The Maximum You can Borrow:

The maximum loan is 90% of the lower of cost or market value. However for a loan that is over 75% of the lower cost or market value, mortgage indemnity is required.

How much of my salary can go towards my installments?

Your monthly mortgage installments should be a maximum of 35% of your gross income.
How Long do I have to Repay my Loan?

The maximum number of years for the loan can be 30 years or the number of years left until your retirement age.  Age 60, or age 65 for self-employment applicants, whichever is less. The minimum term is five (5) years.

Documents Required             

Purchasing:

Purchase Agreement and title of property.
Valuation report from an approved valuator (See Panel)
Financial status report, job letter and salary slip.
If self employed: Financial statements & copy of tax return.
Current year's lands and buildings taxes and water and sewer rates receipts.
Completion Certificate from Regional Corporation where the property is less than four years.

For the purchase of townhouse or condominium type homes:

                  -  Share certificate
                  -  Management Company's articles of incorporation and By-Laws
                  -  Management Company's statement on insurance coverage and maintenance
                      charges with evidence of current payments.
            
Company’s forms to be completed:

          -  Application Form [click to download]
          -  Mortgage Financial Status Report : [click to download]

Cost of Mortgage Loan

• Interest rates: Please contact our offices
• Processing Fee: One tenth of one percent (1/10 of 1%) of the loan, subject to a minimum $250.00 payable with the application.
• Commitment Fee: One quarter of one percent (1/4 of 1%) of the amount of the loan approved.
• Legal Fees: All legal fees are to be borne by the applicant.

Contact Us At:     mortgages@assurialifett.com

Panel of Valuators:

Brent Augustus & Associates
19 Dundonald Street, Port of Spain
Phone: 1.868.623.1946 Fax: 1.868.624.7128

G.A. Farrell & Associates Ltd.
23 Ariapita Avenue, Woodbrook, Port of Spain
Phone: 1.868.624.8628/6629 Fax: 1.868.627.1094

Linden Scott & Associates Ltd.
1 Anderson Terrace, Maraval
Phone: 1.868.622.1149/4914 Fax: 1.868.622.0133

Mervyn C. Thompson
17 Petra Street, Woodbrook, Port of Spain
Phone: 1.868.627.9938 Fax: 1.868.627.9938

Raymond & Pierre Ltd.
P.O. Box 298 111 Oxford Street, Port of Spain
Phone: 1.868.623.4945 Fax: 1.868.623.5103

Or any other approved Valuator.