Buy A Home
OPEN MARKET
Buy A Home
Mortgage financing is available for the purchase of residences including single family homes, townhouses, condominiums, apartments and investment properties.
- Interest Rate – 6%
- Up to 90% Financing
- Repayment Term of up to 30 years
- Acceptance 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
After you have been prequalified, you would then need to locate a property within your budget. Once you have identified a property, begin your mortgage application by submitting all the required documents and fees necessary. Learn how to compile the legal documentation required to finance a home in our How-to Guide.
REQUIRED
Standard Documents
- Evidence of Nationality (2 Forms of ID)
- National Insurance (NIS) Number
- Income Tax (BIR) Number
- Evidence of Income (Job Letter / Pay Slip)*
- Evidence of Savings & Indebtedness**
- Most Recent Credit Card Statement(s)
- Title Deed(s) or Lease and/or Mortgage Deed
- Valuation Report
- Up-to-date receipts for Land & Building Taxes, Water & Sewerage Rates & Lease Rent
- WASA Clearance Certificate
- Utility Bill
REQUIRED
Additional Documents
- Agreement of Sale
- Certificate of Good Character (for HDC properties)
- Certificate of Assessment from the District Revenue Office
- Completion Certificate from the Regional Corporation where property is less than 4 years old
FOR A HOME NEEDING REPAIRS
Additional Documents
- Approved Building Plans (from Town & Country Planning Division & Regional Corporation)
- Signed Builder’s Estimate in phased scheduled draw-downs
- Quantity Surveyor’s report where the cost of the renovation/repair exceeds $450,000
- Completion Certificate from the Regional Corporation on completion of required works
TOWNHOUSE OR CONDOMINIUM HOMES
Additional Documents
- Share Certificate
- Registered Management Company Bye-Laws
- Management Company’s Statement on Insurance Coverage and Maintenance Charges with evidence of up-to-date payments
- Annual Returns for Management Company
Two (2) copies of all documents must be provided
*Evidence of Income: Submit an Original Job Letter & Pay Slip. If self employed, submit Audited Financial Statements for the last three (3) years and Bank Statements for the last three (3) years, stating the average monthly balance.
**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).
APPLICATION COSTS
What do I need to pay?
Estimated Application Costs
- Application: $150.00
- Title Search: $1,500.00 (initial)
- Acceptance Fee: 1% of Loan Amount or $500.00 minimum
- Credit Bureau Report: $75.00 per applicant
- Site Visit: $500.00 per visit
Closing Costs
- Legal Fees
- Statutory Fees (Stamp Duty & Registration Fees)
- 3 months’ Rates & Taxes
- 3 months’ Maintenance Fees
- 1 year’s Lease Rent
- 1 year’s Property Insurance Premium
Let our experts
help you on your way.
Get Prequalified
Once you’ve decided to take the step toward owning a home, you must first determine your affordable price range.
STEP 1
Get Prequalified
Our Pre-Qualification Process analyses your financial data to calculate your mortgage amount.
Get a Certificate
Your Pre-qualification certificate eliminates doubt on what you can afford.
Focus Your Search
Conduct a more focused search for property now that you know your price range.
RELATED PRODUCTS
Get the financing you need.
Financing is available for various purposes to help you maximise on your wealth in your home.
BUY LAND
Financing is available for the purchase of residential building lots and land approved for homesteads anywhere in Trinidad and Tobago.
We’ve got you covered.
MORTGAGE COVER
Keep your family covered in the storm of your passing. In the event of your untimely passing you don’t have to leave your family with the additional grief of struggling to make mortgage payments.