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    Mortgage Plus

    Get a mortgage and additional funds to cover your deposit, closing costs and other expenses

    Finance your home purchase and cover mortgage-related and home-related expenses, such as your home deposit and legal fees, with Mortgage Plus.

    FEATURES/BENEFITS

    • Up to 95% mortgage financing
    • Up to $5 million in unsecured personal funds
    • Available in Jamaican dollars only
    • Option to select mortgage terms
    • Access to unsecured personal loan to settle mortgage-related and home-related expenses
    • Special offer on Peril and Content Insurance from JNGI
    • You must be 18 years or older
    • Valid photo identification
    • Taxpayer Registration Number (TRN)
    • Proof of your address (utility bill, receipt or other bills).
    • Telephone number(s) – (home, work and mobile)
    • Current and  valid identification
    • Tax payer Registration Number (TRN) OR Jamaican Driver’s licence bearing this number OR its overseas equivalent (Social Security Number (SSN) US Resident, Social Insurance Number (SIN) – Canadian Resident), National Insurance Number (NIN) – UK Resident
    • Occupation and name of employer (if self-employed, the nature of self-employment)
    • Two (2) references
    • Source of funds

    New Kingston Mortgage Representatives

    Mrs. Andrea Wright-Anderson

    Client Relationship Specialist

    JN Bank Ltd.– Mortgage Centre (New Kingston)

    10-12 Grenada Crescent, Kingston 5, Jamaica, W.I.

    Mobile:  +1-876-276-5336

    Office:  +1-876-926-1344 EXT 5412

    Email: Awright@jnbank.com

    Miss Christabelle Douglas

    Client Relationship Specialist

    JN Bank Ltd. – Mortgage Centre (New Kingston)

    10-12 Grenada Crescent, Kingston 5, Jamaica, W.I.

    Mobile:  +1-876-276-5286

    Office: +1-876-926-1344 EXT 5415

    Email: ChristabelleD@jnbank.com

    Mr. Kendal Smith

    Client Relationship Specialist

    JN Bank Ltd. – Mortgage Centre (New Kingston)

    10-12 Grenada Crescent, Kingston 5, Jamaica, W.I.

    Mobile:  +1-876-564-0625

    Office: +1-876-926-1344 EXT 5416

    Email: KSmith@jnbank.com

    Mrs. Kaye Ricketts

    Client Relationship Specialist

    JN Bank Limited – Mortgage Centre (New Kingston)

    10-12 Grenada Crescent, Kingston 5, Jamaica, W.I.

    Mobile:  +1-876-283-4666

    Office: +1-876-926-1344 EXT 5552

    Email: KRicketts@jnbank.com

    Mr. Kevin Henry

    Client Relationship Specialist

    JN Bank Ltd. – Mortgage Centre (New Kingston)

    10-12 Grenada Crescent, Kingston 5, Jamaica, W.I.

    Mobile:  +1-876-276-5731

    Office: +1-876-926-1344 EXT 5417

    Email: KHenry@jnbank.com

    Miss Marie Gayle

    Client Relationship Specialist

    JN Bank Ltd. – Mortgage Centre (New Kingston)

    10-12 Grenada Crescent, Kingston 5, Jamaica, W.I.

    Mobile:  +1-876-276-5442

    Office: +1-876-926-1344 EXT 5419

    Email: MGayle@jnbank.com

    Miss Marie Hamilton

    Client Relationship Specialist

    JN Bank Ltd. – Mortgage Centre (New Kingston)

    10-12 Grenada Crescent, Kingston 5, Jamaica, W.I.

    Mobile:  +1-876-276-5684

    Office: +1-876-926-1344 EXT 5420

    Email: MarieH@jnbank.com

    Mr. Paul Lettman

    Client Relationship Specialist

    JN Bank Ltd. – Mortgage Centre (New Kingston)

    10-12 Grenada Crescent, Kingston 5, Jamaica, W.I.

