We provide financing for purchase of land; construction of home; purchase of developed property; renovations; or simply to consolidate debts.

 

General Requirements:

The following are the requirements for Commercial and Mortgage Loans:

1. Proof of Identification (Two (2) pieces of valid ID: Driver’s License; Passport and National ID)

2. Proof of Address (Utility Bill, Driver’s License, Bank Statement)

3. Proof of Income evidenced by Salary Slip and Job Letter (documents to be not more than 3 months old for new customers and not more than 1 year old for existing customers). If Self-employed, 3 years’ Financial Statements; Personal Income Tax Returns for the last 3 years. In the case of Rental Income – copies of Lease Arrangements.

4. Approved Plans of Building (Residential and Commercial Construction). Approval must not be more than 2 years old.

5. Survey Plan of site

6. Copy of Title Deed

7. Sale Agreement/Offer Letter if applicable

8. Appraisal of Land and Structures by the Association’s Approved Appraiser

9. Estimated cost of construction (Residential and Commercial) if applicable

10. Legal Fees and customary charges with source clearly identified

11. Builder’s Contract (Residential and Commercial Construction)

12. Printout of existing debts/obligations and Invoices (Debt Consolidation)

13. Statutory compliance documents (Tax Certificates/Tax Returns)

14. Business Plan and 3 prior years’ Financial Statements (Commercial Loans)

15. Credit Report or Credit Transactions History if available

16. Holding of Permanent Shares in the Association, a minimum of 25 (value $250)

17. For Corporate accounts, the following are prerequisites:

• Certificate of Incorporation

• Certificate of Registration

• Bye Laws or Memorandum and Articles of association

• List of Officers and Directors

• Certificate of Status; and

• Completion of the Association’s mandates