60 days of closing and have not yet obtained a license are eligible. No more than 10 years out of residency. Self-employed professionals are eligible with a two-year history of self-employment income. [ Read Review ]

Eligible degrees & accreditations:

Medical doctor (MD); Dentist (DMD, DDS); Fellows, Residents

Down payment Financing
5% up to $850 thousand
10% up to $1 million
15% up to $1.5 million
  • Minimum credit score: Not reported
  • Maximum loan: $1.5 million
  • Residents / fellows accepted without prejudice: Yes
  • Construction loans available: Yes
  • Required reservers: None
  • Rate options: ARM and Fixed
Match Banks Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD); Dentist (DMD, DDS); Podiatrist (DPM), Veterinarian (DVM), Fellows, Residents

Huntington Bank

(CO, IL, IN, KY, MI, MN, ND, OH, PA, SD, WI, WV)

$500M+ Closed Loans

Huntington Bank operates primarily out of the Midwest.

Huntington's mortgage group can service a large part of the country. Huntington has a competitive physician loan product with no money down financing options.. You can close a Huntington Bank loan prior to starting new employment as long as you have an employment contract in hand. [ Read Review ]

Eligible degrees & accreditations:

Medical doctor (MD); Dentist (DMD, DDS); Podiatrist (DPM), Veterinarian (DVM), Fellows, Residents

Down payment Financing
0% up to $1 million
5% up to $1.25 million
10% $2 million
  • Minimum credit score: 700
  • Maximum loan: $2 million
  • Residents / fellows accepted without prejudice: Yes
  • Construction loans available: No
  • Required reservers: 2 months
  • Rate options: ARM and Fixed
Match Banks Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD, DO); Dentist (DMD, DDS); Optometrist (OD), CRNA, Fellows, Residents

Arvest

(AR, KS, MO, OK)

$50M+ Closed Loans

Arvest is headquartered in headquartered in Bentonville, Arkansas and is almost entirely owned by the Walton family (Walmart).

The Arvest physician mortgage program can finance up to 103% of the purchase price, allowing you to use the additional 3% for closing costs. They can also accept up to a 50% debt to income ratio, making it useful for professionals graduating in specialties with high student loan debt. [ Read Review ]

Eligible degrees & accreditations:

Medical doctor (MD, DO); Dentist (DMD, DDS); Optometrist (OD), CRNA, Fellows, Residents

Down payment Financing
0% up to $1.25 million
5% up to $1.75 million
  • Minimum credit score: 660
  • Maximum loan: Not reported
  • Residents / fellows accepted without prejudice: Yes
  • Construction loans available: No
  • Required reservers: Not reported
  • Rate options: ARM and Fixed
Match Banks Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD, DO); Dentist (DMD, DDS); Attorney (JD), Fellows, Residents

First Bank

(CA, IL, KS, MO, NE)

$50M+ Closed Loans

First Bank, with a 100-year history of family ownership, offers a range of banking services and is headquartered in Missouri?.

The First Bank Physician Mortgage Program is designed to assist professionals, including doctors, dentists, and lawyers, with their mortgage needs. It offers the option to finance a single-family home or housing in a planned unit development. The program allows professionals to qualify for a mortgage based on contracted income levels, facilitating the relocation process. It provides low down payment options and no requirement for private mortgage insurance, which can be particularly beneficial for professionals in transition or establishing their practice. [ Read Review ]

Eligible degrees & accreditations:

Medical doctor (MD, DO); Dentist (DMD, DDS); Attorney (JD), Fellows, Residents

Down payment Financing
0% up to $400 thousand
5% up to $1 million
  • Minimum credit score: 700
  • Maximum loan: Exceptions made
  • Residents / fellows accepted without prejudice: Yes
  • Construction loans available: No
  • Required reservers: Not reported
  • Rate options: ARM and Fixed
Match Banks Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD/DO); Dentist (DMD, DDS), Fellow, Resident, Optometry (OD), Pharmacist (PharmD), Lawyer (JD)

UMB Bank

(AZ, CO, KS, MO, NE, OK, TX)

$500M+ Closed Loans

UMB Bank has one of the few 0% down mortgages available to lawyers, so is popular among the attorney crowd. They have a small footprint but can be a good bet for doctors too.

