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FNBO Physician Loan Review (Updated 2024)


Buying a home comes with its own set of financial challenges, especially for medical professionals. First National Bank of Omaha (FNBO) recognizes these challenges and offers mortgage solutions specifically tailored for medical professionals, simplifying the path to homeownership. With a legacy spanning over 165 years and nearly $30 billion in assets, this privately-owned banking powerhouse stands as a beacon of stability, committed to simplifying the homebuying process for physicians, dentists, and other healthcare providers.


What is FNBO?

Established in 1857, FNBO has deep roots in the heartland of America, with its primary banking operations spanning across Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota, Texas, and Wyoming. As the largest privately-owned bank in the nation, FNBO’s unwavering dedication to serving its communities has been the driving force behind its remarkable growth and success.

With a team of over 5,000 dedicated associates, FNBO offers a comprehensive range of financial services, including checking and savings accounts, credit cards, investment planning, and wealth management solutions. However, it is their physician mortgage loan program that stands out as a testament to their commitment to understanding and addressing the unique financial challenges faced by medical professionals.


FNBO’s Physician Loan Program

FNBO understands the challenges of managing hefty student loan debt and unpredictable income for those starting out in a medical career. That’s why they’ve created a mortgage program tailored to ease these burdens for medical professionals. This program caters not only to physicians but also extends its reach to dentists, veterinarians, physician assistants, nurse practitioners, certified registered nurse anesthetists (CRNAs), and pharmacists.

FNBO provides flexible credit and income qualifications that help professionals achieve homeownership, circumventing the usual restrictions of traditional mortgage lenders. This progressive strategy recognizes the substantial earning potential and job stability typical of these careers, facilitating an easier path to owning a home.

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FNBO Physician Loan Highlights

FNBO’s physician mortgage loan program is a comprehensive solution that addresses the diverse needs of medical professionals. These are some of the key highlights that set this offering apart:

  • Loan Amounts up to $1,500,000: FNBO knows that high-end real estate markets can be pricey, so they offer loans up to $1,500,000. This lets professionals secure their dream homes without having to compromise on what they want.
  • 100% Financing Options: FNBO provides the appealing opportunity of 100% financing for loan amounts below $850,000, removing the requirement for a down payment and easing the upfront expenses.
  • Flexible Credit and Income Qualifying Guidelines: Recognizing the significant student loan debt often carried by medical professionals, FNBO adopts a flexible approach to assessing credit and income, ensuring their distinct financial circumstances are considered.
  • No Mortgage Insurance Requirement: Typically, conventional mortgages require private mortgage insurance (PMI) when the down payment is less than 20%. However, FNBO waives this requirement, potentially saving borrowers thousands of dollars over the life of the loan.
  • Streamlined Process: FNBO has put together a team of loan officers who really get the medical field. They work to make sure your mortgage application process is as quick and painless as possible, cutting down on any delays or headaches.

Is a FNBO Physician Loan Right for You?

While FNBO’s physician mortgage loan program offers numerous advantages, it’s crucial to evaluate your individual circumstances to determine if it aligns with your particular requirements and goals. Here are key factors to consider:

  • Career Stage: FNBO’s program is especially advantageous for medical professionals in the early stages of their careers, like residents or those initiating their practices, who might have minimal income history or significant student loan debt.
  • Geographic Location: FNBO’s lending footprint is currently limited to specific states, including Colorado, Iowa, Illinois, Kansas, Missouri, Nebraska, South Dakota, Texas, and Wyoming. If you reside outside of these areas, you may need to find alternative physician mortgage loan options.
  • Down Payment Flexibility: If you have the means to make a substantial down payment, conventional mortgage options may provide more competitive interest rates. However, if your financial situation necessitates a low or no down payment, FNBO’s program could be an ideal solution.
  • Future Career Prospects: FNBO’s program is tailored for professionals with high earning potential and job security. If your chosen field or career path does not align with these criteria, alternative mortgage options may be more suitable.

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Pros and Cons of FNBO Physician Loans

Like any financial product, FNBO’s physician mortgage loan program comes with its own set of advantages and potential drawbacks. Here’s a comprehensive look at the pros and cons to help you make an informed decision:


  • Favorable Treatment of Student Loan Debt: FNBO recognizes the significant burden of student loan debt carried by many medical professionals and takes a more lenient approach when evaluating creditworthiness, providing a much-needed reprieve.
  • Flexible Financing Options: With options ranging from 0% down payment for loans under $850,000 to 10% down payment for loans up to $1,500,000, FNBO offers unparalleled flexibility, catering to diverse financial situations.
  • Competitive Interest Rates: While physician mortgage loans generally carry higher interest rates than conventional mortgages, FNBO’s rates remain competitive, ensuring that borrowers are not unduly burdened by excessive costs.
  • Streamlined Application Process: FNBO’s dedicated team of loan officers, well-versed in the intricacies of the medical profession, ensures a smooth and efficient application process, minimizing delays and frustrations.
  • Acceptance of Future Employment Contracts: FNBO recognizes the unique career trajectories of medical professionals and accepts future employment contracts as a basis for income verification, enabling seamless relocation and homeownership.


  • Limited Geographic Availability: FNBO’s physician mortgage loan program is currently limited to specific states, which may exclude some potential borrowers from taking advantage of its benefits.
  • Higher Interest Rates: While competitive, physician mortgage loans generally carry higher interest rates compared to conventional mortgages, potentially increasing the overall cost of homeownership over the life of the loan.
  • Strict Eligibility Requirements: FNBO’s program is tailored specifically for medical professionals, excluding individuals from other professions who may also benefit from similar financing options.
  • Potential for Over-Borrowing: The flexibility of low or no down payment options can lead to the temptation of borrowing more than necessary, potentially straining future financial resources.

Alternatives to FNBO Bank Physician Mortgage

While FNBO’s physician mortgage loan program may appear attractive, it’s wise to explore alternative options to ensure you secure the most favorable terms and conditions. Here are some alternative choices worth considering:


Flagstar’s physician mortgage is available as an ARM only. They offer 100% financing up to $1MM or 95% financing up to $1.5MM and extend the program to a very wide range of designations. Learn More: Flagstar Physician Mortgage Review


BMO extends physician loans to MD, DDS, DMD, DOs. Residents and attendings can get 100% financing up to $1MM. However, BMO Harris is only in select states. Learn More: BMO Physician Loan Review

First National Bank

First National Bank of Pennsylvania offers physician loans for primary or secondary residences. Designations include MD, DO, DDS, DMD, DVM and PharmD. You can get 100% financing up to $1MM. Learn More: First National Bank Physician Mortgage Review

Key Takeaways

FNBO offers flexible financing options, considers student loan debt favorably, and simplifies the application process, helping medical professionals buy their dream homes without the usual hurdles set by traditional mortgage lenders. It’s really important to take a close look at your own situation, weigh the advantages and disadvantages, and consider other options so you get the best terms possible. The best way to see your options from FNBO and other physician mortgage lenders in your area, request your rates from a physician mortgage broker like LeverageRx.