July 25, 2022 | By Colin O. Jarrett |
The Cayman Islands Development Bank (CIDB), has 15 million CI dollars to lend Caymanian mortgage seekers.
The Bank is also offering qualifying borrowers interest rates as low as 3.75% for two years, which is significantly below the current prime rate.
The funds are available to buy or build a home and for mortgage refinancing. The CIDB can lend each borrower up to 600,000 CI$ for up to a 30-year term.
This offer was announced in the last meeting of Parliament and recently launched with an advertising campaign that has gained significant interest among prospective borrowers.