Mortgage Rates in Trinidad - Who is Best?

[pete]

You sure they're financing land at 10%? When I asked a couple years ago they said you needed to have 25% for land.

[DrunkenMaster16]

Paying 10% down to the land owner, then have 90 days to pay the remaining 90% to said land owner for 20 000 sqf freehold land. Will have an additional 25 - 40% (of the total amount) down within 60 days. Need to get financing for the remaining 65-50% with the option to pay off early would be nice.

Thanks pete

[teems1]

Rates extremely good right now.

MMR sent my rate from 5.4 to 5.25

[33 hertz]

Got through this month with 5.1% at FCB for 80% of the land value. They are going as low as 4.6% depending on how well you meet the criteria. They also have the option to pay lump sums with three months notice once it's over 50K, with the option to renegotiate either the monthly premium or duration of the loan with no penalties.

[mitsutt]

interesting

[DrunkenMaster16]

Got through this month with 5.1% at FCB for 80% of the land value. They are going as low as 4.6% depending on how well you meet the criteria. They also have the option to pay lump sums with three months notice once it's over 50K, with the option to renegotiate either the monthly premium or duration of the loan with no penalties.

thanks will check them tuesday!

Looks like I may get an investor so might only need to borrow 200k for now.

[AbuStar]

any updated information?

[shake d livin wake d dead]

TTMF the way to go^
5% for first time home owners

[scotty_buttons]

Anyone with advice/experience on purchasing income earning properties such as apartment buildings?


Sent from my iPhone using Tapatalk

[10-01]

Anyone with advice/experience on purchasing income earning properties such as apartment buildings?


Sent from my iPhone using Tapatalk

i enquired already about an apartment building , they have to be classified it as either commercial or private property the rates will vary depending on what the property is classified as ... but commercial loans are given at shorter loan period and a bit higher interest rates ...

[scotty_buttons]

Anyone with advice/experience on purchasing income earning properties such as apartment buildings?


Sent from my iPhone using Tapatalk

i enquired already about an apartment building , they have to be classified it as either commercial or private property the rates will vary depending on what the property is classified as ... but commercial loans are given at shorter loan period and a bit higher interest rates ...

Makes sense. What about how much you'll be qualified for? Would financial institutions be more flexible if the monthly income alone can pay off the mortgage installments ?
For instance, if one can qualify for a 1.8-2mil mortgage for house and land, what's a safe ballpark figure to look for an apartment building?


Sent from my iPhone using Tapatalk

[10-01]

Anyone with advice/experience on purchasing income earning properties such as apartment buildings?


Sent from my iPhone using Tapatalk

i enquired already about an apartment building , they have to be classified it as either commercial or private property the rates will vary depending on what the property is classified as ... but commercial loans are given at shorter loan period and a bit higher interest rates ...

Makes sense. What about how much you'll be qualified for? Would financial institutions be more flexible if the monthly income alone can pay off the mortgage installments ?
For instance, if one can qualify for a 1.8-2mil mortgage for house and land, what's a safe ballpark figure to look for an apartment building?


Sent from my iPhone using Tapatalk

u will be qualified based on a # of things , age , monthly income , assets , loans , credit cards etc
what they will ask you is if the building has no tenants for a period of time how will you pay the mortgage , it wil be a plus to show the income of the building but i don't know if they will use the figure to grant u the loan ... i normally check it as $7000 per every million based on a 28 year mortgage , your figure may vary but check FCB website they have a simple mortgage calculator

[scotty_buttons]

Anyone with advice/experience on purchasing income earning properties such as apartment buildings?


Sent from my iPhone using Tapatalk

i enquired already about an apartment building , they have to be classified it as either commercial or private property the rates will vary depending on what the property is classified as ... but commercial loans are given at shorter loan period and a bit higher interest rates ...

Makes sense. What about how much you'll be qualified for? Would financial institutions be more flexible if the monthly income alone can pay off the mortgage installments ?
For instance, if one can qualify for a 1.8-2mil mortgage for house and land, what's a safe ballpark figure to look for an apartment building?


Sent from my iPhone using Tapatalk

u will be qualified based on a # of things , age , monthly income , assets , loans , credit cards etc
what they will ask you is if the building has no tenants for a period of time how will you pay the mortgage , it wil be a plus to show the income of the building but i don't know if they will use the figure to grant u the loan ... i normally check it as $7000 per every million based on a 28 year mortgage , your figure may vary but check FCB website they have a simple mortgage calculator

Yeah I use the same estimate; 7000 for every 1 million.
Thanks for the info!


Sent from my iPhone using Tapatalk

[jinromeo27]

Anyone interested in financing for a mortgage I can assist

[shake d livin wake d dead]

who are you?
where do you work?

[TriniAutoMart]

TTMF the way to go^
5% for first time home owners

Was this a special offer for a period of time?

[urbandilema]

I am interested as speaking to use it to buy a piece of land.whats the procedure

[Duane 3NE 2NR]

[urbandilema]

Thanks man but will it be a problem as my salary goes tru republic bank

[The_Honourable]

Alright tuners, what are the mortgage rates like? Much more friendly today than years ago or things got tricky?

How the banks and other lending institutions doing?

[hong kong phooey]

Just asking
why spend all that money when you can just move in into a HDC house
if you need 10 "chirren " to rent for the newspaper article it could be easily organised.

[src1983]

Just asking
why spend all that money when you can just move in into a HDC house
if you need 10 "chirren " to rent for the newspaper article it could be easily organised.

So true, middle class minding the idiot class

[dougla_boy]

check TTMF. They have something with the gov't for mortgages with real good rates. i briefly heard about it on the radio, but what i heard sounding real good compared to what u getting out there.

[VexXx Dogg]

FCB was pretty competitive when compared against the other banks. Ended up going with them for a land purchase.
Didn't look at TTMF at all tho.

[urbandilema]

check TTMF. They have something with the gov't for mortgages with real good rates. i briefly heard about it on the radio, but what i heard sounding real good compared to what u getting out there.

Ttmf atm
At the moment I know Fcb is competitive but I going through the process with my home bank rbl as that where my pay is at

[SmokeyGTi]

you're right with that 27K/ 1.4 mil thing.

Makes you wonder how much people really working for when you see them buy two storey houses for 2mil upwards..
and the simplest flat house going for an average 1.5 mil now...

lotto for it yes..

[urbandilema]

you're right with that 27K/ 1.4 mil thing.

Makes you wonder how much people really working for when you see them buy two storey houses for 2mil upwards..
and the simplest flat house going for an average 1.5 mil now...

lotto for it yes..

Or drugs it's rel hard in the real estate..everyone moving greedy and wanna make themselves millionaires

[shake d livin wake d dead]

I was in TTMF recently...they are offering the 5% thing just as the ad stated..FCB up there as well not sure about other institutions.

you just need a long list of things to get for TTMF(which is expected from any institution)...

also doh expect to ask for 1.5mil and get all in hand....they would give you the $$ in stages(you have to complete a portion and they would release $$ accordingly)...main thing is to get your inspection certificate.

[shake d livin wake d dead]

before I forget: TTMF also over the option of including your water bill and insurance in the mortgage

[hong kong phooey]

Guys u need to do your research a little more . yeah buying a prebuilt is a lot easier but building your house you can save in the hundreds of thousands of dollars.
After you finish paying your mortgage you will never want to do that again.