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Mortgage Solutions
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The products referred to below are offered only by Scotia Jamaica Building Society (a wholly owned subsidiary of The Bank of Nova Scotia Jamaica Limited).
| Mortgage Options |
Rate |
Savings Requirements
SJBS - Scotia Jamaica Building Society
BNSJ - Bank of Nova Scotia Jamaica |
| |
Per Annum |
(%) of Loan |
Months in Account |
| Saver |
Today's Rate |
10% |
• 6 mos. in SJBS acct.
• 12 mos. in BNSJ acct. |
| Non-Saver |
N/A |
N/A |
| Instant Qualifier |
10% |
• Required immediately
• Hypothecated 12 mos.
after loan disbursement |
| Switch for Free Program |
N/A |
• After the loan has
been approved |
| Special Switch Program |
N/A |
• After the loan has
been approved |
| Real Estate Investment |
N/A |
• 6 mos. in SJBS acct.
• 12 mos. in BNSJ acct. |
| Home Improvement |
10% |
• Required immediately |
| 10% |
• 6 mos. in SJBS acct.
• 12 mos. in BNSJ acct. |
| N/A |
N/A |
| Residential Lot |
10% |
• Required immediately |
| 10% |
• 6 mos. in SJBS acct.
• 12 mos. in BNSJ acct. |
| N/A |
N/A |
| Homebuilder |
N/A |
N/A |
| Gold Key Mortgage |
N/A |
N/A |
| Tiered Mortgage |
N/A |
N/A |
Notes
- Residential Home: We finance up to 90% of the purchase price or valuation of the property (whichever is lower)
- Residential Lots:
- We finance up to 80% of the lower of the purchase price or valuation of the lot for a period not exceeding 15 years
- Investment up to 65% of the lower of the purchase price or valuation of the lot for a period not exceeding 15 years
- Investment Loan: On loans granted for investment purposes (residential rental properties), we finance up to 65% of the lower of the purchase price or valuation of the property being purchased for a maximum term of 30 years
- Minimum Loan Amount: $500,000
- Maximum Repayment Period: 30 years
- Special Switch Program: Requires an initial deposit of $50,000 with an additional $3,000 deposited over the life of the loan
Conditions apply. All information contained herein is subject to change without notice.
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