Building a Home

Whether you own the land and want to build or you are purchasing land and building, SMFC is ready to help make those house plans a reality.

No deposit down!

If you own the land already then you may enjoy 0% down, leaving you with cash to help cover other needs.

Low interest rate

Attractive and irresistibly low interest rates calculated on the reducing balance.

Flexible repayment terms

Our repayment terms are tailored with you in mind. With up to 30 years to pay back, plus and option of paying more than your legal obligation with no prepayment penalty, we help ensure that your payments fits your budget.

Automatic Property Insurance Cover

When you build your home you get  Contractors all risk i.e. coverage during construct and once the house is completed we convert to comprehensive home-owners insurance cover i.e. cover for the full replacement cost of the building regardless of loan balance. So whether hurricane, landslip, or fire threatens, continue to have sweet dreams- your investment will be protected over the span of your mortgage.

Documentation required;

• Copy of Title Deed
• Copy of Survey plan of land
• Extract from Land Register
• Registry map sheet & location plan
• Approved House plan
• Builders quotation
• 2 forms of picture identification
• Job letter & recent salary slip
• 2 years audited accounts or tax returns (self-employed persons)
• Copy of power of attorney (overseas applicants)

Fees;

• Application fee -$50
• Valuation fee $250-$350 (depends on the location)
• 1% Commitment fee
• Viase fees- (depends on the loan amount)
• Inspection fees-$1500 (covers the valuers visits during construction)

At SMFC we guide you through the construction process to help make it as easier as possible, we take care of you from the initial interview, through construction and beyond.