Home Equity
Unlock Your Home's Potential
About the Financing
As a homeowner, your property is a valuable asset that can serve as a source of wealth and financial security. With a Home Equity loan you can leverage the equity in your home for various purposes, including investments, debt consolidation, emergencies, and education.
Key Features
Competitive Interest Rate
Benefit from a competitive fixed interest rate of 6%, ensuring affordability and stability in your financial planning.
Flexible Repayment Terms
Enjoy repayment terms of up to 30 years, providing you with the flexibility to manage your finances according to your needs and goals.
Transparent Fees
Our acceptance fee, capped at 1% of the loan amount or a minimum of $500.00, ensures transparency and clarity throughout the application process.
Cover Major Expenses
Whether you're looking to invest in new opportunities, consolidate debt, handle unexpected emergencies, or fund education expenses, our Home Equity program provides the financing you need.
Take the first step towards unlocking the potential of your home by assessing your financial needs and determining how tapping into your home’s equity can help you achieve your goals.
At TTMB, we understand the significance of your home as an asset and are committed to helping you maximise its value. Explore the possibilities today!
Required Documents
Two (2) copies of all documents must be provided.
Standard Documents
- Evidence of Nationality (2 Forms of ID)
- National Insurance (NIS) Number
- Income Tax (BIR) Number
- Evidence of Income (Job Letter / Pay Slip)*
- Evidence of Savings and Indebtedness**
- Most Recent Credit Card Statement(s)
- Title Deed(s) or Lease and/or Mortgage Deed
- Valuation Report
- Up-to-date receipts for Land & Building Taxes, Water & Sewerage Rates & Lease Rent
- WASA Clearance Certificate
- Utility Bill
Additional Documents
- Certificate of Assessment from the District Revenue Office
- Completion Certificate from the Regional Corporation where property is less than 4 years old
- Documentation to support the use of the funds (as applicable)
For a Townhouse or Condominium-type Home
- Share Certificate
- Registered Management Company Bye-Laws
- Management Company’s Statement on Insurance Coverage and Maintenance Charges with evidence
- Annual Returns for Management Company
*Evidence of Income
Submit an Original Job Letter & Pay Slip. If self employed, submit Financial Statements for the last three (3) years and Bank Statements for the last three (3) years, stating the average monthly balance. If you are employed on contract, submit copies of employment contracts for the last three (3) years.
**Evidence of Savings & Indebtedness
Submit statements from all financial institutions with which you deal, including credit unions (monthly payments towards loans must be indicated on these statements).
Application Costs
What do I need to pay?
Estimated Application Costs
- Application: $150.00
- Title Search: $1,500.00 (initial)
- Acceptance Fee: 1% of Loan Amount or $500.00 minimum
- Credit Bureau Report: $75.00 per applicant
- Site Visit: $800.00 per visit
Initial Payment Requirements
- Legal Fees
- Statutory Fees (Stamp Duty & Registration Fees)
- 3 months’ Rates & Taxes (as applicable)
- 3 months’ Maintenance Fees (as applicable)
- 1 year’s Lease Rent (as applicable)
Receive Property for Sale Alerts
Receive an email notification when TTMB lists Property for Sale.
Buy a Home
Financing for the purchase of residences including single family homes, townhouses, condominiums, apartments and investment properties.
Build a Home
Bridging and long-term loans are available to help you construct the home of your dreams.
Buy Land
Financing for the purchase of residential building lots and land approved for homesteads.
Home Improvement
Upgrading your home can be easy and affordable with our Home Improvement Loans.
Home Equity
Tap into the wealth of real estate to finance future initiatives.
2% Mortgage Programme
If your family income is $14,000 or less, you may qualify for an interest rate of 2%
5% Mortgage Programme
If your family income is $30,000 or less, you may qualify for an interest rate of 5%
