5 Steps to Financing

Welcome to Your Future

Navigating the path to financing can feel overwhelming, particularly if you’re uncertain about the process. At TTMB, we’ve simplified the journey with our streamlined Mortgage Process, ensuring that acquiring your home is both seamless and gratifying. Follow these five straightforward steps:

Embarking on the journey to purchase or build your dream home can feel daunting, but with TTMB, it’s a streamlined and supportive process from the very start.

Determine Your Affordable Price Range

Before diving into the housing market, it’s crucial to understand your financial boundaries. Our Prequalification Process simplifies this by analysing your financial details to establish your affordable price range. Through a Prequalification interview, we evaluate factors such as age, income, and existing financial commitments to provide you with a clear picture of what you can comfortably afford. The outcome? A Prequalification Certificate outlining the mortgage amount within your means.

Benefits of Prequalifying

Gaining your Prequalification Certificate eradicates uncertainties and ensures a focused search for your ideal property. Armed with a defined price range, you can explore homes or lands that align with your preferences and budget without encountering unexpected financial hurdles along the way.

Required Documentation

To initiate the Prequalification Process smoothly, ensure you have the following documents ready:

If you’re considering a joint purchase, both you and your co-borrower must provide the necessary documentation.

Let’s Begin Your Journey

Empower yourself with the knowledge of your financial capabilities. Start your home-buying journey on the right foot by getting Prequalified with TTMB today.

Embarking on the official application process for financing with TTMB is a pivotal step towards realizing your homeownership dreams. Our commitment to excellence ensures a smooth and efficient process tailored to your needs.

Application Submission

Upon arranging interviews for your application submission, it’s essential to present all relevant documents specific to your loan type. In the event that certain documents are unavailable, rest assured, your application can still proceed, contingent upon their submission at a later stage. Your dedicated mortgage officer will provide expert guidance throughout this phase, ensuring clarity and transparency.

Required Fees

To progress with your application, the following fees are applicable:

Upon satisfaction of document requirements, you’ll be prompted to sign our Mortgage Application Form and proceed with the fees.

Offer of Mortgage Loan

Within one working week, expect to receive our Offer of Mortgage Loan for your review and acceptance, marking an exciting milestone in your homeownership journey.

Application Processing

Your application’s processing commences promptly, including:

Let’s Begin Your Journey

Let’s embark on this journey together. Get started now to pave the way towards securing your future home with us.

Congratulations on reaching the stage of accepting financing with TTMB! Our commitment to transparency and clarity is reflected in our Letter of Offer and Loan Agreement, meticulously crafted to empower you with essential information.

Letter of Offer and Loan Agreement

Upon issuance, our Letter of Offer and Loan Agreement will be dispatched to all mortgage applicants. This crucial document extends a discretionary period of 14 days, allowing ample time for review, signing, and payment of requested fees. Within its contents, you’ll find comprehensive details regarding the loan being granted, including:

Embrace this opportunity to solidify your financial future. Review your Letter of Offer and Loan Agreement diligently and embark on the next phase of your homeownership journey with confidence.

Embark on the final phase of securing your mortgage with us by signing the Mortgage Deed and other essential legal documents. Here’s what to expect:

Legal Document Signing

Our dedicated attorneys will coordinate a convenient date with you for the signing of crucial legal documents. Please ensure that on the designated day, you have funds available to cover the balance of legal fees and partial month’s mortgage interest. Prior to your appointment, you’ll receive advisement on the amounts, and invoices will be presented for your convenience. Our authorized attorneys will handle the receipt of your partial month’s interest payment on our behalf.

Interim Interest Calculation

Interim interest, representing the partial month’s interest on the Mortgage Loan, is computed based on the Principal Amount financed and the granted per annum rate, prorated for the number of days from mortgage signing to month-end.


If you’re granted a loan of $100,000 at a 6.00% per annum rate and sign your mortgage deed on January 19, the partial mortgage interest would amount to $197.26.

Document Review and Signing

You’ll have the opportunity to thoroughly review the documents and seek clarification on any aspects before signing. All applicants must sign in the presence of our attorneys or their designate.

Payment Receipt and Key Exchange

Upon disbursal of the approved mortgage funds, your fees and costs will be receipted. Key exchange arrangements with the vendor can be made at this time or on a specified date thereafter.

Construction/Renovation Considerations

For projects involving construction or improvements, a partial disbursement of approved funds will be made at signing, covering any purchase agreement, outstanding debt, and initial work phases.

Out-of-Country Options

If you or a co-borrower are abroad, arrangements can be made either via a Power of Attorney for representation or by couriering the documents to you, with shipping costs borne by you.

Finalizing the Mortgage

Mortgage finalization entails the completion of all necessary documents, payment of interim interest, administrative closing costs, attorney’s fees, and satisfactory Title and Judgment Searches.

Approach this final step with confidence, knowing TTMB is here to guide you towards your homeownership goals.

Congratulations on nearing the final step towards officially owning your property with TTMB. Registering your ownership is a crucial aspect of securing your investment and ensuring compliance with legal requirements.

Filing Statutory Declarations

Upon completion of your mortgage process, our attorneys will provide you with a vital legal document known as the ‘Return of Ownership.’ This document must be filed with the District Revenue Office (DRO), signalling the transfer of ownership and initiating the assessment of annual taxes on your property. If you’ve constructed a property, the DRO will evaluate it and assign an Annual Taxable/Ratable Value (ATV or ARV) via a Certificate.

Following DRO registration, it’s essential to file with the Water and Sewerage Authority (WASA) to register your property ownership officially. This step also involves the assignment of an account for the payment of quarterly water and/or sewerage rates. If you’ve constructed a property, your WASA rates will be adjusted based on the ATV/ARV provided by the DRO. You’ll receive a WASA advisory statement or bill to confirm registration.

Tax Liability Reduction

Maximize your benefits by filing a new TD1 form with the Board of Inland Revenue to potentially reduce your tax liability. Upon request, we can arrange a supporting Interest Statement to accompany your declaration. Yearly statements will automatically be prepared for your account starting from January of the following year.

Managing Mortgage Payments

Ensure timely payment of your mortgage to TTMB in accordance with your contractual agreement. Various payment methods are available, including Salary Deductions (where applicable), Direct Debit, post-dated cheques, or over-the-counter payments at our offices. Your initial monthly instalment becomes due on the last day of the month following mortgage disbursement.

Early Repayment Options

Benefit from flexibility with early repayment options outlined in your Letter of Offer & Loan Agreement. You can repay your mortgage early without penalty and make lump-sum payments towards the principal throughout the mortgage term.

Summary: Fulfilling Statutory Declarations

As you embark on homeownership with TTMB, remember to:

With these steps completed, you’ll have fulfilled the necessary requirements to solidify your ownership and enjoy the benefits of homeownership.