Financing a Purchase in TCI
If you are looking at financing a purchase of a residential or commercial property in Turks and Caicos, we can help. We are a direct lender who offer private mortgages in TCI for clients on highly marketable properties. Unlike the local banks who have difficult and long underwriting processes, we are common sense equity-based lenders. We make it easy to get a mortgage in TCI.
Many of our home loans are designed for those who may not be looking for a long term solution. A bridge loan can give clients the time they need to arrange a preferable long term answer.
Private Home Loan
Our private mortgages are qualified primarily on the equity (the amount of your down payment) a client has in the home. Of course we also require the properties to be marketable, which means they must be in the tourist based areas. Our qualification process is quick and easy. Although the banks can sometimes offer options with a bit less down payment, the difference is usually small and we can approve you much quicker without all the stringent guidelines. Banks have a well earned reputation of requiring a lot of paperwork in TCI, whereas private lending is very quick and straight forward.
For most non-resident borrowers looking to finance a property, private mortgages in Turks and Caicos are the best option. If you don’t have the cash to buy your vacation home, our home loans are a great solution. Talk to us today about the options we have for your situation.
Quick Approvals
We can have your deal approved in no time, without all the documentation or hassles.
Mortgage Tools
Cutting edge mortgage tools to make the process from application to loan reporting easy and accessible.
Fast Fundings
We can usually fund your loan in 3 weeks, compare that to the banks!
Flexible Terms
Flexible repayment terms to accommodate your specific situation. Payments as low as interest only.
Protect your Privacy
We don’t report your mortgage to any credit reporting agency.
No Credit Checks
We do not confirm income or credit on our applicants for standard mortgage applications.
Lending Criteria
| Property Types | Residential, construction, land, commercial |
| Loan to Value | 65% |
| Mortgage Charge | 1st Mortgages only |
| Borrower Type | Corporations |
| Locations | Providenciales, Parrot Cay, Pine Cay, North Caicos |
| Terms | 1 or 2 Year Renewal Terms |
Our Standard Home Loan in TCI
Our standard mortgages are for existing, income producing (or potentially) properties. A typical loan would be for a Grace Bay condo, or vacation villa on or near the water. We also lend on principal residences as well, however the home must meet the same marketability guidelines. We offer loans on purchases as well as refinances.
These standard home loans would be the lowest rate mortgages we offer. Other loan types, such as land/construction, or for less marketable locations (not on Providenciales) there could be a rate premium. Our rates are always based on the perceived risk to our investors, however we aim to be the best priced mortgage fund on island, with closing costs that are very comparable to the banks.
Commercial Property Financing
Commercial financing is also available through the fund. The type of commercial property is key along with the location, as we are still trying to maintain our goal of being a ‘tourism’ related mortgage fund. Although the rates are a bit higher than our standard terms, the speed and ease of qualification make GPC a desirable option for financing your commercial space.
We are primarily looking for income generating properties. These properties could include retail, office space, construction etc. We do not finance businesses however, we only finance the building they operate.
Resort and hotel properties will be considered however the mortgage amount must be within our approval limits.
Talk to us today about your commercial financing needs in Turks and Caicos!