JN Home Loans

Here at Jamaica National, our policy is that everyone should own a home so we are making it easy!

Once you are 18 years or older, you can apply for our JN HOME LOANS. These loans are ideal for persons who are purchasing a lot, building a home or purchasing a home for tenanted or owner occupied purposes. Up to 85% financing is offered in Jamaican Dollars for purchasing and building home and 70% financing in other currencies.

You can also obtain 75% or 50% financing for land only purchases. The lending ratio for land is dependent on whether there is infrastructure.

We believe in giving our members more negotiating power and therefore we are offering you an opportunity to get a pre-approval! This means that you would be given a mortgage offer before you actually go house hunting, whether you are a first time home owner or not. See FAQ.

What do you need help with, your deposit and mortgage expenses or to buy furniture? Continue to enjoy our cash back offer of up to 10% of your purchase price in cash at disbursement if you apply for 85% financing! You are free to use your cash back however you want. See FAQ.*

There is more...ASK ABOUT OUR JOINT MORTGAGE FINANCING

Apply for our JN Joint Mortgage Financing Mortgage Programme and take advantage of the opportunity to combine your JNBS loan with your NHT benefits for a higher loan sum...more

How does it work?

You don't need a JN savings or investment plan to qualify. However, you need to make a deposit to the vendor with whom you need to negotiate.
You can borrow up to 85% of the valuation or purchase price (whichever is lower) of the home you want to buy.
Ability to service will determine how much we will lend you*

* Conditions apply for amount exceeding J$10 million. Cost of Stamp Duty, Registration and any shortfall in closing costs are not covered from "cash back" and should be lodged to your savings account at the time that the application is made.

Benefits

No previous savings account is required. However you will be required to open a savings account before the loan is disbursed.
Your loan will be approved within 48 hours upon submission to the Mortgage Department providing that all the documents for processing are in order.
No application or commitment fees.
You decide the loan term. The maximum loan term is 35 years and we will tell you how much to pay monthly*.
The loan can be used to purchase a house, buy residential lot or build on land.
A list of JN valuators is available for you to select one to value your property.
You may choose a Registered Commissioned Land Surveyor of your choice to survey the property.

Requirements

Credit score Report
Sales Agreement (duly completed)
Photocopy of Certificate of Title
Valuation Report showing picture of property (we require you to have the report done by a Valuator from the list provided by JN).
Income Verification Letter
Last pay slips for two months' salary
If self-employed, Statement of Income Confirmation is required from a Chartered Accountant, Cash Flow Projection, Bank Statement, Business License or Registration Certificate
Proof of age (Passport, Driver's Licence, Alien Registration Identification Card or Elector Registration Identification Card)
Registered Commissioned Land Surveyor's Report
Property Tax Certificate
Closing Cost of approximately 6% of the loan amount to be lodged to a JN savings account.
Approved Plan (if applicable)
Detailed Builder's estimate (if applicable)
NHT processing fee (if applicable)
NHT Referral Letter (if applicable).

If you are purchasing your home today, then come right on in to see us.
*Conditions Apply