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Achieve Your Own Sweet Home with a JN Bank

Have the option to benefit from changes in market rates linked to 90-day Treasury Bill rates.

Features and Benefits

  • Available in Jamaican dollars only
  • Peg interest to T-Bill rates
  • Make monthly or quarterly instalments
  • Special offer on Peril and Content Insurance from JNGI


  • You must be a Jamaican 18 years or older
  • Valid identification: driver’s licence, passport, voter registration card
  • Proof of address: utility bill, credit card statement or bank statement
  • Tax Registration Number or driver’s licence (Jamaican), Social Security Number (US resident), Social Insurance Number (Canadian Resident), National Insurance Number (NIN)
  • Proof of income: income verification letter or completed JN Bank income verification form, last two months pay slips
  • Completed statement of affairs

*Conditions Apply

Terms and conditions
All other terms and conditions of the DYM Options will be applicable and remain unchanged.

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Frequently Asked Questions

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.

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We’re happy to assist with a loan or mortgage to finance your goal.

JN Bank is committed to providing you with much more than financing. We’re here to serve you.

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