Our 11-Step guide to the Mortgage Process

While finding a new home can be exciting, navigating the mortgage process can be overwhelming for some. The Kemtek Team will work with potential homeowners to assist with providing the necessary information to help you better navigate the process.

Step: 1

Get pre-approved for your mortgage application from a reputable financial institution to determine how much you are qualified to borrow from a financial institution.

Step: 2

Select Your Lot and Pay the Deposit.

(Please bring your pre-approval/eligibility letter, photo identification and TRN card/letter with you).

Step: 3

Your initial package including your Agreement for Sale, Property Owners’ Management Agreement and Instrument of Transfer will be prepared and dispatched to you.

Step: 4

Sign and return all copies of the contracts to our Kemtek office.

Step: 5

Collect your Package. (Where applicable, submit your mortgage application to a reputable local financial institution for approval within the time stipulated in your Agreement for Sale)

Step: 6

If using your own resources to complete the purchase, ensure that a letter of hypothecation or undertaking is issued within the time stipulated in your Agreement for Sale.

Step: 7

Once your application has been processed and approved, your Mortgage Company will issue the approval in the form of a Letter of Commitment and Letter of Undertaking to our Attorneys. Our Attorneys will advise you in writing when they receive same and if there is a “shortfall” to be paid. A shortfall is the difference between the loan amount and the balance due to close the sale.

Step: 8

Pay the shortfall amount, where applicable.

Step: 9

Once the unit is certified as being practically complete, our Attorneys will request payment by you (cash) or mortgage proceeds (mortgage).

Step: 10

Possession and inspection will be scheduled for the delivery of keys upon receipt of the final payments due.

Step: 11

Upon completion of the unit and after our Attorneys confirm receipt of the mortgage proceeds, collect your letters of possession and keys.

Our Attorneys

  • Attorneys-at-Law
  • Unit 19
  • 80 Lady Musgrave Road
  • Kingston 10
  • Jamaica
  • Tel: (876) 648-2880 & (876) 649-0266
  • Attorneys-at-Law
  • 6a Holborn Road
  • P.O. Box 95
  • Kingston 10
  • Jamaica
  • Tel: (876) 960-8995 & (876) 960-9008