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CHAPA North Sound Community

Northsound Residential Community Project

CHAPA has created this community to provide affordable housing for the civil servants of Antigua & Barbuda.

Basic Requirements to be eligble are as follows:
  • Applicants must be Antiguan citizens.
  • Applicants must be or have been employed in the goverment service for a minimum of five (5) years.
  • Applicants must be first time homeowners.
  • All applicants must be pre-approved by CHAPA.
Northsound Residential House Models
  • Cuyagua: 2 Bedroom, 2 Bathroom - ECD $206,185.70
  • Choroni: 3 Bedroom, 2 Bathroom - ECD $244,025.46
  • Aroa: 3 Bedroom, 3 Bathroom - ECD $257,271.15
Feautures
  • Only 10% cash equity is required. We will finance up to 90% of the cost of the property
  • Competitive interest rate charged on a reducing balance basis
  • Maximum term up to 30 years to repay
  • Loan proceeds disbursed in accordance with purchase agreement
Benefits
  • Speedy approvals
  • No penalty for accelerated repaymemts (repayment greater than specified regular payment amount) or early loan pay-off providing the Bank is given 3 months notice.
  • Monthly deductions include 1/12 of annual life and property insurance premiums paid to insurance providers on your behalf.
  • Dedicated and knowledgeable Credit staff to counsel and assist with questions or queries.
Requirements
  • Valid Antigua & Barbuda passport/ Proof of Antigua & Barbuda citizenship
  • Job letter confirming salary and terms of employment
  • Bank reference
  • Evidence of equity (10% of the cost of the property)
  • Assigned property insurance coverage for the full replacement cost of the building
  • Assigned life insurance coverage for the full amount of the loan
Charges
  • Reduced Legal and Negotiation fees.

More information can be found in Northsound Residential Community Project brochure or you can Apply Today.

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