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Project Proposal Information For
Construction Finance
The Jamaica Mortgage Bank (JMB) welcomes applications for
construction finance to facilitate the development of affordable
housing. Project proposal must conform with JMB housing
guidelines to be eligible for consideration of project finance.
The developer must be knowledgeable about the housing sector,
have a good track record and the ability to fund 20% of the
total Development cost.
The projects being presented must have an excellent
probability of being sold before the completion of construction.
An acceptable market survey and/or pre-sale contracts and
affordability analysis of the market can demonstrate this. All
approvals must be available. Construction contracts and
documentation must be available for review. The construction
loan request must be specified with adequate loan securities and
a payback proposal.
The JMB will require information on the items listed below to
evaluate your project proposal for construction finance.
A. Project Data
Information is required to determine the capability of the
developer, land ownership status and the parameters of the site.
Required
Project: Name, location and description of development
Development: A JMB application Form is to be submitted which
will incorporate the developer's track record, personnel,
equipment and financial status.
Location plan and a Surveyor's Identification report
Ownership of Land: There must be a clear title to the land
which is to be developed with no apparent encumbrances or
defects to the Title which will hinder the obtaining of splinter
Titles.
Site layout plan.
Topographic and boundary survey plans.
Soils investigation report.
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