The most efficient way to secure mortgage financing and credit solutions in Jamaica!

Mortgage Financing

In the market to secure your starter, dream, vacation or investment property? Milestone Mortgage will guide you from start to finish with comprehensive information and timely correspondence from initial engagement to ensure a successful application in the shortest possible time.

Equity

Tap into your home equity to satisfy your immediate needs such as home improvement, medical expenses, education, business, travel etc. Although mortgage comes with cost of registration, additional insurance premiums and attorney fees, you may benefit from manageable monthly payments amortized over a longer period than alternate finance options. Principal repayments are also flexible and can cut down loan term if pursued.

Construction

Realize the best value in your property buy building out of the ground with construction financing. Building on your own land will allow customization and the space that you need freshly built for the same cost as something half the size on the open market. Mitigate against overrun by sticking to budget and having a reliable contractor that will monitor material and staff closely. Dispel the notion that constructing is too problematic. Its not if you put the correct measures in place. If you have land or you want to buy land and build, contact us today and we will make it happen.

Commercial

Want to capitalize your business, inject cash flow or increase your holdings, commercial financing is the way to go. Using property as collateral, commercial financing can carry a term of 15 years at competitive rates starting from 9.5%. The Jamaican finance landscape has become increasingly facilitating of business owners. Now is the time implement your development strategy to make your business grow.

Consumer Loans

Auto Loans

Tired of impersonal customer care and lengthy, ambiguous finance processes? Milestone mortgage auto loan brokerage will provide you with personalized service which will make your auto financing hassle free and seamless by providing all required documents electronically and visiting you physically if needs be to collect final documents for submission. We will also assist in sourcing your vehicle through one of our auto broker partners island wide.

Consumer Loans

Unsecured Loan

One of the most sought-after credit facilities in Jamaica, an unsecured loan can be the saving grace in any emergency which requires funds fast. Two week turnaround from submission to disbursement on low risk credit applications is next to guaranteed. Standard application requirements are job letter, last three months pay slips and last 6 months salary account for employed applicants and income verification letter from chartered/certified accountant, audited financial statements over the past three years and bank statements over 12 months to support declared income.

Disclaimer: Do not take an unsecured loan for frivolous purposes which are not urgent or in alignment with building your income or net worth. Unlike a car loan, or mortgage, you will not build equity in an asset through repayment of an unsecured loan.

Pre Qualification

Complete the attached spreadsheet which captures your income/ expenditure & assets/liabilities to ultimately calculate Net worth, discretionary income and debt service ratio. Three key metrics in assessing your credit profile. You may email to milestonemortgageja@gmail.com to get your formal pre-qualification assessment.

For a quick affordability assessment, plug the potential loan amount, interest rate and loan term along with your monthly debt obligation to find your debt service ratio. Average mortgage market interest rates are 5% and 8% for USD & JMD currencies respectively. Loan term for mortgage is determined by your current age up to age 70. Auto and unsecured interest rates can vary from 7% to 20%. Average consumer loan term is 5 years.

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