Mortgage Pre-approvals
If you're looking for your dream home or an investment property, you will want to have the security of knowing what you can spend. Our Pre-approved Mortgage service is free and the process is simple. When it's completed, you will receive a letter confirming the amount the Bank is willing to lend you and at what terms.
Next steps:
- Get a pre-approval
- Complete an application
- Call us on 299-5959, option 5
Need more information?
Home mortgages up to $1,000,000
95% Mortgage Financing is ideal for first-time homebuyers purchasing a property as a residence or an investment. It's available for any mortgage up to $1,000,000 (exclusive of applicable fees and costs).
For a 95% financed mortgage, after 5 years the interest rate can be reduced to our 80% mortgage financing interest rates without penalty.
Other Mortgage Financing
|
Mortgage amount |
% of valuation/cost* |
|
$100,000 to $1,500,000 |
Up to 80% |
|
Up to $2,000,000 |
Up to 75% |
|
Up to $5,000,000 |
Up to 70% |
|
Over $5,000,000 |
Up to 60% |
* The mortgage amount as a percentage of the lower of the current value of the property or, if you are buying a home, its purchase price
What you should know before you apply
- There is an initial fee of 1% of the borrowed amount.
- Terms and rates are subject to change without prior notice.
- All Bank of Bermuda loans are subject to approval.
- View our mortgage rates
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