Through the NHDT’s Lease To Own (LTO) Program a portion of all homes built in NHDT affordable home communities will be available for qualifying applicants. Applicants who do not currently qualify with any of the local lending institutions may be eligible to partake in the NHDT Lease to Own program. Our goal at the NHDT is always Caymanian home ownership and after a period of 5 years all LTO participants will be given the opportunity to purchase their leased home outright.
Qualifying Criteria:
1. The home being purchased is to be the applicant’s primary residence, and the applicant is to reside in the home.
2. Applicants must be Caymanians or must hold Caymanian Status.
3. Applicants must currently reside in the Cayman Islands and must be employed so that his / her salary can be assigned to the NHDT and acknowledged by the Employer.
4. Applicants must not be earning more than:
a. CI$3,000 per month or CI$36,000 per year for single applicants; or
b. CI$4,500 per month or CI$54,000 per year for joint applicants.
5. Be currently employed for at least six months, or self-employed for at least two years (Self- Employed applicants must provide minimum 2 years’ financial statements as part of the NHDT pre-assessment prior to applicants proceeding to the Bank to obtain mortgage financing).
6. Application forms will only be accepted when all the required documents have been presented to the NHDT.