Mortgage Leader, JN Bank, has improved its mortgage financing options, which will see more Jamaicans benefiting from affordable financing for homeownership.
Under its Own Sweet Home mortgage campaign, JN Bank is offering:
- Up to 100% financing
- Interest rate as low as 6.5%
- Up to 40 years to repay
- Joint financing with the National Housing Trust (NHT)
- Life and home insurance under one umbrella and included in your monthly payment
- JN Bank Visa pre-approved credit card or JN unsecured loan
- No or low processing fees
The offer targets new or existing homeowners, who are interested in purchasing, or constructing residential property for owner occupancy; or individuals purchasing vacant residential lots. It is also available to persons seeking equity financing.
Petal James, Chief of Branches at JN Bank, said the goal is to ensure that more Jamaicans, young or old, have access to the means to own a home. She noted that homeownership is key to wealth accumulation for many Jamaican families.
“Homeownership not only drives the prosperity of families, but also the health of communities and, nationally, other major markets for credit, labour, and finance.
She further encouraged prospective homebuyers to get pre-approved as a first step to homeownership. “Pre-approval is a service that is offered, free of cost, at JN Bank. It places you in a much better position to negotiate with sellers and lets you know how much you can spend on a property.”