The UMB Bank program is limited to just seven states, so that's a major downside if you are outside of their lending footprint. The good news is that a wide range of doctors qualify for the program, including Pharmacists and Optometrists, both of which are sometimes excluded from lending programs. [ Read Review ]

Eligible degrees & accreditations:

Medical doctor (MD/DO); Dentist (DMD, DDS), Optometrists (OD), Pharmacists (Pharm D)

Down payment Financing
0% up to $1 million
5% up to $1.5 million
10% up to $2 million
  • Minimum credit score: 700
  • Maximum loan: Contact to discuss
  • Residents / fellows accepted: No
  • Construction loans available: No
  • Income history: Not required
  • Rate options: Fixed and ARMs
Match Banks Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD/DO); Lawyers(JD), Residents, Fellows

US Bank

(All 50 states)

$500M+ Closed Loans

US Bank has a great doctor mortgage program but it isn't advertised on the bank's website. You'll have to contact them directly.

US Bank is able to lend in all 50 states, meaning this program is available to most of the country's doctors and physicians. The downside is that the program is fairly limited. For example, dentists, pharmacists and nurses aren't eligible. [ Read Review ]

Eligible degrees & accreditations:

Medical doctor (MD/DO); Lawyers (JD), Residents, Fellows

Down payment Financing
5% up to $1 million
10% up to $1.5 million
15% up to $2 million
  • Minimum credit score: 700
  • Maximum loan: Contact to discuss
  • Residents / fellows accepted: Yes
  • Construction loans available: Yes
  • Income history: Not required
  • Rate options: Fixed and ARMs
Match Banks Contact Send Email

Online

usually responds within 30 minutes

Eligible degrees & accreditations:

Medical doctor (MD, DO); Resident, fellows

Union Bank & Trust

(KS, NE)

$50M+ Closed Loans

Union Bank & Trust is headquartered in Lincoln, Nebraska and offers a narrow doctor mortgage progrom to doctors only.

Union Bank & Trust's physician mortgage program doesn't have PMI and can use a signed employment contract as proof of income during the loan application process as long as residency or employment will start within 60 days of closing. [Read Review]

Eligible Professions:

Medical doctor (MD, DO); Resident, fellows

Down payment Financing
0% down up to $500 thousand
5% down up to $1 million
10% down above $1 million
  • Minimum credit score: Not reported
  • Maximum loan: Exceptions made
  • Residents / fellows accepted without prejudice: Yes
  • Construction loans available: No
  • Required reservers: Not reported
  • Rate options: ARM and Fixed

Is a Kansas physician mortgage loan right for you?

If you are thinking, “Is a Kansas physician mortgage loan right for me?” you may want to ask yourself a few additional questions. To start with, are you ready to plant roots in your part of Kansas? Are you committed to your job and enjoying it? Then, one of these loans may well work for you. 

Also ask yourself how you feel about paying a higher interest rate. You might think  that it is a good price to pay for all the advantages you get with a doctor mortgage; if not, you can always wait and save up toward a down payment on a conventional loan. 

Examples of doctors who take out physician loans in Kansas 

Who are some of the professionals, dentists, and physicians taking out doctor mortgages in Kansas? They range from residents who haven’t yet saved up for a down payment to seasoned pros looking for more options than conventional mortgages offer. 

Resident who doesn’t have down payment

Polly may have an old-fashioned name, but she’s positioned to one day be at the cutting edge of her field. She’s starting an internal medicine residency at KUMC, and her ambition, work ethic and drive are sure to take her far. She has plans to stay in the area in the long term and wants to settle in a home now before she gets too busy.

She hasn’t been able to save up for a significant down payment yet, however; she barely has enough extra savings to make a 3.5 percent down payment on an FHA loan. A doctor mortgage is ideal for her, as an alternative, offering her 100 percent financing with no PMI. 

Doctor who wants to maximize stock investments

Robert is an important figure in Wichita, having established a popular plastics practice and having served for years on various charitable boards. He has been careful with his money, investing it in a well-performing portfolio. Now that he wants to buy a larger home for his family, however, he doesn’t necessarily want to start selling his holdings in order to make a large down payment on a conventional loan. Instead, he’s going with a doctor mortgage that offers 100 percent financing, which will allow him to maximize his leverage. 

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.

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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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