Mortgages in Cayman Islands

Getting a Mortgage in the Cayman Islands

For an island with so many financial institutions, there are less mortgage options than you might expect. Although the banks are active and generally have more appetite than other Caribbean islands, there are some loans types that can be difficult to source. We have 2 different mortgage options in Grand Cayman, a private mortgage and a construction mortgage for those looking to build a villa or small resort property.

Jumbo Mortgages

There are a number of banks in the Cayman Islands. Knowing where to go to finance your investment or vacation property can be a bit of a challenge, especially for high end properties. Of course bigger mortgages can mean tougher qualification.

We specialize in higher end vacation properties for non residents. Our jumbo mortgage options apply to properties over 1.5M USD, with a maximum loan to value of 60%. This option is ideal for those looking to buy a large residential property but who may not be able to debt service the loan as per traditional banking guidelines. As this mortgage is designed for high net worth clients, they are able to approve you quickly without the tough qualification rules.

Private Financing Options

These mortgages (jumbo and otherwise) are higher rate loans however they fill a gap in the market which is not being served by the banks. Private mortgages are a quick and easy way to finance a property in Cayman.

Generally these loans cap out at 50 to 60% loan to value. The major differences between these loans and bank loans are in the rate and the qualification criteria.

Construction Mortgages in Grand Cayman

Through our non-prime lenders, we are able to offer construction financing. Again, these loans are higher priced, however qualification will be easier for the right property. The loans that are entertained will generally only be in the tourism and residential markets (preferably on or near the water).

Grand Cayman is a market where our lenders will consider construction financing for both commercial projects or for single family homes. Qualification will be much easier than through the local banks, where construction financing can be a challenge.

If you are looking for a jumbo residential or commercial mortgage in the Cayman Islands, contact us today!

We deal directly with the borrower, no brokers please!

Please note: Carib Capital is a mortgage broker; we do not work with other brokers in order to facilitate loans. Broker chains can extend the time frame to complete deals and increases the closing costs for prospective buyers / borrowers.