Residential

Buying your home doesn't have to be difficult. BAF offers flexible options to suit every need.

Terms

• Down payment - as little as 5 % down with Mortgage Indemnity Insurance
• Up to 30 years to pay
• Financing for construction and existing properties 
• Reduced Commitment fees
• 48 hour approval

Mortgage Loan Requirements

 

• Employment/ Income Verification:

   - Date of employment
   - Position
   - Annual salary
   - Length of service
   - Prospect of continued employment
   - If present employment is less than two (2) years, a letter is required from previous employer.
   - If self-employed, last year's audited Financial Statements. If unaudited, bank statements for the same period.

• Bank references for deposit and loan accounts (printouts from banks showing payoff amounts, account numbers, name of bank and location).        
• Copy of Sales Agreement.
• Evidence of deposit paid (original receipt, cancelled check or confirmation from Real Estate Company or Lawyer holding deposit).  
• Photograph/Identification - Passport, Voter's card and National Insurance Card.  
• Appraisal Report
• Copy of latest Real Property Tax Bill or receipt of payment.

Construction Loans 

• Copy of at least three (3) estimates for construction.
• Contractors Builders Risk Insurance

Applicants and co-applicants are not restricted to husband and wife but may also include siblings and parent/child relationships.

Ask about our Home Ownership Savings Plan and start saving now towards owning your OWN home.