New NHT Loan Ceiling Available to Some Single Applicants

In an effort to deliver more benefits to its contributors, the National Housing Trust (NHT) has introduced a new loan ceiling that is now available to qualifying single applicants.

Speaking at a Jamaica Information Service (JIS) Think Tank recently, Assistant General Manager, Corporate Communications and Public Affairs, Dwayne Berbick, said up to $8.5 million will be available, effective July 1, 2023.

However, this amount is subject to affordability and can only be used towards purchasing a property selling for $12 million or less.

“We do realise that prices are heading in a particular direction and where the NHT can make adjustments to meet the affordability needs of our contributors, we will make those adjustments,” Mr. Berbick said.

The new loan limit is one of several “strategic changes” implemented by the NHT in recent months.

Less than a week ago, the organisation announced increases in the loan amounts for Open Market, Build on Own Land, Home Improvement, Ten Plus and Fifteen Plus loan products.

The NHT has also automated some of its services, including the process of obtaining an eligibility letter.

“These are aimed at optimising, especially, our loan onboarding process and, overall, making improvements to our customer service delivery,” Mr. Berbick explained.

The NHT is improving the way it does business to deliver more housing solutions and services to its contributors.