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Physician Mortgage Loans in Montana

Compare current Montana physician mortgage loans from multiple lenders. Get current interest rates and APRs for 30-year fixed, 15-year fixed and adjustable rate mortgage loans for doctors in Montana in seconds.

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U.S. Mortgage Loan Rates

7/157/227/298/58/198/269/99/239/3010/7
Current rates - October 07, 2021
2.99%30-Year Fixed
2.23%15-Year Fixed
2.52%5/1 ARM

Montana Mortgage Loan Facts

At just over 1 million residents, Montana has a relatively small population. Even so this is the state that affords some of the best panoramic views for wide open prairies and massive mountain ranges. It also offers some of the world's best trout fishing. With just over 2,000 resident physicians, the state has room for doctors who want to forge into a rewarding practice. Salaries are slightly higher than average, and while not a huge jump, it offers significant leeway in the home market where affordability is certainly a key factor.

$202,800

Avarage
Home Value

100.7

Cost of Living Index
(31st in the U.S.)

67.3%

Home-ownership
Rate

2,225

Number
of Doctors

Physician Mortgage Loans in Montana

CompanyLoan Amounts For
Residents & FellowsLoan Amounts For
Practicing PhysiciansMinimum
Credit ScoreStates available in
States AvailableAK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
About

About Flagstar Bank
Flagstar Bank is a $16.9 billion savings and loan holding company headquartered in Troy, Michigan. Flagstar provides commercial, small business, and consumer banking services through 99 branches in the state. It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as 90 retail locations in 29 states, representing the combined retail branches of Flagstar and Opes Advisors mortgage division.

Flagstar Doctor Mortgage Program
Flagstar's doctor mortgage program offers no down payment financing up to $850,000 and up to $1.5 million with down payments based on loan amounts. The mortgage loan program is available in all 50 states for both new purchases and refinancing existing mortgage loans. Non-occupant co-borrowers are allowed.

Products available only on 5-1 and 7-1 adjustable rate mortgages; no fixed rates. Flagstar has a minimum credit score requirement of 710.

Pros

  • Available many types of healthcare professionals
  • Can be used for both new purchases and refinancing existing homes
  • Non-occupant co-borrowers are allowed on the loan
  • Can close up to 60 days prior to starting employment
  • No PMI required

Cons

  • Only adjustable rate mortgages available (no fixed rates)

Eligible Borrowers

  • Medical Resident (Educational License)
  • Medical Doctor (MD)
  • Doctor of Dental Surgery (DDS)
  • Doctor of Dental Medicine (DMD)
  • Doctor of Optometry (OD)
  • Doctor of Ophthalmology (MD)
  • Doctor of Podiatric Medicine (DPM)
  • Doctor of Osteopathy (DO)
  • Nurse Anesthetist
  • Nurse Practitioner
  • Clinical Nurse Specialist
  • Veterinarian

Learn More: Flagstar Bank Physician Loan Review

States AvailableAZ, AR, CA, CO, CT, DE, FL, GA, ID, IL, IN, IA, KS, KY, ME, MD, MA, MI, MN, MO, MT, NE, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, UT, VT, VA, WA, DC, WV, WI, WY
About

Huntington Bank offers a doctor loan program for MDs, DOs, DDSs, DMDs, ODs, DPMs, and DVMs. Borrowers can obtain up to $2 million with low down payment options available:

  • 100% financing on loan amounts up to $1M
  • 95% financing on loan amounts up to $1.25M
  • 90% financing on loan amounts up to $2M

Learn More: Huntington Bank Physician Loan Review

States AvailableWY, WI, WA, VA, UT, TX, TN, SD, SC, PA, OR, OK, OH, ND, NC, NM, NH, MT, MS, MN, MD, LA, KY, KS, IA, ID, FL, DC, DE, CA, AR, AZ, AK, AL
About

About NEO Home Loans
Based in Salt Lake City, the NEO Home Loans team is a division of Celebrity Home Loans that focuses on helping medical professionals avoid the landmines during the home buying process. The NEO Home Loans team has helped thousands of medical professionals secure mortgage loans nationwide.

NEO Home Loans Doctor Mortgage Program
NEO Home Loans offers medical loan programs that allow borrowers to obtain up to $1.5 million in financing for new home purchases. Eligible properties include single-family, multi-family, and condo units.

