Government making home buying easier - Business - Jamaica Gleaner - Wednesday | April 25, 2012

Government making home buying easier - Business - Jamaica Gleaner - Wednesday | April 25, 2012: "The Jamaican government has signalled it is willing to increase the appraised value of a property on which a mortgage loan can be granted but says it will require changing the Mortgage Insurance Act.

The amendment to the law would increase the allowed value for financing from 90 per cent to 97 per cent.

Homebuyers also typically pay 10-15 per cent as deposit on purchases, plus another 2 per cent on average for closing costs. That too will change."

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