The National Housing Trust (NHT) will reportedly lengthen the repayment period for its mortgages from 30 years to 40 years, as well as allow borrowers to carry their debt up to the age of 70. This policy shift is reportedly being rolled out now, and will increase the number of people eligible for its loans and lower the amounts that they have to pay monthly in order to service the debt.
The NHT lends a maximum of J$3.5 million to individual borrowers, but two persons can also combine for such a loan for a maximum of $7 million. It is not not immediately clear by how much the new policy will change the profile of an NHT borrower, since their online calculator has not yet been reconfigured for the new 40-year mortgage time line.
March 8th, 2011 at 5:46 pm
I would like to know what is my account balance, I have not received a statement since last year. Please advice. I should finish payments this year. I am out of the country and have been paying on my account. My full name is Margaret A. Anderson. I was trying to get on the site but there is a problem. If this is not your department, please forward it to them for me. Thanks.