Build a Home
Embark on Your Home Construction Journey with TTMB
About the Financing
Discover the pathway to realising your dream home with TTMB. We offer competitive loan options tailored to your construction needs.
Key Features
Competitive Interest Rate
Benefit from a fixed interest rate of 6%, ensuring stability and predictability throughout the construction phase of your dream home.
High Financing Coverage
Enjoy financing up to 90% of the construction costs, empowering you to embark on your home construction journey with minimal upfront expenses.
Flexible Repayment Terms
With repayment terms extending up to 30 years, you have the flexibility to manage your finances comfortably while bringing your dream home to life.
Transparent Fees
Our acceptance fee, capped at 1% of the loan amount or a minimum of $500.00, ensures transparency and clarity throughout the loan application process.
Bridge Financing Option
Bridge financing is available at the same competitive interest rate, facilitating smooth transition and continuity in your construction process.
Construction Period Support
Construction financing is available for a limited period of 12 months, ensuring timely completion of your home project.
No Mortgage Indemnity Insurance
Unlike traditional mortgage offerings, our program does not require mortgage indemnity insurance, further simplifying the application process.
No Life Insurance Requirement
Additional security in the form of life insurance is not mandatory, providing you with flexibility in structuring your financial arrangements.
No Prepayment Penalties
Enjoy the freedom to make early repayments without incurring any penalties, allowing you to manage your finances effectively and accelerate your journey towards homeownership.
Once you’ve been prequalified, start your home construction journey by submitting your building plans for approval by the Town and Country Planning Division and Regional Corporation. Explore our comprehensive How-to-Guide to compile the necessary legal documentation required for building your dream home.
At TTMB, we understand the significance of building a home as a cornerstone of your financial future. Let us accompany you on this journey, providing expertise, support, and guidance every step of the way. Begin your home construction journey 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
- Settlement Letter for Land Loan
- Evidence of Funds available for possible cost overruns, estimated at 10% – 15% of the total Construction cost
- Survey Plan
- Approved Building Plans (from Town & Country Planning Division & Regional Corporation)
- Signed Builder’s Estimate, in phased scheduled draw-downs
- Quantity Surveyor’s Report
- Completion Certificate from the Regional Corporation & final Valuation Report upon completion of Construction
*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
Closing Costs
- Legal Fees
- Statutory Fees (Stamp Duty & Registration Fees)
- Monthly Interest on Bridging Balances
- 3 months’ Rates & Taxes
- 1 year’s Lease Rent
- 1 year’s Contractor’s All Risks Insurance Premium
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%
