Low Cost
Mortgages
Our Low-Cost Mortgage Facility is designed to make home ownership more affordable to the lower income bracket and first time homeowners. Our aim is to provide assistance to eligible borrowers who wish to purchase land and/or construct a residential property.
Please note that the land is not restricted to those allocated by the Government.
Easy
Home Loan
Our Easy Home Loan Facility is designed to provide assistance to eligible borrowers who wish to purchase, construct, renovate or extend residential property. This loan is ideal for persons seeking residential mortgage financing of values above $8M for:
- Purchasing or building a house
- Renovation or extension of owner occupied properties
Equity Contribution (Down Payment)
- For purchase/construction a minimum of 10% of the purchase price/cost of construction. For construction purposes, the market value of the land can be taken into consideration.
- Renovation/extensions – none required
Set for Life
Our Set for Life, Home Equity Loan Facility allows a residential homeowner to borrow money using the equity in their home as collateral. The available equity can be used to obtain funding for the following:
- Home Improvement and Furnishings
- Vacation Expenses
- Educational Expenses
- Medical Expenses
- Wedding Expenses
- Liquidation and/or Consolidation of Debt
- Car Expenses
- And much more
Download our FREE
Mortgage Process Checklist
All the requirements, documents and other information you need to know about when applying for a Republic Bank Mortgage
Calculator
As part of budgeting for a mortgage, you need to consider fees and charges. Some of these include stamp duty, insurance costs, legal fees, application fee, contingency etc.
These vary depending on the cost of the mortgage and we’d be happy to help you understand and determine your fees and charges, so talk to us today.
Mortgage Calculator
Let’s Make It Happen …
Whether it’s a modest starter home, an upgrade to a larger dwelling or the house of your dreams, nothing compares to having your own.
-
4.25%Minimum Interest Rate
-
30 yearsMaximum Term
-
No Ceiling*For EasyHome Loans
-
10%Maximum Rate
Whether it's a modest starter home, an upgrade to a larger dwelling or the house of your dreams, nothing compares to having your own. Owning your home will be one of the most substantial investments you may make in your life and having a knowledgeable partner, the best rates and excellent service can help make your dreams a reality.
Republic Bank has a mortgage package aligned with your financial situation and we have now ensured that getting the information that you need and applying is easier than ever before.
Make Your
Dream Home Happen
Sign up and let’s get started
Online
Mortgage Centre
Mortgage Monday!
Reduced Rates
and Prizes
you will get:
- 8.45% on Mortgages over $10 million & up to $12 million and 10% on Mortgages over $12 million
- Extended financing for obtaining additional items at the time of application such as furnishing etc.
- One random customer at each branch that has their mortgage loan approved, will WIN a cash prize of $50,000
Low Cost
Mortgages
Our Low Cost Mortgage Facility is designed to make home ownership more affordable to the lower income bracket and first time home owners. Our aim is to provide assistance to eligible borrowers who wish to purchase land and/or construct a residential property.
Please note that the land is not restricted to those allocated by the Government.
Easy
Home Loan
- Purchasing or building a house
- Renovate or extend owner occupied properties
- For purchase/construction a minimum of 10% of the purchase price/cost of construction. For construction purposes, the market value of the land can be taken into consideration.
- Renovation/extensions – none required
Set for Life
Our Set for Life, Home Equity Loan Facility allows a residential home owner to borrow money using the equity in their home as collateral. The available equity can be used to obtain funding for the following:
- Home Improvement and Furnishings
- Vacation Expenses
- Educational Expenses
- Medical Expenses
- Wedding expenses
- Liquidate and/or Consolidate Debt
The Mortgage Process
Mortgage Certificate Stage
The Mortgage Certificate is a form of pre-qualification for the loan and is presented to you after Republic Bank analyzes your current income, debt servicing and basic credit history to determine the maximum loan amount for which you may qualify. This is of course subject to the value of the property representing an acceptable loan to value ratio and the location of the property being acceptable to the Bank
Your Mortgage Certificate is valid for a period of three months from the date of issuance and allows you the opportunity to locate your land, dream home or building contractors (when constructing your home). If you do not have all the required documents (listed below) on hand when you visit our branches, our Sales Officers can still calculate the financing for which you qualify by asking you a few questions during the interview. You will get the official Mortgage Certificate when you bring in the required documents at a later date.
Documents/ Information required
- A letter from your employer stating salary, allowances, employment status and length of service, as well as a recent payslip. For self-employed persons instead of a payslip you can provide a certified statement of income (prepared by an accountant) or financial/bank statements for the last three years
- The name and address of your bankers
- All bank and other financial institutions statements reflecting your deposit and loan balances with applicable installments. This information can be retrieved for Republic Bank customers.
- Two forms of valid identification (ID card, Passport or Driver's Permit
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Download our FREE
Mortgage Process Checklist
All the requirements, documents and other information you need to know about when
applying a Republic Bank Mortgage
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]Calculator
As part of budgeting for a mortgage, you need to consider fees and charges. Some of these include Registrar Fee, Stamp Duty and Government Tax, Attorney Fees and Fire and Life Insurance.
These vary depending on the cost of the mortgage and we’d be happy to help you understand and determine your fees and charges, so talk to us today.
Mortgage Calculator
Let’s Make It Happen …
Whether it's a modest starter home, an upgrade to a larger dwelling or the house of your dreams, nothing compares to having your own.