Residential

Owning a home is a top priority for many Bahamians and an important aspect of a comfortable and secure lifestyle for a family. British American Financial makes the dream possible through the provision of low interest mortgages that fit the needs of Bahamians at different income levels and from different walks of life.

With interest rates as low as 8.5% British American provides flexible terms to suit your needs:

Terms:

• Down payment - as little as 5 % down with Mortgage Indemnity Insurance
• Up to 30 years to pay
• Financing for construction and existing properties 
• Reduced Commitment fees
• 48 hour approval

Applicants and co-applicants are not restricted to husband and wife but may also include siblings and parent/child relationships.

Ask about our Home Ownership Savings Plan.

Commercial

British American Financial also provides financing for commercial buildings. 

Terms:

• Down payment - as little as 25% down with Mortgage Indemnity Insurance
• Up to 15 years to pay
• Financing for construction and existing properties
• Reduced Commitment fees 
• 48 hour approval

Mortgage Loan Requirements

1. Employment/ Income Verification:
   • Date of employment
   • Position
   • Annual salary
   • Length of service
   • Prospect of continued employment
   • If present employment is less than two (2) years, a letter is required from previous employer.
   • If self-employed, last year’s audited Financial Statements. If unaudited, bank statements for the same period.
2. Bank references for deposit and loan accounts (printouts from banks showing payoff amounts, account numbers, name of bank and location).        
3. Copy of Sales Agreement.
4. Evidence of deposit paid (original receipt, cancelled check or confirmation from Real Estate Company or Lawyer holding deposit).  
5. Photograph/Identification – Passport, Voter’s card and National Insurance Card.  
6. Appraisal Report
7. Copy of latest Real Property Tax Bill or receipt of payment.

Construction Loans 

    8. Copy of at least three (3) estimates for construction.            

    9. Contractors Builders Risk Insurance  

Branch Locations

British American Financial has six conveniently located offices in Nassau, Freeport, Exuma and Abaco to serve you. Our Sales Agents also service all of the Family Islands.

Island Phone Fax Head Office- Independence Drive Nassau  242-461-1000  242-361-2524 Carmichael Road Nassau  242-341-7142 242-361-6862 Rosetta Street, Palmdale  Nassau  242-322-1801 242-356-3626 Freeport, Queen's Highway Freeport 242-352-7209 242-352-7200 Exuma, George Town Exuma 242-336-3035 242-336-3038 Marsh Harbour Abaco 242-367-5601 242-367- 5604 Contact us for more information