Refinancing your TCI Home
A large percentage of home owners in Turks and Caicos purchased their vacation property with cash or equity from their property at home. The difficulty in borrowing from the local banks, and the higher rates of interest made financing here less attractive. With the incomes generated from these properties today however, a lot of clients are reconsidering keeping so much equity tied up in one property.
For this reason, more and more clients are asking if they can refinance a Turks and Caicos property to access their home’s equity. Unfortunately, it can still be difficult to qualify at the local banks for non-residents. This is where we come in, with our private financing options.
Private Mortgage Refi’s
The refi’s we offer are quick and easy, with very little qualification outside equity and marketability of the property. We can refinance up to 65% of the value of your property, which is right in line with what the banks offer, without all the documentation and hassle.
The rates on our mortgages are higher than what you pay at the bank. The upside however is the ease of qualification, speed we can advance funds, and the ability to pay only your interest every month. This means in many cases, our payments are lower than what you pay at the bank.
Fast Fundings
We can usually fund your loan in 3-4 weeks from commitment to funding.
Reasonable Rates
Our private mortgage rates for existing, income producing properties are very competitive.
Easy Approval
We don’t do any credit checks or income verification, we are equity lenders.
Flexible Terms
We can tailor the mortgage for your timeline and situation.
Access Your Equity
Get access to the equity in your TCI vacation property.
Great Service
We appreciate our clients, and appreciate the fact that banker’s hours do not work for everyone.
Property Requirements
We are in the tourism related market, so the properties in our fund must meet this description.
Typical Properties
- Grace Bay condos
- Vacation villas
- Principal residences with short term rental potential
- Land deals must be in highly marketable areas
- Long term rental properties okay if in marketable areas
- Income producing commercial properties okay
- Other islands outside Provo on a case by case basis
![TCI7](https://gpcfunds.com/wp-content/uploads/2021/07/TCI7.png)