Pros

  • 100% financing up to $750k (not available in all states)
  • Both fixed and adjustable-rate options available
  • Can use gifted or borrowed funds for your down payment

Cons

  • 100% financing not available in all states

Eligible Borrowers

  • Medical Doctor (MD)
  • Doctor of Dental Surgery (DDS)
  • Doctor of Dental Medicine (DMD)
  • Doctor of Osteopathy (DO)
  • Doctor of Optometry (OD)
  • Physician Assistant (PA)
  • Certified Registered Nurse Anesthetist (CRNA)
States AvailableAL, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY
About

About TIAA Bank
Headquartered in Jacksonville, Florida, TIAA Bank was launched in 2018 following the merger of EverBank and TIAA Direct. Built on EverBank's banking model, TIAA Bank provides a full suite of financial services for consumer and commercial customers across all 50 states including deposit, residential and commercial lending products.

TIAA Bank Doctor Mortgage Program
TIAA Bank's doctor loan mortgage program is available to existing medical doctors including DOs, dentists, dental surgeons, and veterinarians who are actively practicing and are within 10 years of completing residency. Mortgage loans start at $200,000 and extend up to $1.5 million on single-family homes and up to $2 million on two-unit properties. This doctor loan program does not require PMI and deferred student loans are excluded from debt calculations. TIAA Bank allows closing up to 60 days prior to starting a new employment position.

Pros

  • Available to borrowers in all 50 states
  • Can be used for both new purchases and refinancing existing homes
  • Can close up to 60 days prior to starting new employment

Cons

  • No 100% financing program available
  • Borrowers that completed residency more than 10 years ago are not eligible for this doctor loan program

Eligible Borrowers

  • Medical Doctor (MD)
  • Doctor of Dental Surgery (DDS)
  • Doctor of Dental Medicine (DMD)
  • Doctor of Osteopathy (DO)
  • Doctor of Veterinary Medicine (DVM)

Learn More: TIAA Bank Physician Loan Review

States AvailableWY, WI, WV, WA, VA, VT, UT, TX, TN, SD, SC, RI, PA, OR, OK, OH, ND, NC, NM, NJ, NH, NV, NE, MT, MO, MS, MN, MI, MA, MD, ME, LA, KY, KS, IA, IN, IL, ID, FL, GA, DE, CT, CO, CA, AR, AZ, AL
About

UMB Financial Corporation (Nasdaq: UMBF) is a $21.5 billion financial services company headquartered in Kansas City, MO, and founded in 1913 - offering personal banking, commercial banking, healthcare services, and institutional banking, which includes services to mutual funds and alternative-investment entities and registered investment advisors.

UMB Bank, n.a., a subsidiary of UMB Financial Corporation, provides a comprehensive suite of banking products and services. The Mortgage Portfolio Professional Loan program is designed to lend to the doctorate professionals who are licensed in their profession.

Eligible borrowers include:

  • MD – Doctor of Medicine
  • DO – Doctor of Osteopathy
  • DDS – Doctor of Dental Surgery
  • DMD – Doctor of Medicine in Dentistry
  • OD – Doctor of Optometry
  • DC – Doctors of Chiropractic
  • PharmD – Doctor of Pharmacy
  • PhD – Doctorate
  • DVM – Doctor of Veterinarian Medicine
  • JD Doctor of Juris Prudence (Attorney)

Maximum LTV options:

  • Purchase: 100%; R/T Refinance: 95%; Loan Limits: $0 - $750,000
  • Purchase: 95%; R/T Refinance: 90%; Loan Limits: $750,001 - $1,250,000
  • Purchase: 90%; R/T Refinance: 85%; Loan Limits: $1,250,001 - $2,000,000

Current products:

  • 30-year fixed rate loan
  • 20-year fixed rate loan
  • 15-year fixed rate loan

Highlights:

  • Available in 47 states (except Alaska, Hawaii, New York, and D.C.)
  • Owner occcupied and second homes.
  • Single-family, condo, and townhomes (no multi-family properties)
  • Minimum FICO score is 700.
  • Max DTI is 43%.
  • No mortgage insurance
  • 3 months reserves required.
  • No gift funds allowed
  • Copy of license needed
  • Escrow for taxes and insurance is required.
  • Close 60 days prior to start date of new employment contract
  • Allows for seller contributions of 3% towards closing cost and prepaids.

Learn More: UMB Bank Physician Loan Review

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