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Mortgage

A mortgage is an important long-term investment that should be considered carefully.

Let WIB guide you in purchasing your first plot of land, your first house, to construct or renovate your home.

  • What documents should I bring when applying for
    a mortgage loan to purchase land or existing house?
  • What documents should I bring when applying for
    a loan to construct, to expand or to renovate a house?
  • We will consider your project with attention.
  • Fun Miles with every approved mortgage.
  • Best rates, and better deals.
  • For more information, check our Mortgages Brochure.
Appraisal reports maybe requested from any of the following:

- IXI Design N.V.
  (+1 721 544 6028)​

- Independent Consulting Engineers
  (+1 721 542 2421)

- Knight Enterprise
  (+1 721 542 2475)

- Jose Zimmerman
  (+1 721 522 7868)

- David Morrison
  (+1 721 542 2719)

- Sherylle De Haarte-Horsford
  (+1 721 520 8544)

Review the Mortgage requirements here and apply for a mortgage!

You can also call us for more information: (+1 721) 546 2942

  • WIB Statement of Affairs (to be completed in full)
  • Valid picture-ID or passport- spouse also (with residence papers)
  • Statement of employment or Job Letter - spouse also ( addressed to WIB)
  • 2 last salary slips -spouse also
  • Utility bill or a Registration Form from the Census Office (Utility bill in customer’s name) (registration form not older than 6 months)
  • Rental contract with last 2 receipts (only for persons renting)
  • Your height, weight, doctor’s name and address, beneficiary, and list any sickness (for insurance purpose) - spouse also
  • Deed of property
  • Building permit
  • Contractor’s estimate
  • Sales and Purchase Agreement
  • Appraisal Report
  • Expected Rental income (if any).
  • Extract from the Kadaster (confirming ownership).
  • A copy of your Tax Form, Financial Statement for last 3 years (Persons who are Self Employed)
  • A copy of the excerpt from the Chamber of Commerce & Industry. (not older than 6 months)
  • A copy of the Financial Statement for the last two years.
  • A copy of the Articles of Incorporation. (Non-Profit Organizations). 

Frequently Asked Questions on Mortgage Loan Applications

What documents should I bring when applying for a loan to purchase land or an existing house?
  • Copy of valid ID (ID-card, passport or driver’s license)
  • Job reference letter stating earnings and duration of employment
  • Last 2 salary slips
  • An acceptable bank reference (if not a WIB client)
  • Two Acceptable bank references (NonResidents)
  • Appraisal report
  • Purchase-sale agreement with seller /developer
  • Quotation of life and or property insurance for the requested amount (for the purchase of land. only life insurance is applicable).
What documents should I bring when applying for a loan to construct, to expand or to renovate a house or building?
  • Copy of valid ID (ID-card, passport or driver’s license)
  • Job reference letter stating earnings and duration of employment
  • Last 2 salary slips
  • Tax return statement or equivalent for the past 2 years (Non-Residents)
  • An acceptable bank reference (if not a WIB client)
  • Two Acceptable bank references (NonResidents)
  • Appraisal report
  • Copy of ownership deed on the property in question
  • Copy of architect’s plan on house design
  • Copy of building permit
  • Copy of construction estimate by a construction company
  • Quotation of life and or property insurance for the requested amount
  • Quotation of Construction All Risk insurance where applicable.
What is an appraisal report?

An appraisal report is a report, prepared by a certified appraiser, in which the market value, the auction value, the replacement cost and (if applicable) the cost to complete construction of the property in question are assessed.

Market value reflects the actual value or selling price of the property at date of inspection. Auction value is the estimated price the property would fetch if it were to be sold on auction. Certificate of Admeasurement shows the particulars and the identification number of the property as assigned by the Land Registry Office (Kadaster).


Appraisal reports may be requested from any of the following:

IxI Design N.V. Tel (721) 542 6028
Independent Consulting Engineers Tel (721) 542 2421
Knight Enterprises N.V. Tel (721) 542 2475
Jose Zimmerman Tel (721) 522 7868
David Morrison Tel (721) 542 2719
Sherrylle De Haarte-Horsford Tel (721) 520 8544 
What other requirements should I consider when applying for a mortgage loan?
  • Personal Statement of Affairs (PSoA)
  • Own capital input, minimum 10% for Residents (20-25% for Non-Residents)
  • Collateral value
  • Notary and closing costs 
What is a Personal Statement of Affairs?

PSoA is a standard form used by the bank to gather financial and other pertinent information on the principal(s) to assess their current financial situation. This form is required by the bank when applying for a mortgage loan. 

What are the standard costs that must be considered when applying for a mortgage loan?
  • Bank’s closing fee. ranging from 1% of the approved loan amount
  • Costs of transfer tax when purchasing land or house
  • Costs of notary and mortgage fees when land or house is already owned
  • Cost of life insurance, for all mortgage loans
  • Costs of property insurance, for all mortgage loans except for the purchase of a piece of land
  • Construction All Risk (C.A.R.) insurance, for the duration of the construction period and to be converted into a regular property insurance upon completion of construction.

Banks (lenders) usually require input from borrower to ensure their commitment to the investment. 

What will the bank require as collateral?
  • First mortgage on the property
  • Assignment of life insurance for the loan amount
  • Assignment of adequate property all risk insurance, including hurricane coverage
  • Monthly insurance coverage for annual payments of insurance premium(s).
What is collateral?

Collateral is a security the bank will eventually rely on for repayment or recovery of the debt in event of default by borrowers. There are several types of collateral, for example:

  1. Cash collateral, e.g. time deposits, savings, investments, etc.
  2. Tangible collateral, e.g. mortgage on land, house or a commercial building.
  3. Soft collateral, e.g. assignment of receivables, of life and or property insurance, personal guar- antee, etc. 
Do I need to have insurances in place?

Yes, the Bank requires life insurance to secure repayment of the loan in event of death of the borrower. In such event the insurance company will repay the outstanding balance of the loan and pay the remainder to the beneficiary of the policy. The property insurance is to protect against risk of damage by fire, hurricane riots, flood, etc.

How long can the repayment period be?

The repayment period depends on the applicant’s age. We consider 65 the maximum age to have the loan repaid, thus maximum repayment is 65 minus age of applicant.

What are the factors determining the amount one can qualify for?

The age, the gross salary and current liability(ies) of the applicant. 

Can I use the income from my business and or rent as a source of repayment?

In principal yes, based on a case-by-case basis.

What is the interest rate for a residential mortgage loan?

This differs for each application, as the rate depends on the own input, collateral being offered, repayment capability, etc. Basically, the more you can offer the better rate you can negotiate. The interest rate is subject to changes by Management during review.