Life
This mortgage is structured as an interest-only loan, linked to a life insurance policy. You don’t have to make any repayments during the loan term. Each month, you only pay the life insurance premium and the monthly interest. Because the loan principal is not reduced, you benefit from the maximum income tax deduction.
When the life policy matures, ENNIA pays a lump sum benefit (this is the saved amount + surplus interest), which is used to pay of the mortgage. The advantage of the life mortgage is that the monthly payments are stable, because your gross and net commitments remain the same over the full loan term.
At ENNIA, we believe it is important for you to find the home loan on St. Maarten that suits your personal situation and budget best. Our home loan consultants are happy to discuss your situation with you.
They will look at your income, and possibly your partner’s income, as well as your fixed and variable overheads. This information is included in the ‘home quote’: the maximum percentage of your income you may commit towards your home loan repayments.
A mortgage commitment for a big part is made up of interest. If interest rates are low, you can borrow more, and vice versa. The value of your home is taken into account too, since your home provides security for the lender.*
* If you default on your home loan repayments, the lender is authorized to sell your property on St. Maarten as a last resort.
Ask ENNIA or your independent adviser for personalized advice.
You can find the forms here.
Folder Second Home_NED
Folder Koral Partier: Uw eigen woning binnen handbereik_NED
ENNIA St. Maarten
W.J.A. Nisbeth Road 97
P.O. Box 394
Philipsburg
St Maarten
T- (00 599) 543 2232
F- (00 599) 542 4045
mail@ennia.com
www.ennia-stmaarten.com
Go to the contact page.
