Mortgage
Loans
Liberate your rate with a mortgage from Sagicor Bank. Let us work with you every step of the way to buy the home of your dreams.
Mortgage loans are available to:
- Purchase residential property
- Build residential property
- Refinance an existing mortgage
- Access home equity loans for investments, emergencies, consolidate debts or other major expenses
Minimum requirements- To qualify for a mortgage loan you must:
- Job letter from employer and last 3 pay slips
- If self-employed - audited / management accounts for the business for the last 3 years, supported by bank statements for the same period
- Valid identification – driver’s license, passport or national identification
- Tax Registration Number (TRN)
- Proof of Age – birth certificate or passport
- Proof of address – preferably in the form of a utility bill
- Most recent utility bills
- Last three (3) rent receipts if applicable
- Written confirmation of existing indebtedness
- Proof of funds to complete the transaction
- Proof of ownership of existing assets
- Evidence of deposit or statement from Attorney holding carriage of the sale
- Copy of signed Sales Agreement
- Valuation Report for the property to be purchased
- Surveyor’s ID Report for the property to be purchased
- Copy Certificate of Title for property to be mortgaged
- Any other documents deemed necessary by the Bank
| Mortgage Type | Purpose | Rate | Value financed (%) | Fees (GCT to be added) | Term | Amount |
|---|---|---|---|---|---|---|
| Owner Occupied | Purchase | Get 7.5% up to J$20M. Additional amounts- 10.5% | 90% |
Commitment Fee = . 1.25% of loan amount Processing fee 1% |
3 years Fixed at 25 years | $500K -$20M |
| Residential Investment | Purchase | Get 10.5% up to J$40M. Additional amounts- 11.75% | 75% |
Commitment Fee = . 1.25% of loan amount Processing fee 1% |
15 Years | $500K-$40M |
| Home Equity | Any customer purpose e.g. home repair | Get 8.5% up to $20M. Additional amounts- 10.75% | 80% |
Commitment Fee = . 1.25% of loan amount Processing fee 1% |
3 years Fixed at 25 years | $500K-$40M |
| Re-Finance (Owner Occupied) | Switching of owner occupied residential loan | Get 8.5% for up to J$20M. | Up to 80% |
Commitment Fee = . 1.25% of loan amount Processing fee 1% |
3 years Fixed at 25 years | $500K-$40M |
Come in branch and talk to us about opening your account.