Low-income Housing
Low income earners can now have an opportunity to own their own homes with GBTI’s Low Income Housing Loans. Mortgages can be obtained for up to twenty-five (25) years with the customer’s low contribution of only 10% towards the cost of the house and land. Loans can be accessed whether you are building or buying up to a maximum of $8M.
Interest rates are as follows:-
4.9% up to $3M
6.9% above $3M up to $8M
Documents required to make an application are:
1. Identification card/Passport along with (1) passport size photo.
2. Proof of address (utility bill, rental receipt, etc)
3. Employment confirmation letter and (3) consecutive months’ pay slips
4. Proof of income if self employed
5. Copy of Transport/Title/Lease Document or Letter of Intent / Agreement of Sale & Purchase if property being purchased
6. Certificate of Valuation for property being purchased from a Government Valuation Officer (Officers are located at the Government Valuation Office, Camp Street, G/Town) along with two photographs
7. Estimates of construction cost accompanied by an approved plan
8. Proof of 10% contribution
