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Mortgage for Residents

Am I Eligible?
See if you are eligible for our Advanced Medical Professional home loan program
Created with physician residents in mind

A mortgage specifically designed for you

If you plan to buy a home at any time during your residency, this is the loan for you. No limits on experience. Due to the fact that you've embarked on your postgraduate training or residency journey, you have a unique borrower profile that often prevents you from obtaining a mortgage from a typical mortgage lender. You are likely to face several hurdles in obtaining a mortgage as a resident. We work with your individual circumstances and scenario to get you into your dream home. Our resident mortgage programs were developed for your unique situation and borrower profile. We'll work with your student loans, downpayment requirements, and help you get into your dream home.

Why Us?

Bank of Texas and Scott Wells

From the time you apply for your physician home mortgage loan, until the day you close and get the keys to your new home, our specially trained and experienced staff manages and oversees the entire loan process. Your loan officer, Scott Wells, has been specializing in physician lending since 2010.

How's it work?

The mortgage process for physicians

  • Pre-Qualify

    Medical residents, fellows, practicing physicians, and dentists with employment contracts. US Citizens, Permanent Resident Aliens, and Non-Permanent Resident Aliens.

  • Mortgage Loan Approval

    100% financing up to $750,000 loan amount with no PMI. 95% financing up to $1,500,000 loan amount with no PMI. Single-family homes and townhomes allowed. Condominiums allowed but must meet warrantable guidelines per Fannie Mae

  • Close & Move In

    Your trusted loan officer Scott Wells working in tandem with your real estate agent will help you throughout your journey to homeownership and financing. We work hard to get you a quick and efficient close.

Physician & Advanced Medical Professional Mortgage Program

  • 100% financing with competitive pricing and unique qualifying criteria on various loan products
  • No down payment required
  • Primary residence only
  • Purchase or refinances (no cash-out)
  • Fixed and variable rate options
  • Student loans deferred greater than 12 months from closing are not considered in debt to income ratio
  • Specialty underwriting for 1099 and contract employees
  • Discounted 0.125% interest rate option available for borrowers who have a qualifying BOKF checking/savings account and agree to make mortgage payment via ACH from that account
Get Started

A "qualified borrower" is typically a medical resident, fellow or attending physician with a signed contract for employment.

Including:

  • Physicians (MD, DO, DP)
  • Medical Residents or Fellows in MD, DO or DP programs
  • Dentists (DDS and DMD)

While we can facilitate a doctor mortgage nationwide, we typically deal with borrowers in the Dallas, Houston, San Antonio, and Austin metro areas. We can lend all over the state of Texas though as well as our bank footprint states. Those states include TX, OK, CO, AZ, AR, KS, MO, NM. 

This program allows for up to 100% financing, competitive pricing and unique qualifying criteria based on various loan products. No down payment required.

Loan to Value Details:

  • 100% financing up to a $1,500,000 loan amount with a minimum of a 700 credit score
  • 95% financing up to a $1,750,000 loan amount with a minimum of a 700 credit score
  • 90% financing up to a $2,000,000 loan amount with a minimum of a 700 credit score
  • 85% financing up to a $2,250,000 loan amount with a minimum of a 700 credit score

Typically contract start dates are within 90 days of the loan application, but we make the decision on a case by case basis.

No, as long as there is a signed employment contract in place with a start date of less than 90 days out.

Specialized Mortgage Guidelines

Physician & Advanced Medical Professional Mortgages Benefits

Zero Downpayment

Physician mortgages require very little to no downpayment. This means you can get into a home for a lot less money than it would take other types of borrowers. The extra savings helps put you in a beneficial position so that you don't have to deplete your savings just to move into your new home.

Student Loan Consideration

Student loans are often a barrier because they create a high debt to income ratio, our physician-based mortgage programs can factor those out of the equation allowing you to qualify for a larger mortgage amount.

Future Income Consideration

We look at your future income vs your past income. Typical mortgages require the average of your last 2 years of employment and use that as your basis. However, we understand that often times a new or recent contract provides you with a higher income level and it's rather secure so we can even get your approved for financing before you've begun working at a new location.

Getting into your new home is just a click away

From the time you apply for your physician home mortgage loan, until the day you close and get the keys to your new home, our specially trained and experienced staff manages and oversees the entire loan process, schedule a free consultation today to get started.
Schedule Free Consultation