Moderator: 3ne2nr Mods
1) TTMF maybe your best option as 1st time.Mowally wrote:Hi, Tuners I've been reading up on mortgages in Trinidad. I need some ideas on the best lending institution and some advice on my presenting issues.
1. Working with combined salary of $18000 & the no. of yrs to pay off is 16. I'm looking at property for $1.2M.
2. Can I used family land as collateral to get a mortgage for new property?
3. Annnddd how do I go about getting Venezuelan labourers?
Dizzy28 wrote:Isn't TTMF's 5% rate for a fixed period (1st 5 years) as opposed to the life of the mortgage and it then goes to market rates eventually. (v. A graduated payment mortgage arrangement is included, the main features of which would allow for an increase of 0.5% annually from the inception of the loan to the attainment of the Approved Mortgage Company (AMC) rate (currently 7%) in five (5) years........https://www.ttmf-mortgages.com/mortgage ... -programme)
This should be a concern/point of note for persons who just about qualified from an income perspective, as they would need to pay a bigger payment later on.
Assuming that you are only given 16 years to repay a $1.2M loan:Mowally wrote:Hi.. Thank you for input.
I'm trying to wrap my mind around the info given. You spoke about the land . So the land with requirements given will decrease the loan amount? with the property being in lien, will I still be able to use such property as a revenue earner?
I won't qualify for the 2% because my salary is above $14000, but less than $20G. My issue is the time frame for the mortgage repayment, I'm only getting 16 years.
I'd like ac company that can deal with me on my individual basis. Looking @my assessments & liabilities & working to suit.