Mortgage/ Home Purchase

Mortgage / Home Purchase Posts

Saving for a Mortgage

Saving for a Mortgage

Intro What are some guidelines for saving for your first home?You did some research on the housing market and decided that you want to buy a 2 bedroom apartment in Norbrook, or perhaps you did some further assessments and then decided that you could only manage a quad...

Real Estate Investing During Covid-19

Real Estate Investing During Covid-19

Intro Interest Rates are Low So Should I Invest In Real Estate?I was recently a guest on TVJ's townhall where the topic of discussion was investing during Covid-19. The link for the full interview is here...

Loan Deferrals

Loan Deferrals

Intro What is a Loan Deferral and Do I Need One?Payment holiday, moratorium, forbearance, loan deferral -  I am sure you have been hearing all these terms in light of the Covid-19 pandemic and may not have a clue what they are. What do they mean and how could they...

Your NHT Benefits Explained

Your NHT Benefits Explained

Intro What are the Benefits being Offered by the NHT?Are you thinking about buying a home but have no idea what the benefits of using the NHT are or perhaps you are making NHT contributions and don’t know why or how you can get them refunded? I spoke about a few of...

8 Things To Ask Your Mortgage Officer

8 Things To Ask Your Mortgage Officer

Intro Are You Considering Home Ownership but Don't Know What Questions To Ask?Asking the right questions in the loan application process can help to alleviate frustration on both your part and the part of the mortgage officer, who may take it for granted that you know...

Reducing Balance vs Add-On Loan

Reducing Balance vs Add-On Loan

Intro Which One Costs More - Reducing Balance or Add On?I was recently a guest on the Earning Season Podcast and I spoke about the journey towards home ownership, which included everything from applying for a loan, to searching for a house to what to expect as a new...

A Survey on Mortgages in Jamaica

A Survey on Mortgages in Jamaica

Intro What is the Mortgage Process Like in Jamaica?A survey was conducted via Survey Monkey and issued to Jamaican mortgagors from Dec 13th to Dec 17th to assess their views on various aspects of the mortgage process. There were fifty (50) responses, summaries of...

Considerations for Renting vs. Buying

Considerations for Renting vs. Buying

Intro Trying to Decide Whether To Rent or Buy?Did you know that mortgage interest rates are lower than they have ever been in recent times? Did you know your landlord has the right to raise your rent by 7.5% each year? Do you know that you should save at least 20% of...

Mortgage Rates in Jamaica

Mortgage Rates in Jamaica

Intro How Have Mortgage Rates Been Changing Over Time?Interest rates have been on the decline in Jamaica, as a result of the government putting several policies in place to make it cheaper for consumers to borrow, particularly when it comes to home ownership. A few of...

Mortgage Fees – The hidden secret of home ownership.

Mortgage Fees – The hidden secret of home ownership.

Intro What Will it Cost to Own a Home?gAs a home buyer, you should estimate about 10% of the cost of the home for fees if you are taking a mortgage and 6% if you are not (not including the downpayment). Although I mentioned some of the fees in my articles Steps...

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