A loan specifically designed for Medical Professionals
The career paths of medical professionals—from licensed and practicing doctors to dentists, medical residents and fellows—often involve unique circumstances that create unique borrowing needs.
The Merrimack’s Professional Loan is specifically designed to meet those needs, with benefits that include:
Loan closing prior to job start. You can get loan approval up to 90 days prior to beginning a new position.
Low down payments. Put a minimum of 5% down on mortgages not exceeding $1 million (10% down on mortgages not exceeding $1.5 million).
Choice of loan types. Choose the best terms for you, including 10-30 year fixed or adjustable-rate.
Please note that there are some conditions that must be met, including:
- The loan must be for a primary, single-unit residence.
- The applicant must have at least a 2-year history of work or education in their current line of work.
- Employment offer must be non-contingent, or any contingencies must be met prior to loan closing.
- Other documentation and requirements may apply.
As a medical professional, you lead a demanding life. That’s why The Merrimack is committed to helping you throughout the entire loan process—from application to closing.