Financing a Property in Anguilla
Buying a property in Anguilla would be a dream come true for anyone who loves white sand beaches and clear turquoise waters. This picturesque island is the ideal place to buy a vacation home in the sun.
Before buying however, there is much home work that needs to be done in terms of the process to buy a home and the likelihood of getting financing for the property. Leaving the process to the experts, lets take a quick look at your financing options for buying a property in Anguilla.
Bank Mortgages in Anguilla
Carib Capital does offer some bank financing options in Anguilla, but they will be out of reach for some buyers. Our jumbo loans are the only bank options we are able to offer clients, which limits which buyers who will qualify for these low rate options. There are bank options if you choose to go directly, however the process can take months through the branch, and qualification can be very difficult.
Our jumbo loans offer a variable rate product based on the libor rate, a very cost effective way to borrow money in Anguilla.
Non-Bank Mortgage Options
For the right home at the right loan to value (for the right client), we have non-bank mortgage options. These loans are at a higher rate than the banks, however qualification is quicker and easier. For clients who have attempted to go to the bank first, this option will be a breath of fresh air. Because the market in Anguilla is still a little slow at this time, it will have to be the right deal to qualify for this product.
Borrowing money in Anguilla is difficult through the banks, our non-bank mortgages are not only a good alternative to the banks, they are often the only option for financing.
Private Mortgages Options in Anguilla
Unfortunately we do not have any private lenders in Anguilla at this time, however feel free to touch base with us about this option at any time as things can change. Private mortgages are loans funded by individuals looking for a better return on their investments. If you are interested in becoming your own bank and investing in private mortgages in Anguilla, we would love to talk to you.
Talk to us today about financing a property in Anguilla before you find your dream home. We can give you your options to assist you in determining the right home for you.
