CHAPA North Sound Community | Eastern Caribbean Amalgamated Bank (ECAB)

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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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