Getting pre-approved for a mortgage in Jamaica can be a hard and stressful process once you decide to become a homeowner. Both NHT and the banks have established an extended list of requirements and supporting documents just to access the pre-Qualification letter. Due to the difficulty level, we decided to take on the job of assisting you with your dream home from pre-approval to closing.
A pre-approval letter is a certification by a financial institute that a borrower has been guaranteed approval for a loan amount. With an established amount in mind, you will now be mindful of your budget instead of blindly home searching. Normally, the amount we think we are qualified for is far from what we are eligible to access.
The documents you will need at hand to access your pre-approval letter are:
Three months pay slips or bank statements.
TRN (Tax Registration Number).
Proof of Address
With these documents, we would ask you three (3) simple questions.
What is your monthly debt?
Will you be co-applying? If yes, proof of your partner's monthly income.
Confirmation of a good credit standing.
These three questions will give us an idea of your disposable amount. And don't worry, your rent is not calculated as an expense for a mortgage loan due to it becoming obsolete when you own your home.
Approaching a lending institution, ( credit union, building society, bank, or NHT) can be stressful and tiring. This is not the case with The Mortgage Place Jamaica, we make owning your home easy.