Trinidad & Tobago Mortgage Finance

Wednesday, 22nd February 2012

Buy A Home

island-home

Mortgage financing is available for the purchase of residences including single family homes, townhouses, condominiums, apartments, house construction & investment properties.

Loan Features

Interest Rates from 6% - 8%, based on Property Value
Up to 90% Financing
Repayment Term of up to 30 years
Origination Fee of up to 1% of the Loan Amount

Second Mortgages Available
Mortgage Indemnity Insurance is not required
Life Insurance is not required as additional security
No Prepayment Penalties

Build A Home

building-home

Bridging and long-term loans are available to construct a home. Construction must adhere to local building codes and follow designs and specifications approved by local regulatory bodies.

Loan Features

Interest Rates range from 6% - 8%, based on Property Value
Up to 90% Financing
Repayment Term of up to 30 years
Origination Fee of up to 1% of the Loan amount

Construction period limited to 12 months
Mortgage Indemnity Insurance is not required
Life Insurance is not required as additional security
No Prepayment Penalties

Buy Land

buying-land

Financing is available for the purchase of residential building lots and homesteads anywhere in Trinidad and Tobago.

Loan Features

8.0% Interest Rate
Up to 90% Financing
Repayment Term of up to 10 years
Origination Fee of up to 1% of the Loan Amount

Bridge Financing is available for construction, convertible to a long-term loan on completion
Mortgage Indemnity Insurance is not required
No Prepayment Penalties

Home Improvement

woman-interior-blueprint

Upgrading your home can be easy and affordable. You do not need to have an existing mortgage with TTMF. Improvements must adhere to local building codes and follow designs and specifications approved by local regulatory bodies.

Loan Features

Interest Rates range from 6% - 8%, based on Property Value
Up to 100% Financing
Repayment Term of up to 30 years
Origination Fee of up to 1% of the Loan amount

3 to 6 months to complete Improvements
Contractors’ All Risks Insurance
Consolidation of existing Mortgage
Mortgage Indemnity Insurance is not required

Home Equity

family-outside

Tapping into the wealth of real estate is one of the benefits of home ownership. You can obtain equity financing for Investment, Debt Consolidation, Emergencies, & Education.

Loan Features

Interest Rates from 6% - 8%, based on Property value
Up to 90% Financing
Repayment Term of up to 30 years, or the remaining period of the existing loan
Origination Fee of up to 1% of the loan amount

2% Mortgage Programme

moving-couple

If your household income is $8,000 or less, you may qualify for an interest rate of 2% to purchase a home from the Trinidad and Tobago Housing Development Corporation (HDC), Tobago House of Assembly (THA) or Estate Management & Business Development Company Limited (EMBD).

If your income is over $8,000, you will receive an interest rate between 6% - 8%, based on the value of the property. Criteria for the 2% facility: