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To qualify for our Physician Loan program, you must have one of the following degrees, or be a medical resident with proof of a fully executed employment contract:

• Doctor of Medicine (MD)
• Doctor of Osteopathy (DO)
• Doctor of Dental Surgery (DDS)
• Doctor of Medicine in Dentistry (DMD)
• Doctor of Veterinarian Medicine (DVM)
• Doctor of Pharmacy (PharmD)

Medical doctors with degrees listed above but specializing in a particular field, including but not limited to: Dentists, Podiatrists, and Ophthalmologists are also eligible.

A Physician Loan offers several advantages for medical professionals when compared to a traditional mortgage. Here are some of the key benefits:

• Special allowances are made for student loan debt in which deferred payments may not be included with other traditional debts when qualifying for a Physician Loan mortgage.
• Down-payment requirements are lower than traditional mortgages, ranging from zero-down to 15% down.
• There is no Private Mortgage Insurance (PMI) requirement, which saves you money on your monthly mortgage payment.
• Higher loan limits are allowed on a Physician Loan; our program goes up to $1.5 Million.
• If you recently signed a new employment contract, you can close a Physician Loan up to 60 days prior to starting your new job. Your fully-executed employment contract can be used as proof of income instead of pay-stubs.

First Merchants already operates several banking centers in southern Michigan, and, through the merger with Level One Bank, will expand its footprint farther into this area. Together, our companies can offer a wider array of services, better access, and improved banking experience to the region. Both First Merchants and Level One leaders are confident that our planned partnership will benefit our customers, communities, and teammates. And we think that’s something worth talking about. 

Yes. You will see Level One signage transition to First Merchants signage beginning in late summer 2022.

First Merchants Bank may be larger than Level One Bank, but it is not a “big bank.” The four largest banks in the U.S. have asset sizes ranging from $1.6 to $3.3 trillion, and the largest 100 banks in the U.S. have assets averaging $193 billion.

In comparison, the combined assets of First Merchants and Level One only totals $17.6 billion, making your average Top 100 bank 10 times our size.

So, while we’re not a big bank, we’re not small, either – in fact, we’re unique. First Merchants is large enough to offer the at-your-fingertips services you may expect from a larger bank while embodying the friendly, trusted nature a small community bank. That’s because we are a community bank.

We emphasize building trusted relationships with our patrons, greeting our clients by name, and improving the financial wellbeing of our diverse communities. Whether you’re looking for a top-rated mobile banking app, enhanced commercial lending limits, access to comprehensive wealth management and private banking, or for a bank that prioritizes initiatives supporting under-invested communities and local causes, we’re the bank for you. That’s because, at First Merchants, we’re committed to making banking accessible for every member of the communities we serve through our service philosophy, “Helping you prosper.”

We’re not too small, we’re not too large: we’re just right to deliver needed services in a personal, individually tailored way.

If you have deposit accounts at both banks, the FDIC will insure your funds for six months after the legal merger date – in this case, six months after April 1, 2022. This is to provide you time to restructure your accounts if necessary.

Should you need further assistance, First Merchants also operates under the trade name First Merchants Private Wealth Advisors. We would be happy to assist you through this process and help you find the right solution for your hard-won earnings.

If you have questions about your deposit insurance, please feel free to visit any Level One Bank location or call the FDIC directly at 1-877-ASK-FDIC.

We will communicate the exact dates in the coming months; however, you can look forward to having access to First Merchants banking centers in Michigan, Ohio, Indiana and Illinois, including 16 in southeast Michigan, along with expanded product and service offerings, leading mobile apps and extended commercial lending limits later this summer.

Yes, for now! Level One Bank will go through a system conversion later this year. We will communicate further information and instructions to you ahead of time in preparation for this system conversion. Please watch your mailbox and inbox closely throughout the summer for more information and instructions.