For more information on our low cost loans and mortgages
call 508-627-1100: John Washbrook x 4123 or Gail Foerster x 4161.

At The Edgartown National Bank, we are a full service independently owned Bank, that has been providing financing for Island properties since 1905. Although we are a small Bank, dedicated to superior customer service, we are also able to provide a wide range of products that Large Financial Institutions offer, for primary, second homes, campground homes, as well as Land and Construction/Permanent Loans. Because we understand the needs of our customers, it is important to us that we provide flexible options to make purchasing or refinancing your home on Martha’s Vineyard a positive experience. These are some of the products that we offer.

Free Pre- Qualification
Get pre qualified to purchase a property. This will not only target the loan amount that would be financially comfortable for you, but will strengthen your buying power.

Fixed Rate Mortgage
Choose a 40yr, 30 yr, 25yr, 20 yr, 15yr or 10 yr fixed mortgage, with the interest rate locked in for the life of the loan.

Adjustable Rate Mortgages
We offer 1/1. 3/1, 5/1, 7/1 & 10/1 ARMS conforming and non- conforming products. The ARMS are fixed for the first 1, 3, 5, 7, and 10 years, then are converted to a one year ARM tied to the LIBOR index. There is also an interest only option.

Jumbo Mortgages
Loans over $417,000 are considered a Jumbo loan. Fixed and Adjustable loans as mentioned above are available for Jumbo loans. Interest only options are also available.

Stated Income Loans
Loan options that work well for the self employed person, or someone retired, where income is
available, but the documentation of the sources may be difficult.

• SIVA Stated Income, Verified Assets
• NIVA No Income, Verified Assets
• SISA Stated Income, Stated Assets
• NINA No Income, No Assets

INTEREST ONLY Loans for both Fixed and Adjustable Rate Mortgages available.

Avoid PMI
We offer 80/20 financing, a combined loan: 80% first mortgage, with a “piggyback” Home Equity. No Mortgage Insurance required. For the borrower that has little or no down payment.

Campground Loans
We offer financing for Campground properties.

Land Loans
We will finance your purchase of land. Your equity in land can be used as part or all of the down payment on the house you might build on it.

Construction/Permanent Loans
Adjustable Rate Mortgage that allows you to draw only on the amount needed during the building process. This saves you interest on the balance of the un-expended funds.