For Home Improvement Projects Owner –occupied Properties
Loans granted to refurbish residential property
- Interest rate of 8.5% value less than or equal to $20M
- Term – up to 40 years
- Up to 85% of property’s improved market value where value is less than or equal to 25M.
- Up to 66.23% of property’s improved market value where value is greater than 25M
- Up to $200,000 free content insurance from JNGI if contents insured are J$1M and over
- 20% Discount on Motor Insurance from JNGI (per policy)
- 10% Discount on membership fees from JAA
- Discounts from JN Discount Merchants
- 10% discount on peril Insurance premium for the 1st year with JNGI Incorrect. Only available for purchases.
- Photocopy of Certificate of Title
- Valuation Report on property as is as well as on completion of enhancement, done by JN approved Valuer
- Income Verification Letter(s) from employer(s) and last two pay slips.
- If Self-employed, Statement of Income is required (for Guarantor)
- Proof of Age (Passport, Driver's Licence, Birth Certificate or National ID)
- Commissioned Land Surveyor's Identification Report
- Up-to-date Property Tax Certificate
- Closing costs for the mortgage is to be lodged to savings account - approximately 5-6% of loan amount
- Application Cost (where applicable)
- Written confirmation of existing loan(s)
- N.H.T. Contribution Verification Letter from employer (optional)
- Tax Registration Numbers (TRN)
- N.I.S. Card (optional)