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GGHAM – FAQs

Government Guaranteed Home Assisted Mortgage (GGHAM) – The Cayman Islands Government, working with National Housing Development Trust and local private banks, are providing mortgages to Caymanians and Caymanian Status holders.

Butterfield Bank (Cayman) Ltd.
Cayman National Bank
Fidelity Bank (Cayman) Ltd
First Caribbean International Bank
Royal Bank of Canada
Scotiabank &Trust (Cayman) Ltd.

The Government Guaranteed Home Assisted Mortgage (GGHAM) is a great way to home ownership for people with the financial means to qualify for a mortgage from a private bank, but who lack the required capital injection (deposit), to achieve home ownership.

Under this scheme, applicants can qualify for up to 100% of the loan amount, including closing costs, provided the total amount does not exceed the current market value of the home being purchased.

The maximum loan amount is CI$200,000 with government guaranteeing a maximum of 35% of the loan amount.

The primary applicant must be Caymanian or Caymanian Status holder. Must be a first time home owner. A participant’s maximum annual household income must not exceed CI$75,000.00 (joint or single).

The loan ratio should not exceed 33% of the borrower’s monthly gross income or, if less, 45% of the borrower’s monthly gross income less the aggregate amount of all other monthly re-payments of debt by the borrower.

The primary criteria are:

  • The applicant must be Caymanian or a Caymanian Status holder, and be a first time home owner.
  • A participant’s maximum annual household income must not exceed CI$75,000.

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