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Interviews by appointment only
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Interest rate is 6% to 9%
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Deposit minimum is 10%
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Debt Service Ratio is 40%
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Payment period 10, 20, 25 to 30 years
Document Checklist
Basic (Required for all mortgage applications)
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Application Form
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Referral from Credit Union
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Two (2) Forms of Valid National Identification – Passport, ID Card, Driver’s Permit
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Recent Job Letter (No older than 3 months)
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Recent Pay Slip
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Utility Bill (Proof of Address)
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Statement of Savings (Evidence of Funds to be Held / Equity)
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Sale Agreement with at least 8 weeks before completion and /or Extension Agreement
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Deed / Certificate of Title / Lease Agreement
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Valuation from approved Valuator RICS Approved
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Up-to-date Lease Rent Receipt
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WASA Clearance Certificate
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Up to date WASA Receipt
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Land & Building Tax Receipt
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Town and Country Planning Approval together with the requisite approval from Local Government Authority (as may be requisitioned from the CFF’s Attorneys)
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For recently constructed homes, a completion certificate from requisite local government agency
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Processing Fee of .75% of loan amount
For Self Employed Persons
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Audited Financial Statements for the past 3 years
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Bank Statements for the past 12 months
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Cash Flow Projections for the next 3 years
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Tax Returns
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Last Annual Return
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Registration / Incorporation Documents
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Any other supporting documents (e.g. copies of contracts)
For Mortgages involving Townhouses, Apartments and Condominiums
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Share Certificate
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Evidence of up to date Management Company maintenance fees
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Management Company Bye Laws and up to date Annual Returns
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Consent to Assignment and Mortgage as may be required by the Deed
For Land Purchase
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Up-to-date Land Tax Receipt
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Survey Plan (as may be requisitioned by CFF’s Attorneys)
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Town & Country Planning approval to develop land for residential purposes
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Regional Corporation Final Approval for development of land
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Mortgage Deed (if there is an existing mortgage on the property being purchased)
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Copy of Deed of Release executed in Escrow
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Settlement Letter from Mortgagee advising on the sum required to liquidate the Mortgage as of a specific date together with a daily interest rate:
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Copy of invoice or receipt of payment from Attorney preparing the Deed of Release
Bridging Construction
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Survey Plan
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Settlement letter for Land Loan (if applicable)
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Approved Building Plans (from Town & Country Planning and Regional Corporation) inclusive of Building Permit
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Builder’s Estimate
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Building Contract
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Quantity Surveyor’s Report
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Valuation Report giving the proposed value of house and land
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Contractor’s All Risk Insurance for a period of at least one (1) year
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Upon completion, a Completion Certificate from the Local Government authority and an Electrical Inspection Certificate from T&TEC
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Evidence of funds available to cover cost overruns
Application Form
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