|Purpose||Interest Rate||Market Value||Financing|
|Reverse Mortgage||9.8%||No limit on value||Up to 50% of value of residence|
Get funds to assist with living expenses if you are more than 65 years-old
- Up to five years to repay
- Fixed amount advanced each month
- Total advance plus interest repaid at the end of the loan period
- Opportunity to use younger person as guarantor
- Up to $200,000 content insurance from JNGI, if contents insured value $1 million and over
- 20% Discount on Motor Insurance from JNGI (per motor policy)
- Free JAA Gold Membership for one year
- Up to 20% discounts from more than 100 JN Rewards partners island-wide
- You must be 18 years or older
- Valid proof of identification: passport, driver’s licence along with birth certificate; or voter’s ID along with birth certificate
- Proof of income: Income verification letter or completed JN Bank income verification form along with last three month’s pay slips.
- Proof of address: Utility bill or cable receipt, bank statement, credit card statement or post marked envelope bearing name and address.
- Tax Registration Number