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
A minimum of 10% to 20% can be used as Borrower’s Contribution
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
- 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)