Buying Property in Trinidad and Tobago? TTMF’s 2% Mortgage Programme

If the income of the head of the household is $14,000 or less, you may qualify for an interest rate of 2% to purchase any property valued up to $1,000,000. Special conditions apply.

Features of the 2% facility:

  • A graduated payment mortgage arrangement is included, the main features of which would allow for an increase of 0.5% annually from the inception of the loan to the attainment of the next level of the subsidized mortgage rate of 5% in seven (7) years.
  • Property value must not exceed $1,000,000.00
  • Land owners can still receive financing up to $1,000,000.00 for construction
  • Up to 100% financing, for the Purchase Price for house and land or land with immediate construction of a house, will be offered to those who qualify, as a means of reducing the amount of savings required for the down payment on the property.
  • Monthly Income of borrower(s) must not exceed $14,000.00
  • Borrower(s) must be a first time home owner
  • Maximum Repayment Term of 30 years*
  • Mortgage may be extended to age 70 with a gainfully employed younger family member being a co-borrower
  • Inclusive of $20,000.00 approved for major appliances
  • Mortgage Cover® is encouraged

*Normal Lending criteria apply.


$20,000.00 Approved for Major Appliances

The $20,000.00 is included in the total loan amount of persons who qualify for the 2% interest rate. The appliances that can be purchased are refrigerator, stove, washer & dryer. The monies for these appliances will be paid by cheque directly to the store from which you are purchasing the appliances upon execution of your Mortgage Deed.

100% Financing

100% Financing is a benefit given to persons who can qualify for the 2% interest rate. If you do not qualify for the 2% interest rate you will be required to make at least a 5% deposit towards the purchase of your property.

Mortgage Cover

In the event of your untimely passing, TTMF and CUNA Caribbean Insurance provide insurance coverage on the outstanding balance of your mortgage. Learn more about Mortgage Cover®.

Common Questions

Can I borrow monies to extend/renovate my house?

An applicant can borrow monies to extend/renovate his/her house at market rate provided the relevant approved plans from Town and Country Planning have been received by TTMF and once the applicant has been approved to borrow the requested amount based on his/her current income and current liabilities.

Can I rent out or sell the property?

Under the 2% Mortgage Programme, beneficiaries cannot sell / sublet the subsidized property before the expiration of ten (10) years from the date of financing.

*Normal lending criteria apply.

Information Provided by: Trinidad & Tobago Mortgage Finance Company Ltd.

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