    Mobile:  +1-876-869-6385

    Office: +1-876-926-1344 EXT 5421

    Email: PLettman@jnbank.com

    Mr. Sean Morgan

    Client Relationship Specialist

    JN Bank Ltd. – Mortgage Centre (New Kingston)

    10-12 Grenada Crescent, Kingston 5, Jamaica, W.I.

    Mobile:  +1-876-276-5726

    Office: +1-876-926-1344 EXT 5422

    Email: SeanM@jnbank.com

    Miss Tanya Lindo

    Client Relationship Specialist

    JN Bank Ltd. – Mortgage Centre (New Kingston)

    10-12 Grenada Crescent, Kingston 5

    Mobile:  +1-876-276-5457

    Office: +1-876-926-1344 EXT 5423

    Email: TLindo@jnbank.com

    Miss Tashaleen Morgan

    Client Relationship Specialist

    JN Bank Ltd. – Mortgage Centre (New Kingston)

    10-12 Grenada Crescent, Kingston 5

    Mobile:  +1-876-276-5647

    Office: +1-876-926-1344 EXT

    Email: TMorgan@jnbank.com

    Mrs. Cheryl Kerr-Daley

    Client Relationship Specialist

    JN Bank Ltd. – Mortgage Centre (New Kingston)

    10-12 Grenada Crescent, Kingston 5

    Mobile:  +1-876-276-5593

    Office: +1-876-926-1344 EXT 5414

    E-mail: CDaley@jnbank.com

    Montego Bay Mortgage Representatives

    Miss Angella Hines

    Client Relationship Specialist

    JN Bank Ltd. – Mortgage Centre (Montego Bay)

    JN Financial Services, Megamart Complex

    Catherine Hall, Montego Bay, St. James, Jamaica

    Mobile:  +1-876-577-9201

    Office: +1-876-926-1344 EXT 5429

    E-mail: ACHines@jnbank.com

    Miss Karen-Ann Mighty

    Client Relationship Specialist

    JN Bank Ltd. – Mortgage Centre (Montego Bay)

    JN Financial Services, Megamart Complex

    Catherine Hall, Montego Bay, St. James, Jamaica

    Mobile:  +1-876-276-5203

    Office: +1-876-926-1344 EXT 5430

    E-mail: KMighty@jnbank.com

    Mr. Oraine Thompson

    Client Relationship Specialist

    JN Bank Ltd. – Mortgage Centre (Montego Bay)

    JN Financial Services, Megamart Complex

    Catherine Hall, Montego Bay, St. James, Jamaica

    Mobile:  +1-876-551-7795

    Office: +1-876-926-1344 EXT 2935

    E-mail: OThompson@jnbank.com

    Ochos Rios Mortgage Representatives

    Mrs. Cheri Powell-Henry

    Client Relationship Specialist

    JN Bank Ltd. – Mortgage Centre (Ocho Rios)

    Corner Graham and DaCosta Streets, Ocho Rios, St. Ann, Jamaica, W.I.

    Mobile:  +1-876-276-5593

    Office: +1-876-926-1344 EXT5427

    E-mail: Cheri@jnbank.com

    Mrs. Sanique Barrett-Mitchell

    Client Relationship Specialist

    JN Bank Ltd. – Mortgage Centre (Ocho Rios)

    Corner Graham & DaCosta Streets

    Mobile:  +1-876-451-2330

    Office: +1-876-926-1344 EXT 4810

    E-mail: BarrettS@jnbank.com

    Miss Audreen Higgins

    Receptionist

    JN Bank Ltd. – Mortgage Centre (Ocho Rios)

    Corner Graham & DaCosta Streets

    Office: +1-876-926-1344 EXT 4948

    E-mail: AudreenH@jnbank.com

    Mrs. Winsome McNish-Ricketts

    Business Relationship Manager  (Acting)

    JN Bank Ltd. – c/o JN Ocho Rios Branch

    Corner Graham & DaCosta Streets, Ocho Rios, St. Ann, Jamaica, W.I.

