NHT Encourages Homeowners To Take Advantage Of Smart Energy Loan

With soaring temperatures becoming the norm, the National Housing Trust (NHT) is encouraging both new and existing homeowners to take advantage of its Smart Energy Loan facility to finance energy-efficient solutions, such as solar systems.

Speaking on a recent Jamaica Information Service (JIS) Get the Facts programme, Assistant General Manager for Corporate Communications and Public Affairs, Dwayne Berbick, said single applicants can access a maximum of $1.5 million at a five per cent interest rate.

“Also, the NHT will allow two people to co-apply in some instances to make that $3 million,” he said.

“Previously, individuals who wanted to [purchase] solar systems had to use their Home Improvement Loan to actually do that. And, therefore, it became a toss-up between, ‘Do I put on the additional room and bedroom, or do I put in my solar system’,” Mr. Berbick noted.

“Also, I would love to point out for the new homeowner, as well, that you can actually apply for your Smart Energy Loan at the same time that you’re applying for your regular NHT loan,” he said.

The Smart Energy Loan is part of the NHT’s continued efforts to support sustainable development and promote climate resilience by making renewable energy options more accessible and affordable to Jamaicans.

“So, whether it’s an open market loan, whether it’s an NHT scheme benefit, you’re becoming a homeowner for the first time, save yourself the trouble. Put in two applications, so you don’t have to come back,” he continued.

Interested persons can apply through the entity that they accessed their mortgage. This is either directly through the NHT or one of the organisation’s External Financing Mortgage Partners (EFMPs).

The loan facility has a repayment period of up to 10 years, or until the homeowner reaches the age of 70, whichever comes first.

For more information on the Smart Energy Loan, individuals can visit www.nht.gov.jm.