Low-income earners now have the opportunity to own their own homes with GBTI’s Low Income Housing Loan. Mortgage repayment extends up to thirty (30) years. Customers are required to contribute a minimum of 5% towards the cost of the house or land. Loans can be accessed for both building and buying up to a maximum of $20M.
Interest rates are as follows
3.80% per annum up to $9M
5.5% per annum from $9M to $20M
See how much your average monthly payment could be with our Loans Payment Calculator.
Documents required to make an application are:
A Mortgage over the property will be required as Collateral in addition to adequate Fire and Life Insurance coverage.
The GBTI Residential Mortgage Plan has been structured to meet the needs of the middle-income earner who wishes to build a three or four bedroom house.
Interest rates are as follows:
6.00% per annum from $20M – $25M (Young Professional Mortgages Exclusive)
6.99% per annum from $20M and above
Under this scheme, the repayment period is up to 30 years and repayment must not exceed 30% of your gross monthly income. The borrower is required to contribute 10% of the cost of the project.
The requirements for obtaining a Residential Mortgage Loan are:
A Mortgage over the property will be required as Collateral in addition to adequate Fire and Life Insurance coverage.
