Mortgage Loan
Are you thinking of home ownership but unsure what your next step should be? SJCCU has a mortgage solution that is right for you. We finance house only purchase, house and land, as well as, home building projects.
**Download and complete our loan application form.
- Borrow up to EC$600,000.00
- 10% Deposit
- Processing fee never higher than $1,500 – compares favourably to “Closing Cost”
- Up to 30 years to repay
- Extra repayments to pay-off your loan quicker are allowed (conditions apply)
- A Mortgage Savings Club (MORSA) to help you save toward your Cash Deposit
*Terms subject to change at any time
- Life Insurance Policy to the value of the loan
- Repayment includes Compulsory Savings, Property Tax Savings and Insurance Savings
- 1st year’s Home Insurance Coverage
- A signed detailed Estimate of material cost (from a hardware store) and construction cost, which should be outlined according to each Stage of the project, and include labour, transportation, retention and any other miscellaneous costs.
- At least three letters of references from the Contractor/Builder regarding their workmanship.
- A signed contract from the Contractor/Builder inclusive of a work schedule outlined according to stages, if separate to the Estimate.
- For the purchase of a house/property, a member is required to present a letter of sale from the owner, stating all the necessary information pertaining to the sale of the house/property and property valuation report.