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Fri 21st Jan, 2022

When it comes to education, children and parents have faced unprecedented challenges during the pandemic. Our government responded and remained committed to the continued education our nation’s children by implementing an online learning system using mainstream digital platforms.

The Trinidad and Tobago Mortgage Finance Company Limited (TTMF) is grateful to support the Ministry of Education’s new system of online learning which is successfully used by both primary and secondary schools across the country.

Among the adjustments required as our children moved towards virtual learning included access to digital devices. Given this circumstance, TTMF equipped one hundred (100) children from primary schools within the burgesses of our five (5) branch locations, with an Amazon Fire HD 10 Tablet. These tablets will be the device that ensures students can effectively attend their online classes and continue their education at this critical stage of their development in preparation for their future. Furthermore, as technology continues to invade the field of education at an increasing pace, these students will now have greater incentive to cultivate scientific skills to enhance their overall academic growth.

The Amazon Fire devices were provided to: Arima Boys’ and Arima Girls’ Government Primary Schools; Raghunanan Road Government Primary; Point Cumana R.C. Primary School; Reform Hindu Primary School and Lambeau A.C. Primary School.

Formed in 1965, TTMF was created to provide accessible mortgage financing to citizens of Trinidad and Tobago. For over five decades, the company has assisted families across the nation to realise their dreams in various ways but primarily in home ownership. TTMF prides itself as being more than just a mortgage company but an institution that has and will continue to be socially responsible. To all our nation’s students, we will continue to support you through your virtual learning experience.

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Thu 20th Jan, 2022

For Millennials, is homeownership really beyond their reach; and is renting really a better option? According to world statistics, Millennials (those born in early 1980’s) make up nearly 40% of the workforce, but their homeownership rates are at least 8% lower than Baby Boomers and Gen Xers. Some say this is because homeownership seems like a very tough decision for millennials as salaries remain stagnant and real estate prices continue to go up. Millennials themselves have cited reasons such as not being able to afford the down payment or qualify for a mortgage, or renting being more convenient and cheaper. In this installment, we seek to show you six benefits to owning a home that can never be met by renting.

  1. Renting really is not cheaper or convenient. When you consider the ever-increasing rent costs as compared to a fixed monthly mortgage payment, mortgage payments will usually be lower. If you measure what you are likely to pay in rent versus mortgage over a two-year period, you will actually discover that you can save if you own your home. To help you, we have worked out some of the important questions you need to ask when considering a mortgage.
  2. Paying rent is not an investment especially if you are looking to secure your future. With cost of living and inflation on the rise, rents will always rise, but mortgage payments for the most part will remain steady. At TTMF our rates are stable and transparent. Find out more about our Open Market rate and Government Assisted Programmes for first-timers.
  3. The benefits to homeownership are numerous. Financial security and tax deductions as a first-time homeowner rank among the most powerful incentives. As a guide, you can check out our blog on Tax Deductions for First time Homeowners.
  4. Owning your home is always a good long-term investment. Property prices tend to go up so that as the value in your home grows, so will your home equity which you can turn into cash to support refinancing, emergency relief and other financial goals. The challenge for most homeowner hopefuls is accumulating enough cash for the down payment. However, with today’s attractive mortgage options at TTMF for first-time home buyers, that may be less of an obstacle than you think. Read some more about the benefits of home equity here. We also have some good tips on saving for your down payment and saving during the pandemic and beyond.
  5. Mortgage payments may actually be about the same amount as (or less than) what you may be paying in monthly rent. Take a good hard look at your finances and you may discover this. So in fact you will actually get more for your money as a homeowner, because each mortgage payment actually is a step closer to ownership and ultimately a growing investment. You can use our online mortgage calculator to get started on understanding where you stand. We can also help you figure out your potential homeownership costs or discuss the mortgage financing options and coverage that we can provide for you.
  6. The younger you are when you buy a home, the more equity you will accumulate over the years. TTMF can help you navigate the mortgage process and develop a plan to you purchasing your first property.

 

Become Home Smart

We urge those of you may be renting, considering renting or in the market to own, to sit down and weigh the pros and cons. We can help you get to your goals by sharing the multiple ways you can make your dreams a reality.

Subscribe to our Home Smart newsletter to get helpful homeownership tips directly to your inbox or set up an appointment to speak with a knowledgeable TTMF representative to find out more about how we can help you. Get Pre-qualified online in under 1 minute.

So whether you are ready to buy today or in the not-too-distant future or still contemplating your options, we are more than happy to join you on this journey. Allow TTMF to take you from here…to home. Let’s get started…together!