Regions Physician Loan Review (Updated 2022)

Elizabeth Shutty
Elizabeth Shutty

Read Time

4 mins

IN THIS ARTICLE
IN THIS ARTICLE

95% financing up to $1MM for MD, DO, DDS and DMDs.

What Is Regions Bank?

Regions Financial Corporation is a holding company founded in 1971 and headquartered in Birmingham, Alabama. Its subsidiary, Regions Bank, is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management and mortgage products and services.

Regions serves customers across the South, Midwest and Texas. The bank has over 1,400 branches in 15 states and over 1,900 ATM machines. In fact, Regions is the largest deposit holder in Alabama and Tennessee and runner-up in Arkansas, Louisiana, Mississippi, and Florida.

Regions Bank Physician Loan Highlights

The following designations are eligible for a Regions physician home loan: MD, DO, DDS and DMD. However, you don’t have to be currently practicing in order to qualify. Regions extends their physician loans to residents and fellows in addition to practicing doctors. Here are the program’s highlights:

  • Available for purchase or refinance
  • Primary residence only
  • Single family, multi-family, condo
  • 100% financing up to $750k
  • 95% financing up to $1MM

Like most doctor loan programs, Regions does not require medical professionals to pay for mortgage insurance and their debt-to-income requirements are lax. However, the program is not available in all states.

State Availability: Regions is only available in the following (15) states: AL, AR, FL, GA, IL, IN, IA, KY, LA, MS, MO, NC, SC, TN, TX

Don’t see your state?

Click here to see which lenders offer physician mortgages in your state (2 minutes)

Regions Bank Physician Loan Alternatives

LeverageRx was created to help you sort through the doctor home loan programs and decide which one is right for you. Here are a few noteworthy alternatives to consider during your search:

Huntington

Huntington Bank has a larger footprint than Regions and offers physician mortgages to veterinarians, as well as physicians and dentists. They also provide up to 100% financing of up to $1 million, 95% up to $1.25 million, and 90% up to $2 million. Like TD Bank, physician loans apply only to primary residences.

Learn More: Huntington Bank Physician Loan Review

Fifth Third

Fifth Third has been working to help doctors finance their homes for a long time. The bank offers construction financing, 100% financing up to $750k and 85% financing up to $1.5MM for medical professionals with at least 1 year experience.

Learn More: Fifth Third Physician Loan Review

KeyBank

KeyBank is a well-known player in the physician mortgage space. They will offer doctor home loans on primary residences and vacation homes, as well as cash-out refinances (which is rare). Loans are available for up to $3.5 million, including 100% financing on mortgages up to $1MM.

Learn More: KeyBank Physician Mortgage Review

Is the Regions Physician Mortgage Right for You?

The good thing about Regions’ physician loan is they offer 100% financing and don’t require you to purchase mortgage insurance. However, both things are expected in a physician loan program so there’s more to consider. For one, many designations are not eligible at Regions, such as chiropractor, podiatrist, veterinarian and nurse practitioner. Secondly, the bank is only available in 15 states. Third, in order to qualify for a $1MM loan for only 5% down, you must have less than 10 years experience.

If you live in one of the 15 states where Regions operates, then the bank is an excellent choice for financing your home. Like all doctor loan programs, their program offers generous terms when compared to a conventional mortgage.

Regions loan officers are experienced individuals who can answer all your questions and walk you through the entire process of purchasing your home.

Regions Bank FAQ

Is Regions a good place to get a mortgage?

Regions Bank is an excellent choice for physician mortgage loans because they offer lending programs customized for medical professionals early in their careers. What is nice is that Regions also offers business and personal banking services for the doctor out there who likes to keep their accounts under one roof.

Do doctors get better mortgage rates?

Not necessarily. While doctors are considered better lending risks than most other professions, most banks are tied to the same underwriting and federal funds rate as anyone else who is applying for a mortgage. In fact, the lender may charge a slightly higher rate to a doctor since private mortgage insurance is not required. That’s why it’s important to shop between several lenders.

How long does it take for a Regions mortgage to be approved?

As is typical with mortgage lending, you should expect the process to take between 30 and 45 days from application to closing. If you’re a W-2 employee, processing time will be closer to 30 days. But if you’re self-employed, it’ll be on the longer end of the range.

Which Banks Offer Physician Mortgage Loans?

Compare rates, features, and more from the best physician mortgage loan programs of 2022.

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companies match your search (Reset all filters)

  • Company
  • Loan Amounts ForResidents & Fellows
  • Loan Amounts ForPracticing Physicians
  • MinimumCredit Score
  • States available in

States Available

AK, AZ, CO, FL, GA, HI, IA, ID, IL, IN, KS, MI, MN, MO, MT, ND, NE, NM, NV, OK, OR, SD, TN, UT, WA, WI, WY

About

BMO Harris offers doctor loans for primary residences, for purchase or refinance.

