Home Mortgage Loans

If you are considering making the major step of buying the very first home of your own, we are here, ready and willing to help. With Commonwealth Bank’s financial experience, we are able to offer a complete mortgage service and rates that are extremely competitive in The Bahamas, to suit your individual needs.

There are a number of mortgage options available to you. Commonwealth Bank offers mortgages for the purchase or construction of:

  • Single Family conventional owner occupied homes
  • Townhouses, Condominiums and Apartments (Duplex, Triplex)
  • Residential equity lending for additions and improvements to home
  • Real Estate

Getting Started: To more readily assist our Customer Service Representatives please bring in the relevant items from the following list:

  • Letter of employment (if self employed, evidence of income, i.e. Financial Statement, Profit or Loss Statement etc).
  • Bank reference letter (if not present CB customer)
  • Annual Life Insurance Policy (not less than amount to be financed on main income earner).
  • Homeowner Insurance Premium for the replacement value of property.
  • Contractors policy during construction period.
  • A copy of the purchase agreement (if buying) alternatively proof of ownership.
  • A copy of the first four pages of passport.
  • National Insurance Card
  • Mortgage Certificate (if applicable).
  • Two estimates from licensed contractors for the completion of the project (if building).
  • The most recent statement in respect of service charges.
  • The most recent statement in respect of maintenance charges (condominiums only).
  • Evidence of Customs Duty status (developed properties, Freeport only).
  • Most recent Real Property Tax bill with evidence of payment.
  • An appraisal of the property within the last twelve months, by a Bank approved appraiser.

Who’s eligible for a loan?

  • Provided you are eighteen years old, Commonwealth Bank could offer up to 95% of the requirement based on the value of real estate, with a maximum term of 35 years.
  • You should be stably employed with a minimum of two years employment on the present job.
  • All applicants must fall within the Bank’s credit requirements.