UMB Bank Physician Mortgage Loans

UMB Financial Corporation Physician Mortgages—For Doctorates of Many Types

UMB Bank Physician Mortgage Loans

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Earning Your Doctorate Comes with Benefits

The Ph.D. The M.D. The Ed.D. Each of these ends with a “D”, designating you as a “Doctor.” Earning your doctorate, of any area of study, requires immense dedication and desire to learn. It is viewed in most situations, as a license to teach, and evidence of the earner’s research abilities (many degrees requiring a thesis or dissertation). Along with additional career opportunities, the doctorate degree garners recipients with earning nearly 50% more than those with only a bachelor’s degree.

With such a high-income potential, earners of doctorate degrees are ideal banking customers and low-risk borrowers. Therefore, attractive financing options, like not requiring private mortgage insurance, are offered to doctors and other doctorate-degreed professionals. Private mortgage insurance, a cost added to loans when less than 20% is put down on a mortgage, is designed to benefit the lender in case a mortgage holder is unable to make payments and forecloses on their home. This adds an amount, usually .5% to 1% of your loan amount, on an annual basis, representing thousands of dollars a year. So, your doctorate degree can save you thousands of dollars—a good thing to consider the next time you pay your medical school bill!

The Lenders

As the economy experiences normal fluctuations, the demand for mortgages and attractive mortgage terms changes with it. Potential borrowers with lower credit rating, little money to put down on their purchase, or without a long employment history may experience times when they aren’t eligible for competitive terms, or may not be able to purchase a home at the price level they have it mind. This is when your “Doctor” designation pays off. Physicians are in an ideal position, having some definite job security and keeping their outstanding earning potential. Doctors are still one of banks’ best customers—hence the reason that lenders offer rewarding mortgage packages to make home buying a reality for individuals who have spent their time in an advanced education and additional training. In both good and bad economic times, lenders focus their efforts providing financial services to physicians and doctorate-bearing professionals, rewarding them for their low risk.

Considered one of America’s best banks, UMB Financial Corporation began in 1913 as City Center Bank in Kansas City. Years of acquisitions and expansion has landed UMB in its position of success, and it has locations in 8 states in the Midwest and high plains regions, serving an additional 39 states across the country. UMB Bank (a UMB Financial Corporation subsidiary) offers personal banking, commercial banking, healthcare services and institutional banking, as well as services to mutual funds and alternative-investment entities and investment advisory firms.

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What Makes UMB Bank’s Mortgage Portfolio Professional Loan Program special:

Minimum Credit Score


States Available

50 states

Loan Amounts For Residents & Fellows

Up to $2,000,000
Close 60 Days prior to Start Date of New Employment Contract

Loan Amounts For Practicing Physicians

Up to $2,000,000
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

Eligible borrowers include

Doctor of Medicine (MD)
Doctor of Osteopathy (DO)
Doctor of Dental Surgery (DDS)
Doctor of Medicine in Dentistry (DMD
Doctor of Optometry (OD)
Doctors of Chiropractic (DC)
Doctor of Pharmacy (PharmD)


30/20/15Year Fixed Rate Loans
Owner Occupied and Second Homes
Single Family, Condo and Townhomes (No Multi-Family Properties)
Max DTI is 43%
No Mortgage Insurance (PMI)
3 Months Reserves Required
No Gift Funds Allowed
Escrow for Taxes and Insurance is Required

Ranking multiple times in the last ten years by Forbes as one of America’s best banks, UMB Bank and UMB Financial Corporation are proud to offer a tremendous variety of financial services. From health care solutions to private wealth management, UMB Financial Corporation provides customers with a one-stop location for all private and commercial banking needs. Awarded by St. Louis Business Journal as a finalist for the Healthiest Employers in 2019, UMB supports its eligible team members with 16 hours of paid time off to volunteer in their respective locations, exhibiting a strong commitment to each community they are found in.  If you are looking for a fixed rate loan with no PMI, consider UMB Bank.  To browse through the other physician mortgage lenders we discuss, check out our other reviews.

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