  • 100% financing up to $1MM for training or attending
  • 95% financing up to $1.5MM for training or attending
  • 90% financing up to $2MM

States Available

FL, GA, IL, IN, KY, MI, NC, OH, SC, TN, WV

About

Fifth Third Bank offers residents and physicians a primary residence loan for either purchase or refinance:

  • 100% financing up to $750k (training or attending)
  • 95% financing up to $1MM (training or attending)
  • 95% financing up to $1.25MM (attending more than 1 year)
  • 90% financing up to $2MM (attending more than 2 years)

States Available

AL, AR, FL, GA, LA, MS, NC, SC, TN, TX, VA

About

First Horizon’s doctor loan program is available for primary residence, for purchase or refinance:

  • 100% financing up to $1.5MM (training or attending)
  • 95% financing up to $2MM (training or attending)
  • 90% financing up to $2.5MM (training or attending)
  • First National Bank
  • Up to $1.5MM
  • $1.5MM
  • 700
  • 11 states (View states)
  • Learn More

States Available

DC, DE, GA, MD, NC, OH, PA, SC, TN, VA, WV

About

First National Bank offers residents and physicians financing on primary or secondary residences, for purchase or refinance:

  • 100% financing up to $1MM (training or attending)
  • 90% financing up to $1.5MM (training or attending)

States Available

MN, WI

About

Frandsen Bank & Trust’s doctor loan program is available for primary or secondary residences, for purchase, refinance or equity:

  • 95% financing up to $1.25MM (training or attending)
  • 90% financing up to $2MM (training or attending)

States Available

DC, DE, NJ, PA

About

Fulton Mortgage Company has a doctor loan program available for home purchase only on primary residences:

  • 100% financing up to $1MM (training or attending)
  • 95% financing up to $1.25MM (training or attending)

States Available

AR, AZ, CA, CO, CT, DC, 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

About

Huntington Bank’s doctor loan program is available for primary residences, for purchase or refinance:

  • 100% financing up to $1MM (training or attending)
  • 95% financing up to $1.25MM (training or attending)
  • 90% financing up to $2MM (attending)

States Available

AK, AZ, CO, CT, HI, ID, IN, MA, ME, MI, MT, NM, NV, NY, OH, OR, PA, RI, SC, TN, UT, VT, WA, WY

About

KeyBank’s doctor loan program is available for primary or secondary residences, for purchase or refinance. For residents or attending physicians alike:

  • 100% financing up to $1MM
  • 95% financing up to $1.5MM
  • 85% financing up to $2MM

Geographic restrictions may apply.

States Available

MI

About

Level One Bank’s doctor loan program is available for primary residences, for purchase or refinance:

  • 100% financing up to $500k (training)
  • 100% financing up to $1MM (attending 1+ year)
  • 85% financing up to $2MM (training or attending)
  • Mercantile Bank
  • 100% Financing Options
  • 100% Financing Options
  • Call Lender
  • 4 states (View states)
  • Learn More
  • Get Rates

States Available

IN, KY, MI, OH

About

Mercantile Bank’s doctor loan program is for primary residences, for purchase or refinance:

  • 100% financing options for residents & fellows
  • 100% financing options with loan amounts up to $2MM for practicing physicians

Equal Housing Lender

Member FDIC

States Available

AL, AR, FL, GA, IA, IL, IN, KY, MO, MS, NC, SC, TN, TX

About

Regions’ doctor loan program is available for primary residences, for purchase or refinance:

  • 100% Financing up to $750k (training or attending)
  • 95% financing up to $1MM (training or attending)

States Available

DE, IN, KY, MD, MI, NJ, OH, PA, VA, WV

About

S&T Bank’s doctor loan program is available for primary residences, for purchase or refinance:

  • 95% financing up to $5MM (training or attending)
  • TD Bank Logo
  • $1.5MM
  • $1.5MM
  • N/A
  • 16 states (View states)
  • Learn More

States Available

CT, DC, DE, FL, MA, MD, ME, NC, NH, NJ, NY, PA, RI, SC, VA, VT

About

TD Bank’s doctor loan program is available for primary residences, for home purchase only:

  • 100% financing up to $750k (training or attending)
  • 95% financing up to $1.25MM (training or attending)
  • 90% financing up to $1.5MM (training or attending)

States Available

AL, AR, CA, CT, DC, DE, FL, GA, MS, TN, VA

About

Truist’s doctor loan program is available for primary residences, for purchase or refinance.

For training or attending physicians with less than 10 years experience:

  • 100% financing up to $750k
  • 5% down up to $1MM
  • 10% down up to $1.5MM

**if you have been attending for more than 10 years but less than 15, Truist requires a 10% down payment

Elizabeth Shutty

Elizabeth is helping grow LeverageRx and occasionally writes articles. She has written in the past for Investor Junkie and StartupNation.

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