    Mobile:  +1-876-577-9048

    Office: +1-876-926-1344 EXT 5428

    Email: WRicketts@jnbank.com

    Mandeville Mortgage Representatives

    Miss Sophia Anderson

    Client Relationship Specialist

    JN Bank Ltd. – Mortgage Centre (Mandeville)

    Floor 1 – JN Bank Mandeville Branch

    45A Mandeville Plaza, Mandeville, Manchester, Jamaica, W.I.

    Mobile:  +1-876-276-5526

    Office: +1-876-926-1344 EXT 5426

    E-mail: SophiaA@jnbank.com

    What is an Adjustable Rate Mortgage?

    With an adjustable rate mortgage, the interest rate may change periodically either up or down based on JN Bank’s cost of funds. Over the last five years, JN Bank’s Adjustable Rate Mortgage interest rate has gradually lowered and is one of the most competitive in the market.

     

    What is the difference between a Variable Rate Mortgage and an Adjustable Rate Mortgage?

    A Variable Rate Mortgage allows you to continually benefit from changes in market interest rate, as the rate is linked to the Bank of Jamaica’s 30-day Treasury Bill Rate (T Bill) or the 90-day T-Bill Rate.  As a result, the interest rate may change either monthly or quarterly.

     

    If I choose the Fixed Rate option, how long will the interest rate be fixed?

    The rate can be fixed for a period of three years to 15 years. With the Fixed Rate option the principal and interest component of your monthly payment will remain unchanged.

     

    How long will I have to repay my loan?

    We typically require loans to be repaid by age 70. However, if you opt for the Extended Mortgage, the repayment period can be extended beyond 70 years under the following circumstances:

    • If the income to service your mortgage comes from a source that is reasonably expected to continue beyond the age of 70 years old (eg. property rental, self-employment etc.) or until death (eg. pension),
    • If you have other assets which can be easily sold
    • If the amount you’re borrowing is low compared to the value of the property
    • If you have life insurance policies which are assignable

     

    What is the Balloon Payment option?

    The Balloon Payment is a lump sum due at the end of the loan term.

     

     Who can I benefit from the Balloon Payment option?

    The balloon mortgage option is tailored to satisfy your unique situation and is ideal for persons who:

    • Intend to sell property to liquidate the debt
    • Expect to receive a lump sum of cash, such as gratuity on retirement payments, claim settlements, etc.
    • Buy and sell property
    • Sell other assets to repay the debt
    • Are young enough to convert the loan to a longer-term traditional mortgage at end of balloon payment period

     

    If I opt for a Payment Holiday, what happens when it ends?

    You may choose to pay off the interest charged during the holiday period in a lump sum at the end of the holiday, or you may choose to have the sum added to your loan. If you choose to have the sum added to the loan, the monthly payments could increase or you may choose to have the repayment period of your loan extended. However, any extension to the life of your loan will be dependent on your age.

     

    What is a Graduated Mortgage?

    A Graduated Mortgage is an adjustable rate mortgage in which the monthly payment starts low and increases over a maximum period of five years.

    This product is ideal for young professionals who have a potential for increased earnings over time.

     

    What is Mortgage Plus?

    Mortgage Plus is a combination of a mortgage and a personal unsecured loan, which allows you to fully finance the purchase of the property and its associated costs and any other home-related expenses. Some of these costs include financing the home deposit payment, transaction costs associated with the purchase of the property, closing cost or any other home related expenses (furniture, appliances etc.).

     

    Can I switch to any of these new mortgage options if I am already a JN Bank mortgagor?

    Existing mortgagors can switch to select options subject to further assessment.

     

    Can I blend mortgage options?

    You may blend options, however, this will be dependent on your ability to service the loan based on the specific terms and conditions.