How the National Housing Trust Jamaica Can Help You

by Crystal Holness
Published September 3, 2015

Discover How the National Housing Trust Jamaica Can Help You

Since 1976, the National Housing Trust of Jamaica or NHT has been providing Jamaican families with the funds they need to purchase affordable, quality housing. The low rates they offer compared to more traditional lending institutions allows more Jamaicans the opportunity to own their own homes.

What's more, the NHT is unique in that it is also willing to consider loan applications from those who are not Jamaican nationals, but wish to purchase property on the island. Anyone who is interested in the prospect of buying a home in Jamaica should consider contacting this respected organization to make their dream house become a reality.

What is the NHT ?

The inception of the National Housing Trust began as an amendment to the National Insurance Act in 1976. Its primary aim was to increase the amount of quality housing available to Jamaicans, and at the same time allot financial assistance to those who demonstrate the most need for it and are looking to buy or build a home or carry out necessary repairs on their current residence.

It is a statutory, public sector enterprise, that is regulated by the national government. NHT receives its funding through contributions of employed and self-employed persons living in
Jamaica, as well as businesses and those who do not live on the island but have an interest in the possibility of purchasing or constructing property there in the near future.

Who is Eligible for an NHT housing loan ?

In order to qualify for funding from the National Housing Trust, applicants must be active contributors to the organization.

Contributors are defined as those who are older than 18 but have not reached retirement age, earning at least the minimum wage, and they can be either Jamaican or non-Jamaican.

The loan application process and number of required contributions differs slightly depending on which category the applicant falls under; Jamaicans who live in Jamaica, non-Jamaicans who live in Jamaica, Jamaicans living abroad, and non-Jamaicans livings abroad.

Jamaican Applicants Living in Jamaica

People who currently reside in Jamaica and work there are required to have already made at least 52 weekly contributions in order to be eligible for a housing loan.

Furthermore, a minimum of 13 of these payments must have been made in the 26 weeks immediately preceding the date of the loan application.

Jamaican Applicants Living Abroad

Jamaicans who do not currently reside on the island, but have made contributions in the past are subject to the same policy which applies for people who presently live and work there. Those
who have not made any contributions during their period of residence in Jamaica will need to make two year's worth of contributions, 104 weekly payments or the monthly equivalent before they can qualify for a loan.

Non-Jamaican Applicants Living in Jamaica

Non-Jamaican individuals who live and work in Jamaica can apply for a loan from the NHF once they have contributed to the organization for a minimum of two years.

If approved, they have the same access to the exact same funding and benefits as Jamaican applicants.

Non-Jamaican Applicants Living Abroad

Non-Jamaicans who don't at present live and work in Jamaica may also qualify for a housing loan if they make contributions for at least two years, the same as for non-Jamaicans who do reside on
the island. Payments can be either made directly to the NHT or through a liaison person living in Jamaica who can do so on the behalf of the applicant.

Get more answers to your NHT questions here.

To learn more about the National Housing Trust Jamaica, visit their website at: http://www.nht.gov.jm/

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