5% Mortgage Programme

Seize Opportunity

About the Programme

Service Characteristics

Unlock the potential of homeownership with our 5% Mortgage Programme, designed to offer you exceptional value and affordability. Take advantage of our low rates and embark on the journey towards owning your dream home with confidence and ease.

Experience the benefits of our 5% Mortgage Programme today.

Key Requirements


Borrower Characteristics

Monthly Income of family must not exceed $30,000. Borrower(s) must be a first-time homeowner.

Property Value

Property value must not exceed $1,500,000. Land owners can still receive financing up to $1,500,000 for construction.

Financing Terms

95% financing will be offered to those who qualify, as a means of reducing the amount of savings required for the down payment on the property.

Repayment Term

Maximum Repayment Term of 30 years*. Mortgage may be extended to age 70 under special conditions.

Graduated Payment

A graduated payment mortgage arrangement is included, the main features of which would allow for an increase of 0.5% annually from the inception of the loan to the attainment of the open market interest rate (currently 6%).

Appliances Provision

Loan amount can be inclusive of $20,000 approved for major appliances.

Frequently Asked Questions

  • Yes, an applicant can borrow to extend/renovate his/her house provided the relevant approved plans from Town and Country Planning have been received by TTMB and once the applicant has been approved to borrow the requested amount based on his/her income and debt.

  • Under the 5% Mortgage Programme, beneficiaries must obtain written consent from the HDC to sell and/or sublet the property before the expiration of ten (10) years from the date of financing.

  • Up to $20,000.00 is included in the total loan amount of persons who qualify for the 5% interest rate. The appliances that can be purchased are refrigerator, stove, washer and dryer. The monies for these appliances will be paid directly to the store from which you are purchasing the appliances upon execution of your Mortgage Deed.

  • You will be required to make at least a 5% deposit towards the purchase of your property.

  • While it is not mandatory for the loan, it is recommended. With Advance Protector®, in the event of your untimely passing, the outstanding balance of your mortgage will be paid.

Required Documents

Two (2) copies of all documents must be provided.

Standard Documents

Additional Documents

*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​

Closing Costs

Receive Property for Sale Alerts

Receive an email notification when TTMB lists Property for Sale.

Advance Protector

Keep your family covered in the storm of your passing.