How to Obtain a Physician Mortgage in Kentucky

Obtaining a physician mortgage in Kentucky requires identifying a suitable lender that can meet  your unique needs. To streamline the process, start by comparing lenders operating specifically in Kentucky and offering physician mortgage programs. Working with a specialized physician mortgage broker who possesses expertise in this area can be highly beneficial. A broker will connect you with reputable lenders who understand the distinct requirements of medical professionals, enabling you to compare rates, terms, and down payment options available within the state.

It’s important to note that not all brokers have in-depth knowledge of physician mortgage loan programs. It’s best to work with a broker with specialized expertise in physician mortgages. LeverageRx is available to assist you in finding lenders in Kentucky who specialize in serving physicians and healthcare providers.

After selecting a lender, you’ll need to complete and submit a loan application. Ensure that you are well-prepared to provide all the necessary documentation, including proof of employment, educational background, certifications, and healthcare professional licenses.

Where to Find a Physician Loan in Kentucky

When searching for a physician loan in Kentucky, it is crucial to focus on lenders that offer programs available in the state. This ensures that you work with lenders who possess a comprehensive understanding of the local market and comply with state-specific regulations. Remember that loan programs can vary between states, so the options available in Kentucky may differ from those in other states.

Here are eight reputable lenders offering physician mortgage loans in Kentucky.

BMO

BMO understands the challenges that medical professionals in Kentucky face when it comes to homeownership. With high student loan debt and limited savings, it can be difficult to meet the 20% down payment requirement for conventional loans. That’s why BMO offers a physician loan program designed to eliminate these barriers. Here are the key highlights of BMO physician loans in Kentucky:

• Eligible designations: MD, DDS, DMD, DO
• Up to 95% financing for loans up to $1.5 million 
• Up to 90% financing for loans up to $2 million
• Limited to primary residences
• Mortgages available for both purchase and refinance
• Construction financing options are also available

BMO physician loans are open to qualified licensed medical doctors, residents, and fellows in all states except New York. To learn more, you can read our full BMO Physician Loan Review for detailed information. 

Evolve

Evolve Bank & Trust offers a unique approach with their physician loans, making immediate homeownership a viable option, even for those who would otherwise have to wait for years to qualify.

Here are the key highlights of Evolve physician loans specifically designed for medical professionals in Kentucky:

• Available to MD, DO, DDS, DMD, PA, NP, DVM, CRNA, DC, OD, and DPM. 
• 100% financing for loan amounts up to $1,000,000.
• 95% financing for loan amounts up to $1,250,000.
• 90% financing for loan amounts up to $1,500,000.
• 85% financing for loan amounts exceeding $2,000,000.
• Can be used for primary residences, co-ops, condos, land purchases, and construction financing. 

Note that Evolve Bank & Trust specializes in offering physician mortgages to medical professionals who are within 10 years of completing their residency or fellowship training. Unfortunately, physicians who have been practicing for over a decade are not eligible for these specialized doctor loans. To find the right lender for your needs, you can explore your options through LeverageRx. 

Fifth Third

Fifth Third Bank understands the distinct financial requirements of residents, new physicians, and established doctors in Kentucky. To meet these needs, they offer a specialized physician mortgage loan program. Here are the notable features of Fifth Third’s physician mortgage loans:

• Available to MD, DDS, DMD, DO, and DPM 
• 100% financing for loans up to $750,000 
• 95% financing for loans up to $1 million.
• No PMI Requirement: 
• Fixed and Adjustable-rate loans
• Can be used for purchase or refinance

Fifth Third Bank’s physician mortgage loans are meticulously cater to the unique financing needs of residents, fellows, and established doctors in Kentucky. To gain a comprehensive understanding of this program, we recommend reading our detailed review of Fifth Third Physician Mortgages.

First Horizon

First Horizon offers physician mortgage loans to medical professionals in 14 states, primarily in the southern United States. Here are the program highlights in Kentucky:

• Available to MD, DO, DDS, DMD, CRNA, CPA, DPM
• 100% financing up to $1.5MM
• 95% financing up to $2MM
• 90% financing up to $2.5MM
• Can close up to 6 months prior to employment start date
• No private mortgage insurance (PMI) requirement

Find a First Horizon lender in Kentucky by checking your options with LeverageRx.

Heritage Bank NA

For physicians and medical professionals seeking 100% financing for home purchases in Kentucky, Heritage Bank NA emerges as a favorable choice. Here are the key highlights of Heritage Bank NA’s physician mortgage loan program:

• $0 down payment on homes up to $1 million
• Eligible Designations: MD, DDS, DO, OD, DPM, and DVM
• Available to Practicing and Resident Physicians
• No Private Mortgage Insurance (PMI) Requirement
• Early Move-In Option: move in up to 60 days prior to starting your next position
• Available for Primary and Secondary Homes
• High loan-to-value ratios
• Fixed and adjustable-rate loans

Heritage Bank NA provides a physician mortgage loan program that offers convenience, flexibility, and attractive terms. To take the next step towards homeownership, consider exploring your options with LeverageRx.

Huntington

In Kentucky, medical professionals in a wide range of specialties have access to the Huntington Bank physician loan program. Here are the key highlights of the program:

• Primary Residence Only
• Available for purchase or refinance, no new construction financing
• 100% financing up to $1 million
• 95% financing up to $1.25 million
• 90% financing up to $2 million

Attending Physician Requirement: For loans exceeding $1.25 million, Huntington Bank requires the borrower to have a minimum of one year of attending physician experience. This particular condition makes loans above this threshold unavailable for residents. However, loans below $1.25 million are accessible to physicians in training or attending. To gain a deeper understanding of the Huntington Bank physician loan program and its offerings, we recommend reading our full Huntington Bank Physician Loan Review.

Truist

Truist’s physician loan is available to medical professionals in Kentucky with the following designations: MD, DO, DPM, DDS, DMD. You can be a practicing physician, resident, or fellow. To note, Truist does not consider practicing physicians and dentists with over 10 years experience to be eligible.

• Primary residence only
• Purchase or refinance
• 100% financing up to $1MM
• 95% financing up to $1.5MM
• 90% financing up to $2MM
• Adjustable and fixed rates available
• Can be used for single family homes or condos

As with all doctor loan programs in Kentucky, the debt-to-income requirement is relaxed and you will not pay private mortgage insurance (PMI). Read our full Truist Physician Loan Review here.

US Bank

US Bank offers physician mortgages to medical professionals in all 50 states. Whether you are still in training or have been practicing for a decade, US Bank will finance your new home. Here are the program highlights:

• Designations: MD, DO
• Primary residence only
• 90% financing up to $1.25MM
• 85% financing up to $1.5MM
• 80% financing up to $2MM

You’ll notice that US Bank only offers their physician loan to MDs and DOs. Of all the physician home loan programs on LeverageRx, US Bank includes the fewest medical designations. In addition, there is no loan option with 100% financing. 

Read our full US Bank Physician Loan Review.