Lending Rates
Mortgage rates - Provided June 2010
|
Jamaica National Building Society
|
Percentage (%)
|
|
General Rate
|
|
|
Residential Home Loans - 85% financing
|
14.49%
|
|
First Caribbean Building Society
|
|
Residential Home Loans
|
|
|
90% financing up to $15m for persons under 65 years old
|
15.50%
|
|
Vacant Lots – 90% financing
|
15.50%
|
|
VMBS Building Society
|
|
Residential Home Loans
|
|
|
(non-saver) 75% financing
|
15.49%
|
|
(saver) 75% financing
|
13.99%
|
|
(saver) 85% financing if NHT qualified
|
13.99%
|
|
Vacant Lot - 70% financing
|
16.99%
|
|
Commercial - 60% financing
|
24%
|
|
Scotia Jamaica Building Society
|
|
Residential Home Loans
|
|
|
75% - 90% financing depending on application
|
15.50%
|
|
Vacant Lot - up to 80% financing depending on application
|
15.50%
|
To get a mortgage you need the following:
· Signed Sales agreement.
· Surveyors Identification
· Appraisal of the Property Value
· Proof of Age
· Proof of Earning
There are additional costs for:
· Mortgage application
· Attorneys fees
· Registration of Mortgage
