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Loans, because life goals can get expensive

Life goals can come with a big price tag. Sometimes, it’s the good stuff: education, home improvements, starting a business. Sometimes, it’s the not so good stuff: things like unplanned medical expenses and other unexpected major costs. Whatever life throws at you, we want you to be ready for it.

 **Loan products  are offered by JMMB Bank (Jamaica) Limited 


JMMB Mortgage 

A JMMB Mortgage from JMMB Bank helps to take the hassle out of buying your home or property. In addition, a prospective homeowner who has been contributing consistently to the NHT, can directly access NHT funding benefits, towards achieving their homeownership goals, and JMMB will be there, every step of the way. With a JMMB Mortgage, you will get more support, more incentives, more benefits and more time to repay!


It’s homeownership made easy.


With a JMMB Mortgage, you can enjoy benefits such as:

  • A more affordable payment plan with a 2-month payment holiday
  • More room to do more - Up to 95% mortgage financing and up to J$1 million in unsecured loans to cover additional home buying expenses;
  • More guidance from the financial partner you trust - JMMB mortgage experts guiding you through each step, and
  • More benefits to help you get into your dream house - Special discounts from Spaces Ltd. & Appliance Traders Ltd.



Take the first step by getting pre-approved

Potential home buyers need a mortgage pre-qualification letter from a mortgage lender to engage a real estate agent to locate a property. Follow these 3 simple steps to get pre-approved. 

  1. Make an appointment with a JMMB mortgage expert
  2. You will need to take the following information/documentation to the appointment:
    • Income verification letter and your last three (3) months’ pay advices
    • If you are self-employed, please provide your last 2 years’ financial statements (audited or in-house) supported by the most recent 12 months worth of bank statements or your last 2 years’ income tax returns
    • Proof of age (valid passport/birth certificate),  you must be at least18 years old
    • Your Taxpayer Registration Number (TRN)
  3. Letters will be available at least 48 hours after the initial meeting and can be emailed directly to you, the applicant, or will be available for pick-up at any JMMB branch, if you wish.


Download our step by step JMMB Mortgage Checklist


Frequently Asked Questions

Let us help you answer some of the frequently asked questions about mortgages.

When determining the amount of mortgage, you can afford, we look at your combined gross salary, as well as the amount that goes towards your existing loans. We then combine any existing loan payments with the proposed mortgage payment, after which we determine if your loan payment exceeds 45% of your income. The general rule of thumb is that your loan payments should not exceed 45% of your income. Speak to a mortgage adviser for special rates that may exist. 

If your mortgage payment is too steep for you, consider the following: 

  • Making a larger down payment; 
  • Taking the loan for the maximum mortgage tenure to make the amount more affordable;
  • Consolidating existing debts to make your monthly payments more affordable; and 
  • Looking at whether there is a less expensive property that you love just as much.

Yes. The younger you are, the greater the number of years you have to repay; which means lower mortgage payments. Here is an example: Sharron and Andre are 30 years old and 40 years old, respectively. They both take out a mortgage for $20 million at the same interest rate. Their monthly repayment would be approximately $116,000 and $128,000.

Legal fees are a part of the closing costs and usually range between 2% and 3% of the selling price, plus GCT. Legal fees may vary. However, many buyers tend to shy away from using a separate lawyer from the seller because legal fees can be expensive. However, it is advised that the home purchaser individuals get their own lawyer.

Legal fees cover a wide variety of legal needs such as representation, drafting of the sales agreement, and writing letters to utility companies regarding name changes, etc.

To repay a loan, the borrower would need to be earning an income. Additionally, the person should be able to qualify for creditor’s life insurance. This insurance would pay out the loan if the person dies before the loan payments are completed. If the person is self-employed and in good health and does not have a physically taxing job, for example, a lawyer, the loan may be calculated to end at age 70. For employed persons, the loan is calculated to end at age 65.

Yes, we do. Speak with one of our mortgage experts to discuss your options!

Yes. The borrower can access maximum financing of 95% of the purchase price or market price, whichever is lower. The additional 5% is considered to be equity, otherwise known as a deposit.

When determining if a self-employed individual qualifies for a mortgage, we look at the person’s credit history, which is represented by a score, and the person’s ability to repay. The ability to repay is determined by adding the proposed mortgage amount to your existing loans. The total monthly repayment should not exceed 45% of your income. Speak to a mortgage adviser for special rates that may exist. 

  • Proof of income (e.g. letter from Chartered Accountant, Audited Financial Statements, copy of Income-tax return, GCT return) 
  • Bank statements (at least 12 months, from the main operating account showing business activity and personal earnings). 

Yes, you can. This is an option that will make your mortgage more affordable. The individual would have to ensure that they meet the mortgage requirements. 

The rate at which the mortgage is calculated is not dependent on the status of the applicant’s residency. However, the currency in which the application is being made is a determining factor, and as such, a USD mortgage attracts a different interest rate from a JMD mortgage. Generally, USD loans attract a lower rate. Additionally, the borrower must earn USD to get a mortgage in that currency.

