How to Pre-qualify


How to Pre-qualify

Once you’ve decided to take the step to purchase or build a home, the process can seem endlessly overwhelming and you may not be sure where to even begin! TTMF is here to help.

The first step you must take is determining your affordable price range. TTMF’s Pre-Qualification process analyses your financial information to help you determine the amount of money you can borrow.

Qualification Criteria

  • Be 18 years & over
  • Be a citizen of Trinidad & Tobago
  • Be acquiring acceptable property anywhere in Trinidad or Tobago
  • Have a sound employment & income history. Temporary/contractual and self-employment are considered
  • Hold a favourable credit history
  • Be able to inject between at least 10% of the property cost or value
  • Be able to service the mortgage instalment in keeping with standard lending criteria
  • Have sufficient funds available to pay the mortgage closing costs/fees
  • The repayment term should not exceed your retirement age or 65 years

Required Documents

  • Evidence of Nationality (2 Forms of ID)
  • Evidence of Income: Submit an Original Job Letter & Pay Slip. If self employed, submit Financial Statements for the last three (3) years and Bank Statements for the last three (3) years, stating the average monthly balance. If you are employed on contract, submit copies of employment contracts for the last three (3) years.
  • Evidence of Savings & Indebtedness – Submit Statements from all Financial Institutions with which you deal, including Credit Unions (monthly payments towards loans must be indicated on these statements).
If you are considering a joint purchase, both yourself and your co-borrower must bring this information.

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