How to Secure the Lowest Mortgage Rates
Mortgage rates are not as low in the Caribbean as we see in the US and Canada. For the right buyer, the right property in the right location, there are very good rates available. These bank rates are reserved for high end clients buying large residential properties.
The minimum property value for these loans is 2M US, with a minimum mortgage amount of 1M US. Obviously these loans do not work for everyone, but for those who do, the rates and terms are excellent. The country is of course key as well, contact us about your property to see if we can facilitate this product in your desired location.
Sounds Great, But My Situation is Complicated
For many of our high net worth clients, showing enough income on paper to service a mortgage of this size can be difficult. Luckily this mortgage product is designed specifically for these cases. The lender will want to see financials but they are more concerned with the clients net worth and equity in the property than the income.
Before you pay cash for that new vacation property, talk to us about the low Caribbean mortgage rate we can offer you on this product, and how easy qualification can be, you will be glad you did.
Not Looking to Buy a 2 Million Dollar Property?
You may not qualify for our jumbo loan product, but that does not rule out a bank loan. In some cases we may still be able to secure you a bank rate. These are very much done on a case by case, but generally they will require a significant down payment, be in a highly marketable area and some patience as they can take time to get approved.
For most clients, a private mortgage will be the only option, so securing a low rate will not be the focus. For many clients this mental block can be tough to get past. Our brokers will always offer you the best mortgage rates we have access to however, and from there it’s up to you to decide if it works for you.
