Personalised Mortgage Pricing (PMP)
Earn the Rate you Deserve
About the Financing
Your mortgage rate should reflect who you are and what you have achieved, not some market average. With Personalised Mortgage Pricing, your financial profile can tangibly reduce your mortgage interest rate.
How It Works
Your Credit Score
Your Financial Profile
Property Factors
Each factor is weighted to reflect its impact on your overall risk profile, and your mortgage rate is built from that assessment. All mortgage rates fall within a preset range: From 5.00% to 7.00%.
Your final rate depends on your individual risk profile.
Discounts & Preferential Pricing
- Automatic discount for customers under approved employer or association arrangements with TTMB. If you are a member of a partner organisation listed below, you automatically qualify for a rate reduction on top of your assessed rate.
- Trinidad and Tobago Unified Teachers' Association (TTUTA)
- Trinidad and Tobago Nursing Association
- The Cooperative Credit Union League of Trinidad and Tobago
- Estate Police Association of Trinidad and Tobago
- Trinidad and Tobago Police Service Social and Welfare Association
- Prison Officers Association of Trinidad and Tobago
- Discount for female-led household customers
- Additional rate reduction for investment in any of the mutual funds offered by our subsidiary – HMB
*Please note that only one rate reduction applies per customer.
Government Assisted Programme (GAP) Mortgage Loans
GAP loans will continue to be offered at 2% and 5% with the existing interest rate cap remaining in place.
No Credit Score? No Problem.
If you do not have a formal credit score, we will look for other ways to determine your creditworthiness such as payroll deposits and bank account activity. It is not one size fits all and everyone deserves the opportunity to be assessed on their merits.
Not Fixed Forever
Market conditions change and so do our benchmark rates. TTMB conducts an annual review of our baseline interest rate to ensure our pricing remains responsive, competitive and fair.
After prequalification, it’s time to find your perfect property within your budget. Discover your next home, and then dive into your mortgage application with all the necessary documents and fees. Our How-to Guide is your companion for navigating the legal landscape of home financing.
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
- Agreement of Sale
- Certificate of Good Character (for HDC properties)
- Certificate of Assessment from the District Revenue Office
- Completion Certificate from the Regional Corporation where property is less than 4 years old
For Properties Under Renovation
- Approved Building Plans (from Town & Country Planning Division & Regional Corporation)
- Signed Builder’s Estimate in phased scheduled draw-downs
- Quantity Surveyor’s report where the cost of the renovation/repair exceeds $450,000
- Completion Certificate from the Regional Corporation on completion of required works
- Evidence of funds available for possible cost overruns, estimated at 10% – 15% of the total construction cost
For Townhouses or Condominiums
- Share Certificate
- Registered Management Company Bye-Laws
- Management Company’s Statement on Insurance Coverage and Maintenance Charges with evidence of up-to-date payments
- 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 Fees
- Application: $150.00
- Title Search: $1,500.00 (initial)
- Acceptance Fee: 1% of Loan Amount or $500.00 minimum
- Credit Bureau Report: $90.00 per applicant
- Site Visit: $800.00 per visit
Closing Costs
- Legal Fees
- Statutory Fees (Stamp Duty & Registration Fees)
- 3 months’ Rates & Taxes
- 3 months’ Maintenance Fees
- 1 year’s Lease Rent
- 1 year’s Property Insurance Premium
Receive Property for Sale Alerts
Receive an email notification when TTMB lists Property for Sale.
