How to: Buying a house through NHT

A lot of Jamaicans, in their quest to have their own home, turn to the National Housing Trust (NHT) to finance it. One of NHT's major role is to provide mortgages to its contributors. If you are a contributor to NHT, here is how to apply:

1. Individuals who are contributing to the NHT must have made at least 52 weekly contributions.

2. Thirteen of those weeks, which must have been made during the 26-week period leading up to the date of application, are eligible for loans to buy scheme units.

3. The individual can apply using the application form on the NHT's website. If you are without Internet access, you may apply at any NHT office. Once you fill out and submit the online application form, you will receive a reference number, which you should write down for future purposes.

4. You will need your NIS number and TRN, as well as information about where and when you were employed, in order to apply.

5. The NHT offers loans of up to $4.5 million for individuals, and twice that amount if two persons apply jointly.

6. You are not required to verify contributions at the time of application, but must do so at the time of the loan interview in the form of a letter from your present and previous employer. For self-employed persons, proof of contribution is the NHT payment receipt.

7. You should declare only income on which you have paid NHT contributions. If you have additional income that you have not paid NHT contributions on, do not include it on the application.

8. The length of the process depends on the housing unit that you have chosen to buy, so it can take years for the loan to be approved.