US Bank Physician Loan Review (Updated 2024)

Up to $1.25 million in financing is available with a 90% coverage, specifically limited to two medical designations.

What is U.S. Bank?

U.S. Bank National Association, also known as U.S. Bank, was founded in Minnesota 50 years ago and serves as a holding company. They offer a wide range of services, including mortgages, payments, investments, banking, and trust solutions, to government entities, businesses, individuals, and other financial institutions.

Employing 72,000 individuals, U.S. Bank ranks as the 7th largest bank in the nation and possesses assets worth over $476 billion. The mortgage department of the bank caters to customers in all 50 states.

According to the Ethisphere Institute, U.S. Bank has maintained a reputation as one of the most ethical companies globally. Despite other banks facing challenges such as data breaches and financial scandals, U.S. Bank has successfully maintained a strong reputation for consumer trust.

U.S. Bank Physician Loan Highlights

U.S. Bank provides physician mortgage loans to medical professionals across all 50 states through their partnership with Leveragerx. They cater to both new residents who are six months away from completing their program and experienced practitioners who have been in the field for ten years. U.S. Bank is pleased to offer financing options for your new home. Here are the key points of the program:

• Designations: MD, DO
• Primary residence only
• 90% financing up to $1.25MM
• 85% financing up to $2MM
• 75% financing up to $2.5MM
• 70% financing up to $3MM

U.S. Bank has limited the availability of their physician loan to a small number of occupations. Among the various doctor home loan programs offered by LeverageRx, U.S. Bank has the fewest eligible medical professionals. Moreover, there is no 100% financing option available, which is uncommon among the numerous loan options catering to doctors.

The physician loan program offered by U.S. Bank offers both fixed and adjustable rate mortgages. These options include 30, 20, or 15 year fixed loans, as well as 7 and 5 year adjustable rate mortgages. Additionally, the program also provides financing for new construction projects.

The U.S. Bank physician loan program has both fixed and ARM options. This includes 30, 20, or 15 year fixed loans, as well a 7 and 5 year ARM. New construction financing is also available.

US Bank Physician Loan Alternatives

If you happen to possess a medical specialty in CRNA or DDS, or simply have an interest in exploring your choices, there are a number of alternatives to U.S. Bank that LeverageRx highly suggests.

PNC

PNC purchased BBVA and now offers a strong doctor home loan program. In 27 states, you can qualify for 95% financing up to $1MM but must be a MD, DO, DDS or DMD.

Learn More: PNC Physician Mortgage Review

First National bank

First National Bank offers 100% financing up to $1.25MM for the following designations: MD, DO, DDS, DMD, DVM, DPM, and CRNAs. The loan is eligible for primary residences or vacation homes.

Learn More: First National Bank Doctor Mortgage Review

Is a Mortgage from U.S. Bank Right for You?

With its wide availability and proven track record, clients of U.S. Bank have access to unique advantages that may not be easily found elsewhere. The loan specialists at U.S. Bank are highly skilled and readily available to address any inquiries. Moreover, you can apply for the mortgage 100% online, which is convenient.

The eligibility criteria set by the bank excludes certain healthcare professionals. Nurse practitioners, dentists, veterinarians, and physician assistants are not considered eligible for U.S. Bank’s physician loan.  There are pros and cons with any lender you may choose, so ask lots of questions, read several reviews and talk to loan officers who will guide you. To get connected with physician mortgage lenders who can help you with your next home, request your mortgage rates today.