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HOME LOANS FOR MEDICAL PROFESSIONALS
Designed with you in mind.
Extraco's physician-focused mortgage team has long recognized the special financial needs of our Texas medical physicians and resident customers.
Have Questions?
Our Mortgage Consultants can help!
Why get a Physician Loan with Extraco?
At Extraco Mortgage, we understand the unique challenges faced by Texas physicians and medical residents, such as student loans and new job contracts. That's why we've tailored our home loan options specifically for them, recognizing that conventional and FHA loans often fall short. Our consultants are trained to underwrite loans customized for medical professionals statewide, ensuring a seamless process with competitive terms. With conveniently located branches across the state of Texas, and a range of banking services including Wealth & Trust, Consumer Lending and Insurance, Extraco Mortgage is committed to helping you achieve your dreams.
NO PMI. PERIOD.
• Up to 100% financing on the purchase or refinance of a principal residence
• Up to 100% financing on lot & land loans (in select counties)
• Available to physician fellows, medical doctors, medical residents, or full-time medical instructors across the entire state of Texas
• Fixed and variable terms available
• Single-family residence
• Long-term financing
• 3% seller contributions allowable*
• No private mortgage insurance (PMI)
Flexible credit requirements on our loan terms. Approvals with scores as low as 660 available.
We offer 100% financing on homes up to $750,000, 3% down on homes between $750,000 and $1 million, and 10% down on homes up to $1.5 million.
Typical mortgages require personal mortgage insurance when the down payment is less than 20%. With an Extraco Physician loan, your PMI is waived.
Need fast approvals? Approvals are often available with just an offer letter of employment.
"Extraco has been wonderful. Being first-time home buyers, Extraco Mortgage made the process as seamless and easy as possible. The communication was excellent and it really put us at ease with the whole loan process."
Exclusive benefits
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PREMIER PLUS BANKING
As a medical resident, physician or medical instructor, you qualify for Extraco's Premier Plus Checking account. Receive the highest level of customer service with a dedicated Relationship Manager, rewards and benefits a bank can offer with an exclusive suite of financial solutions to meet your needs.
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INSURANCE SOLUTIONS
We make it a seamless process to add home insurance with your mortgage. Through Extraco's Insurance department, receive a dedicated insurance specialist to ensure you receive the home insurance that best fits your needs. Our insurance specialists can also help you find the best policy for renter's, investment property and auto insurance.
New to Texas? Download our guides to learn more about your new area!
Find Your Nearest Extraco Banks Branch!
With locations across central Texas, we have a branch near you. Find your local branch and make plans to come in and meet the local team today!
*LOANS SUBJECT TO CREDIT APPROVAL
*INSURANCE PRODUCTS ARE NOT DEPOSITS, NOT INSURED BY THE FDIC OR ANY FEDERAL GOVERNMENT AGENCY, NOT GUARANTEED BY EXTRACO BANKS OR ITS AFFILIATES, AND MAY GO DOWN IN VALUE