Mortgage Loan Calculator

Our Mortgage Loan Calculator will determine your monthly payments for loan amounts, and associated Gateway fees.

1

What type of Gateway Mortgage Loan are you applying for?

*

Personal Mortgage Loan (For residential homes this option covers 95% of the mortgage.)

Commercial Mortgage Loan (For commercial buildings this option covers 90% of the mortgage.)

Home Equity Sale (For a limited time this option covers 100% of all mortgage request)

2

What priced home do you wish to purchase?

*

"I have been a member of this institution since June 12, 1987. Gateway has continued to provide excellent and professional service throughout this period. I applied for a mortgage loan with Gateway in 2014. When my mortgage loan application was approved I was able to realize my dream of owning a home. Plus the monthly payments are easy and affordable because of Gateway's low interest rates."

MAXINE CAMPBELL HARVEY

GATEWAY MEMBER SINCE 1987

GATEWAY HELPED ME GET MY DREAM HOME

A member can borrow up to 95% of the Market Value for residential mortgages and 90% of the market value for commercial mortgages

The average processing time is 6 weeks from the date of application. This time can be more or less depending on the legal process.

The interest rate for the repayment of the mortgage loan is currently 7.4%.

All applicants must hold 5% of the mortgage amount on shares. Processing fee is charged at 1.5% of mortgage (not exceeding $100,000.00 +GCT). All loans are subject to credit check charges of $1500.

No callateral isn't need, the property will be used as collateral.

NO, there is absolutely no additional charge or interest for earlier closure of a mortgage loan

The maximum repayment time is 30 years, however the number of repayment years will be based on your age.

Approximately three (3) working days after the Credit Union’s interest is registered on the Title

Gateway offer free loan insurance coverage up to $1.5 million, the difference in loan amount is paid by the member. Members have the opportunity of using an existing Life Insurance to offset the difference. Legal fees related to registration of mortgage, title search etc. varies.

No, if you want another property then you would apply for another loan.

Whether you choose to buy or build a home with your mortgage is entirely up to you. However,it is important to look at the your finances before committing to either, and or seeking the professional help of a Realter to assess the best option for you.

With Gateways Mortgage Loan you are able to afford any priced home with no deposit needed, our loan will cover the cost of the entire property whether a home, an appartment, or a commercial building.

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Frequently Asked Questions

Guidance Every Step of the Way

When applying for Gateway's Mortgage Loan our team of experienced professionals will be there to guide you through every step of the process: helping you meet deadlines and complete each step with accuracy and ease.

"During the processing period of our mortgage loan with Gateway, the entire Gateway team was super helpful, patient, cheerful and informative. They answered all of the questions my wife and I had, each time going above and beyond to ensure we were satisfied with our loan. They showed us all the options available to us and made the legal aspect of the mortgage both transparent and understandable. My wife and I are now one year into paying off our mortgage loan and are now proud owners of our dream home and  members of Gateway,"

Get In Touch With Our Team

- Dwight Simms

1.5

Coverage 

mil

$

free

Loan Insurance

Up to

0

%

Down Payment

Required

30

years

Up to

to Repay

7.4

%

Super Low

Interest Rate

What To Expect

"I have been a member of Gateway for the past 11 years. I must say that so far, with their low interest rates, professional customer service and the speed of how they do business, I am on the path to achieving some of my long term financial goals. They helped me realize my dream of becoming a home owner. Gateway is for the people and I would recommend it to anyone looking for an amazing mortgage plan."

MR. OLIVIA SEWELL

GATEWAY MEMBER & FIREFIGHTER

GATEWAY IS FOR THE PEOPLE

Gateway Mortgage Loan Requirements

"The mortgage loan you need, to afford the home you deserve."


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Sign up for more info.

Need More Info?

Or contact us on any of the following platforms:

Lucea Branch:

Montego Bay Branch:

Main Street,

6 Sam Sharpe Square

Lucea, Hanover

Montego Bay, St. James

(876) 619-0718-9 

(876) 952-1190-2

Start Process Today

Realize your dream of home ownership today with our quick and hassle-free Mortgage Loans. Take advantage of the Gateway Mortgage and Home Equity special: with interest rates as low as 7.4 %, with 0% down payment and up to 30 years to repay. At Gateway we believe in your financial growth, stability and security. At Gateway we have the key that will open the door to your financial success.

At Gateway we believe in a transparent and guided application process, as such we have outlined below the 6-steps that our members have taken along their path to getting their mortgage loan with Gateway.

Step 1

After collecting all required documents, feel free to walk in for an interview at any of our locations. This interview is done by Credit or Sales officer to assess your qualification.

Quick Interview

Step 2

Relevant documents and the completed application form are then submitted to the relevant manager or approval body.

Mortgage Approval

Step 4

Signed & Notarized

The applicant will collect and sign the mortgage deed and have it notarized by a J.P. and return it to the Credit Union’s Office. 

Step 3

After approval, the member's file is passed on to the Legal department for the preparation of the preparation of the mortgage deed. 

Mortgage Deed

Step 5

Titles Office

The document are sent to the Titles Office for the processing and registration of the mortgage. 

Step 6

Mortgage

Finally, after the mortgage is registered payment will be issued to the mortgage recipient within the days that follow.

Up tohour

5 working days

5 working days

2-3 working days

2-3 weeks

1-5 working days

May take

May take

May take

May take

May take

May take

Start Process Today

WE ARE YOUR 

GATEWAY

TO...

... YOUR DREAM HOME

Signed Sales Agreement

Evidence of Deposit

Up-to-date Property Tax Receipt

Copy of Registered Title

Last 2 Months Pay Slips

Birth Certificate

Job letter

Surveyor’s Report

NHT Referral Letter

Discharge of Mortgage

Valuation Report

Letter of Guarantor

Income Statements

Expenditure Statements

Cash Flow Projections

Approved Building Plan

Cost Estimate for work to be done

Written Agreement with Contractor

Quantity Surveyor’s Report (with estimated cost)

Mortgage Calculator ⬎

"I have been a member of Gateway for the past 11 years. I must say that so far, with their low interest rates, professional customer service and the speed of how they do business, I am on the path to achieving some of my long term financial goals. They helped me realize my dream of becoming a home owner. Gateway is for the people and I would recommend it to anyone looking for an amazing mortgage plan."

MR. OLIVIA SEWELL

GATEWAY MEMBER & FIREFIGHTER

GATEWAY IS FOR THE PEOPLE