HOW IT WORKS
Martha's Vineyard Bank underwrites a mortgage for your employee of up to 90% of the purchase price of the home. The Bank then underwrites a second loan for the employer to offer to their employee for up to 7% of the purchase price. The employee provides a down payment for the remaining 3% of the purchase price. There is one closing for both loans and they are both serviced by Martha's Vineyard Bank. It's flexible and easy.
BENEFITS
- One closing for both loans
- Martha's Vineyard Bank services both loans
- Improved work/life balance for the employee
- Shorter commutes reduce environmental impact
- Improved engagement in the community
- Great long-term incentive for employers
- Makes home ownership more accessible