Caribbean Mortgage Broker
A Caribbean mortgage broker has a similar role to one in North America, however due to the lack of lending options in most countries, just finding a lender can be a challenge. We do our best to find you the best financing options, whether that be bank or non bank products. It is important to remember that the pricing of these products will not be what you would pay for prime mortgages back in the US or Canada. Both bank and non bank mortgages (mortgage funds) have higher interest rates by comparison.
A lot of the time, clients come to us after trying to secure their own mortgage in the Caribbean. This process can be stressful and extremely time-consuming for someone who doesn’t know where to look or hasn’t been through the process of dealing on ‘Caribbean Time’. This is why dealing with a mortgage broker is so important; we save you time and money when purchasing or refinancing your property!
What Does a Mortgage Broker Do?
A mortgage specialist can usually tell you fairly quickly after our initial consultation if non bank financing is going to be an option for you. Equity is the key with this type of financing, however location and property type also play an important part. There is no fee for our initial consultation, so please do hesitate to bounce your financing inquiry off of one of our Caribbean mortgage brokers; we want to be your financing partner.
Our mortgage brokers charge fees for arranging financing here in the Caribbean; it varies based on a number of factors including property location, loan size, type of loan etc.
Our Lending Options in the Caribbean
We primarily work with non bank options, also known as private mortgages. These loans are higher rate products that offer easier qualification and quicker funding than a traditional bank mortgage.
We do offer some conventional bank mortgages however, including a jumbo loan designed for high value clients who may not qualify under traditional lending guidelines. These are residential products and are not applicable for commercial properties.
Using a Mortgage Broker Versus a Bank in the Caribbean
A mortgage broker works with a number of different lending sources throughout the Caribbean region. These lenders fill the gaps left by the banks who are still leery of going back ‘all in’ to the real estate market. The lending partners we work with are aggressively looking for new mortgage loans for both residential and commercial properties. Our primary markets are The Bahamas, Turks and Caicos and the Cayman Islands.
Caribbean mortgage specialists know where to go, and how to get you financed. We will use our contacts in every region to find you the right mortgage for your specific situation. Here are just a few of our recently funded deals.
Talk to one of our mortgage brokers in the Caribbean today to discuss all of our mortgage lenders and their options!