There is no average time to repay your mortgage. However, the tenure of your mortgage is determined by the maximum number of years to repay. Each organization’s repayment years vary: NHT has a maximum of 40 years, or the number of years to your 70th birthday, while the JMMB maximum is 35 years, and the number of years to your 65th birthday.

Closing cost refers to the fees associated with your purchase. Some of these fees may include stamp duty, registration fees, and lawyer’s fees. You can expect to pay 5% to 6% of the purchase price, plus GCT. 

Our Mortgage expert will handle aspects of the transaction that include joint NHT financing. They will be right there with you from the moment you receive your pre-approval letter to celebrating with you when you get the keys to your new home. 


Home Equity Loan

Home, working for you

You’ve invested in your home, now it’s time for your home to return the favour. A home equity loan lets you use the equity you’ve built up in your home, as collateral. Think of your home as a symbol of your responsibility. The more of it you own, the more you can borrow. 

This loan offers relatively low rates and easy payment terms that are manageable and affordable.


Who can get a Home Equity Loan?

  • If you own your home or property
  • If you are employed with good debt servicing record

Benefits of a Home Equity loan

  • Access cash from the value of your home/property
  • Low interest rates and fees
  • Your maximum tenor is either: up to 15 year or the number of years left to retirement (age 65), whichever comes first
  • Minimum Loan Amount - $100,000

Find out how to get started


**Property and Home Equity Loans are offered by JMMB Bank (Jamaica) Limited


"Today I got my new car. usually i would be happy with the car but i am even more happy with the service I recieved from jmmb. my loan was processed so quickly" - Marsha

Motor Vehicle Loan (JMMB Drive Easy)

The easiest (and best) way to get a new car

A motor vehicle is more than just four wheels and an engine; it’s the way you get to work, where you make your living; it’s how to take your family from one point to another; and, not having one is oftentimes not an option.

If you need a car, JMMB Drive Easy is your best bet. It gives you access to affordable loans and insurance brokering, so you can drive away with a new or used car.

JMMB Drive Easy car solution offers two key elements:

  • A motor vehicle loan, offered by JMMB Bank (Jamaica) Limited
  • Motor vehicle insurance, brokered by JMMB Insurance Brokers



  • Motor vehicle loan
  • Up to 100% financing*
  • Competitive loan rates
  • Low processing fee
  • Flexible loan tenure
  • Used Cars: Up to 9 years
  • New Cars: Up to 10 years

*Conditions apply

Motor Vehicle Insurance

Your motor vehicle insurance will be brokered by JMMB Insurance Brokers, as a part of the JMMB Drive Easy car solution. Our professional insurance broker representatives will help you find the best value insurance coverage and premium, for your needs. We will shop around for you free of cost.

Optional Features:

You can also access other great services, under JMMB Drive Easy, like:

  • Insurance Premium Financing
  • Creditor Life Insurance – which will allow your debt to pass on with you.

*Conditions apply


Get started by using our car loan calculator




**Motor Vehicle Loans are offered by JMMB Bank (Jamaica) Limited

JMMB Graduate Loan

Access an affordable loan for all your education needs, with flexible repayment plans and competitive rates, by applying for the JMMB Graduate loan.

The JMMB Graduate loan offers an unsecured or secured loan, through JMMB Bank, with attractive interest rates. 

Features & Benefits:

  • Up to 5 years to repay
  • Flexible pay-back period
  • Fast approval time
  • Competitive rates and fees


**JMMB Graduate Loan is offered by JMMB Bank (Jamaica) Limited

Find out how to get started


JMMB Payroll Bridge

We all do our best to ensure that we plan ahead for all our financial needs, but JMMB understands that ‘life happens’; that’s why we offer the JMMB Payroll Bridge, our payday advance loan solution. This unsecured loan is designed for our clients who want to borrow funds on a short-term basis, which can be used between your monthly salary, to cover an unexpected emergency.

This solution, from JMMB Bank, is available to salaried employees* offering you as much as J$2,500,000 and up to 5 years to repay.


**JMMB Payroll Bridge is offered by JMMB Bank (Jamaica) Limited



Find out how to get started

Cash Secured Loan

Use your cash to make even more cash

You work hard to build up a savings account. So when something comes up and you have to clear it out, it can be frustrating. So don’t do it. When you have a cash secured loan, you can use your hard earned money as collateral to take out a loan. The best part is, we let you access out a loan on whatever your heart desires. 


  • Maximum Amount: 90% of Asset Value (cash held in account) or 80% (this margin is for cross currency loan e.g. where a foreign currency loan is secured by J$)
  • Maximum Tenor: 5 years (60 months)
  • Reason for borrowing: Any legitimate purpose specified by the client.

Find out how to get started


**Cash Secured Loans are offered by JMMB Bank (Jamaica) Limited

Unsecured Loan

For when you need it most

Maybe you don’t have any property just yet to borrow against. Maybe you found a great opportunity to make a big purchase. Whatever the case, an unsecured loan can be just what you need to take care of the task at hand.


  • Maximum Amount: J$25 million
  • Maximum Tenure: 7 years 
  • Reason for borrowing: Any legitimate purpose, specified by the client.


Find out how to get started


**Unsecured Loans are offered by JMMB Bank (Jamaica) Limited

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