Antigua

Mortgage in Antigua

For the past decade getting a mortgage in Antigua has been tough to source; private loans are non existent and bank financing has been slowed. Luckily we do have a couple different options in Antigua in the form of private home loans and resort financing.

If you are looking for a vacation property in Antigua or looking to develop a resort in this little piece of the Caribbean, please contact us to discuss our options for a mortgage in Antigua.

New Antigua Guidelines

We are now only accepting applications on properties valued over 1.5M USD. Our minimum mortgage amount on this private home loan is 750k USD.

Private Financing Options

Our private financing options are generally for higher end vacation properties. The rates for these loans are a few points higher than the banks, however qualification is much easier and quicker. We can offer loans for existing properties as well as construction mortgages although the construction loans must be over 1M USD in size with a cost of over 2M USD.

Our max loan to value is 50% on homes in Antigua. This equity requirement is more than the banks which generally requires only 30% down, however the banks in Antigua can be a challenge in terms of qualification and ability to approve and fund in a timely manner.

Buying Property in Antigua

Real estate in Antigua, like much of the Caribbean, slowed during the great recession of 2008. In recent years however the market is back on the upswing. More developments are coming online for the island, as buyers are starting to invest back into Antigua. Purchasing real estate in Antigua is no different than any other country, hiring a lawyer to explain the process, and the stamp duties requirements are key to making the process go smoothly.

One thing to keep in mind when buying, the buyer pays a 2.5 % Government transfer fee. The seller of the property has to pay 7.5 %. Legal fees vary, but generally cost between 1 % to 2%.

Antigua is the perfect place to purchase your vacation home or your investment property. Talk to Carib Capital today about financing options for your dream home.

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