Showing Jamaica because that’s where you are.
Jamaica 💰 JMD Last updated2026-05-28 Mortgage Calculator
Jamaica
A J$18,000,000 mortgage at 10.5% over a 25-year term works out to a monthly payment of about $169,953, with total interest of $32,985,812 over the full term.
Mortgage Calculator
CFP® with 12+ years in mortgage & retirement planning.
Local context Mortgages in Jamaica
Market overview
Jamaica's mortgage market in 2026 is dominated by National Commercial Bank (NCB Jamaica), Scotiabank Jamaica, Sagicor Bank Jamaica, JN Bank and the Victoria Mutual Building Society, alongside the state-run National Housing Trust (NHT) which remains the single largest mortgage originator. The Bank of Jamaica has held its policy rate at 6.00% through early 2026 after cutting from a 2023 peak of 7.00%, with inflation now stabilised inside its 4–6% target band. Diaspora remittances exceeding US$3.5 billion annually continue to fuel residential demand, particularly in Kingston, St. Catherine and the north-coast resort corridor from Montego Bay to Ocho Rios.
Why 10.5% is the typical rate
Commercial bank mortgage rates of 10–11% reflect the BOJ policy rate plus a sovereign risk premium, though NHT contributor loans price far lower at 0–5% depending on income band.
Tax & regulatory notes
Transfer tax was reduced to 2% under the Transfer Tax (Amendment) Act and stamp duty is a flat J$5,000 per instrument since the 2019 reform. The National Housing Trust Act entitles every contributing worker to a subsidised mortgage up to J$7.5 million, stackable with a commercial top-up. The Registration of Titles Act and the Stamp Duty Act govern conveyancing, and the Real Estate (Dealers and Developers) Act licenses all brokers through the Real Estate Board.
Local banks Jamaica mortgage rates by bank
The main mortgage lenders in Jamaica, with indicative 2026 rates and typical loan-to-value caps. Rates vary by borrower profile, residency and property type — use the calculator above with each bank's quoted rate to compare your real monthly payment.
NCB (National Commercial Bank)
Jamaica's largest bank and a mortgage market leader. JMD mortgages for residents plus USD options for diaspora buyers; rates trend a few points above the NHT's subsidised tiers.
Scotiabank Jamaica
Major commercial lender competing directly with NCB on rate promotions and pre-qualified salary-account offers. Strong diaspora lending desk for Jamaicans abroad buying back home.
JN Bank & VM Building Society
The mutual/building-society pair with deep roots in Jamaican home lending — often the sharpest rates for first-time buyers and long histories with remittance-funded deposits.
NHT (National Housing Trust)
The payroll-funded state scheme every contributor should check first: subsidised loans at 0–5% by income band, usable alone or stacked with a commercial mortgage from NCB/Scotia/JN.
Indicative rates compiled from public bank disclosures and central-bank data for 2026; not a quote or an offer of credit. Confirm current terms directly with the lender.
A J$18,000,000 mortgage at 10.5% over a 25-year term
$18,000,000 10.5% 25 years (300 months) $169,953 $32,985,812 $50,985,812 
