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
How to Begin
Start by approaching TTMF to be pre-qualified. Pre-Qualification allows us to review your affordability. Your current age, the amount you regularly earn per month and the amount of debt you service will all impact your mortgage affordability. The resultant mortgage amount you can service is detailed to you in our Pre-Qualification Certificate.
After you locate a piece of land, begin by submitting all the required documents and fees to begin our application process.
More Information
Required Documents
Standard Documents
- Evidence of Nationality (2 Forms of ID)
- National Insurance (NIS) Number
- Income Tax (BIR) Number
- Evidence of Income
- Evidence of Savings & Indebtedness
- Most Recent Credit Card Statement(s)
- Title Deed or Lease & Mortgage Deed
- Valuation Report
- Up-to-date receipts for Land & Building Taxes, Water & Sewerage Rates & Lease Rent
- WASA Clearance Certificate
- Utility Bill
Other Required Documents
- Survey Plan
- Town & Country Planning approval to develop land for residential purposes
- Regional Corporation Final approval for the development of land
Documents, including Valuation & Quantity Surveyor Reports, to be submitted IN DUPLICATE where applicable.
Evidence of Income: Submit an Original Job Letter & Pay Slip. If overtime is inconsistent, submit 2 TD4 slips for the past 2 years. If self employed, submit Audited Financial Statements for the last 2 years.
Evidence of Savings & Indebtedness: Submit Audited Financial Statements from all Financial Institutions with which you deal, including Credit Unions (monthly payments towards loans must be indicated on these statements).
Fees & Costs
Estimated Application Costs
- Application: $150.00
- Title Search: $1,000.00 (initial)
- Acceptance Fee: 1% of Loan Amount or $500.00 minimum
- Credit Bureau Report: $65.00 per applicant
Initial Payment Requirements
- Attorney’s Fees (Deed Preparation)
- 1 year’s Contractor's All Risk Insurance Premium
