Do you have a house lot and need assistance to build your home?
We have Low Income Mortgages to suit your needs.
Interest Rates and Amounts
Special conditions apply for amounts up to $15,000,000.00
Borrower’s Contribution
A minimum of 10% to 20% can be used as Borrower’s Contribution
Repayment Period
To a maximum of twenty-five (25) years. Conditions apply.
Collateral/Security For Loan
- A mortgage over the property (house and /or land) being financed by the bank
- Assignment of adequate fire insurance coverage
- Assignment of the borrower(s) life insurance
Documents Required
Valid National Identification Card or Passport or Driver’s License
Proof of address – Recent utility bill (3 months) or postmarked letter or valid Driver’s License
Employment letter stating current position, date of employment, salary and other cash benefits
If self employed, statement of income or expenses or affidavit of income.
Letter of Assurance from Central Housing and Planning Authority, copy of transport/title or letter of Intent/Agreement of Sale & Purchase if property is being purchased
Certificate of Valuation for property being purchased (from Mr. Barrington / Peter / H.B Curtis/ Patterson Assoc.) along with two recent photographs.
Estimate of construction cost.
An approved Building plan from the relevant statutory body
Receipts for materials/items purchased (for construction commenced)
Statement from other financial institutions, including Hire Purchase Agreements (if applicable) of loan accounts showing balances and monthly installments payable. Satisfactory credit report.
One passport-size photograph per applicant
Character references (two minimum)
Sources Of References – Citizens Bank (citizensbankgy.com)
View related fees here: www.citizensbankgy.com/about-us/fee-structure/
