Regions Bank offers a physician mortgage with up to 100% financing and no mortgage insurance, but it’s only available in 15 states and limited to specific medical degrees. For physicians early in their careers, it can be a viable option if you meet eligibility requirements and practice within their footprint. However, it’s important to compare it against other programs to avoid missing better-fit options.
If you’re evaluating multiple lenders, start by requesting your physician mortgage rates here.
You can also explore how these loans work more broadly in this physician mortgage loan guide.
What Is Regions Bank And Who Does It Serve?
Regions Bank is a regional U.S. bank headquartered in Birmingham, Alabama, serving customers across the South, Midwest, and Texas. It operates over 1,400 branches and focuses on consumer banking, commercial lending, and mortgage products.
For physicians, Regions offers a dedicated home loan program designed for MDs, DOs, DDSs, and DMDs. The program is available to residents, fellows, and practicing physicians, but it is restricted geographically to 15 states, including Alabama, Florida, Texas, and Illinois.
Because availability is limited, physicians outside these states will need to consider alternative lenders.
What Are The Key Features Of The Regions Physician Loan?
Regions offers a physician mortgage with high financing limits and no mortgage insurance, but only for primary residences. The program includes:
- Up to $750,000 with 100% financing
- Up to $1 million with 95% financing
- No private mortgage insurance (PMI) requirement
- Available for purchase or refinance
- Eligible property types include single-family homes, condos, and some multi-family homes
Unlike conventional loans, physician loans often waive PMI. For context, the Consumer Financial Protection Bureau explanation of mortgage insurance requirements explains that most borrowers must pay PMI when putting less than 20% down, something this program avoids.
However, these features apply only to qualifying borrowers with eligible degrees and within Regions’ service area.
How Does Regions Handle Physician-Specific Mortgage Factors?
Regions provides physician-friendly underwriting, but with clear eligibility limits. The program:
- Allows high loan-to-value financing (up to 100%)
- Does not require mortgage insurance
- Is open to residents and fellows (current practice not required)
- Restricts eligibility to MD, DO, DDS, and DMD degrees
One key limitation is that other healthcare professionals, such as veterinarians, podiatrists, chiropractors, and nurse practitioners, are not eligible under this program.
Additionally, to qualify for 95% financing up to $1 million, physicians typically need fewer than 10 years of experience, which may limit options for more established attendings.
Physician loans often differ from conventional underwriting standards, especially around debt-to-income calculations and student loans. The Federal Housing Administration overview of borrower qualification standards provides context on how traditional mortgage programs evaluate borrowers differently.
LeverageRx Helps You Find the Best Lenders in All 50 States. Click on Your State to Get Started
Where Is The Regions Physician Loan Available?
Regions physician mortgages are only available in 15 states, primarily in the Southeast, Midwest, and Texas. These include:
AL, AR, FL, GA, IL, IN, IA, KY, LA, MS, MO, NC, SC, TN, TX
If you plan to purchase outside these states, Regions is not an option, regardless of your qualifications.
This geographic restriction is one of the most important decision factors for physicians considering this lender.
What Are The Main Limitations Physicians Should Consider?
Regions is a strong option for eligible borrowers, but it is not universally applicable. The main limitations include:
- Restricted to 15 states
- Limited to MD, DO, DDS, and DMD degrees
- Primary residences only (no second homes or investment properties)
- Experience-based constraints for higher loan tiers
These limitations mean the loan may not fit physicians with non-traditional career paths, broader geographic needs, or different property goals.
How Does Regions Compare To Other Physician Loan Programs?
Regions offers competitive financing, but other lenders may provide broader eligibility or higher limits. For example, some programs include additional medical professions or extend availability nationwide.
To compare alternatives, review this overview of medical professional mortgage programs and lender differences.
Evaluating multiple lenders is critical because physician mortgage features, such as eligibility, loan limits, and underwriting flexibility, vary significantly.
When Should Physicians Consider Refinancing Instead?
Refinancing may be appropriate if your financial profile improves after training or if your loan structure no longer fits your needs. For example, once you build equity or stabilize income, conventional refinancing may offer different advantages.
This guide on when to refinance a physician mortgage explains the scenarios where refinancing may make sense.
Regions does allow refinancing within its program, but physicians should compare options before proceeding.
Is The Regions Physician Loan A Good Fit For You?
Regions is a good fit if you are an MD, DO, DDS, or DMD practicing in one of its service states and want high financing with no PMI. It is especially relevant for residents and early-career physicians who may not have significant savings for a down payment.
However, if you fall outside the eligible professions, need financing in another state, or want broader flexibility, you will need to consider other lenders.
Key Takeaways
Regions Bank offers a physician mortgage with up to 100% financing and no PMI, but only for MD, DO, DDS, and DMD borrowers. The program is limited to 15 states, making geographic eligibility a primary constraint for many physicians. Loan features include high financing limits and availability to residents and fellows, but eligibility excludes several healthcare professions. Physicians should compare Regions with other lenders to account for differences in eligibility, loan limits, and flexibility.
Authors
