Mortgage rates in Jamaica, with the day we read them.
The mortgage rates Jamaican lenders publish, read on their own pages on 2 October 2026. Where a lender shows no rate, or the page is old, the table says so.
Figures checked against official sources on .See the sources
Lowest published mortgage rate
8.49% a yearBanks and building societies
| Lender | Rate a year | Conditions | Source |
|---|---|---|---|
| ScotiabankMortgage | 8.50% to 12.49% | Up to 95% financed, up to 30 years. As little as 5% down. No maximum age is published. | |
| NCBSummer mortgage campaign | From 8.45%Ended | Up to 100% financed, up to 40 years.The campaign ran from 1 July to 30 September 2026. NCB's mortgage page still shows 8.45%, but the offer has ended. | NCB's pageRead |
| NCBMortgage | Not published | Up to 90% financed, up to 35 years. Up to 35 years, or until you turn 70. Up to J$40 million on a home you live in and J$30 million on an investment property.Outside its ended summer campaign, NCB publishes no mortgage rate. Its pages also disagree on terms: the campaign offered up to 100% over 40 years, while the FAQ says typically no more than 90% over 35 years. | NCB's pageRead |
| JN BankJN Home Loan | 9.85%May be out of date | Up to 90% financed. To buy or build. Maximum term and age are not published.JN's mortgage rates page has no date and was last changed in May 2024, so these rates may be out of date. | JN Bank's pageRead |
| JN BankSwitch (move your mortgage to JN) | 9.85%May be out of date | Up to 85% financed.JN's mortgage rates page has no date and was last changed in May 2024, so these rates may be out of date. | JN Bank's pageRead |
| JN BankResidential investment property | 10.35%May be out of date | JN's mortgage rates page has no date and was last changed in May 2024, so these rates may be out of date. | JN Bank's pageRead |
| JMMB BankMortgage | Not published | Up to 95% financed. For employed borrowers the loan is set to end at age 65.JMMB publishes no loan rates. Its rates sheet covers deposits only. | JMMB Bank's pageRead |
| First Global BankMortgage | Not published | Up to 97% financed, up to 30 years. Up to J$25 million, over 30 years or until retirement.The page gives terms but no rate. | |
| Sagicor BankMortgage | Not verifiedNot confirmed | Sagicor's website blocked our checks. These terms come from search engine summaries of its pages, so confirm them with Sagicor. | |
| VM Building SocietyMortgage | 10.45% to 11.50%May be out of date | Up to 97% financed. First Time Home Buyer mortgage 10.75%. No maximum term is published.VM's rate table says it took effect on 3 July 2023 and has not been updated since. The same page has a second table with no label showing 8.50% mortgages, which we do not use. |
NCB’s summer campaign has ended, and it publishes no other mortgage rate. JMMB and First Global Bank publish terms but no rate. Sagicor Bank’s site blocked our checks, so we can’t say what it publishes. JN Bank’s and VM Building Society’s tables are old, which the tags above show.
Credit unions
| Lender | Rate a year | Conditions | Source |
|---|---|---|---|
| C&WJ Co-operative Credit UnionMortgage | From 8.49%Lender's pages differ | Up to 90% financed, up to 20 years.C&WJ's standard mortgage page says up to 90% over 20 years. Its promotion, running until 30 November 2026, offers up to 95% (including your NHT benefit) over up to 40 years at the same rate. | |
| C&WJ Co-operative Credit UnionMortgage loan promotion | 8.49% | Up to 95% financed, up to 40 years. 95% includes your NHT benefit. The promotion runs from 1 March to 30 November 2026. | |
| First Heritage Co-operative Credit UnionMortgage | Not published | up to 25 years. Up to 300 months, or until retirement.The page gives terms but no rate. |
C&WJ’s standard page and its promotion give different terms at the same rate, so read both before you rely on either. COK Sodality merged into C&WJ on 1 December 2024. We list the credit unions whose mortgage pages we read. Others may publish no rate.
US dollar mortgages
| Lender | Rate a year | Conditions | Source |
|---|---|---|---|
| JN BankUS$ mortgage | 6.00%May be out of date | Up to 70% financed, up to 15 years. Up to US$500,000.JN's mortgage rates page has no date and was last changed in May 2024, so these rates may be out of date. | JN Bank's pageRead |
The Bank of Jamaica’s average rate on foreign currency mortgages at commercial banks was 6.91%Source: Bank of Jamaica: commercial banks' foreign currency loan rates, table IR.CB.03 in July 2026. BOJ publishes it each month.
Where the average sits
The Bank of Jamaica publishes the average J$ mortgage rate at commercial banks each month. For July 2026 it was 7.6%Source: Bank of Jamaica: commercial banks' interest rates, table IR.CB.02 (J$ loan rates). That is a weighted average of what banks charged, so it is a benchmark. No lender is offering it. It sits below every bank and credit union rate in the tables.
- Average J$ mortgage rate, July 2026Commercial banks, weighted by loan size7.6%
- BOJ policy rateFrom 29 September 2026, up from 5.5%6%
- NHT's ratesBy weekly pay, for the part NHT lends0% to 5%
No bank publishes a prime or base rate Not publishedSource: Bank of Jamaica: commercial banks' interest rates, table IR.CB.02 (J$ loan rates), so there is no published formula that turns the policy rate into your mortgage rate. Each lender decides.
What a rate means in J$
On a J$10,000,000 loan over 30 years, the gap between rates becomes real money. This is an example loan.
| Rate | Monthly payment | Interest over 30 years |
|---|---|---|
| The Bank of Jamaica average, 7.60% | J$70,607.47 | J$15,418,689.20 |
| Scotiabank, low end, 8.50% | J$76,891.35 | J$17,680,886 |
| Scotiabank, high end, 12.49% | J$106,648.19 | J$28,393,348.40 |
Put in your own price, deposit and rate in the mortgage calculator, or work out what NHT would lend you first with the NHT mortgage calculator. The rate you are quoted is the one that counts.
We read each lender’s own page and write down the day. A rate marked as old may have changed, and a lender can change a rate without telling anyone. Our editorial policy says how we check, and sources lists the pages we read.
Questions
What is the mortgage interest rate in Jamaica?
Commercial banks charged 7.6% on average on J$ mortgages in July 2026, according to the Bank of Jamaica. Lenders set their own rates, and the table above shows the ones that publish theirs. NHT charges between 0% and 5%, depending on your weekly pay.
Which bank has the lowest mortgage rate in Jamaica?
Of the banks that publish a current rate, the lowest we found is 8.50% at Scotiabank. It is a lowest published rate and carries no recommendation. Several banks publish no mortgage rate at all, the rate you are offered depends on you, and the cheapest published rate may come with conditions.
What is NCB's mortgage rate?
NCB's summer mortgage campaign offered a rate from 8.45%. The campaign ran from 1 July to 30 September 2026. NCB's mortgage page still shows 8.45%, but the offer has ended. Outside the campaign NCB publishes no mortgage rate, so ask the bank for a quote.
Does the Bank of Jamaica policy rate set mortgage rates?
Not directly. BOJ raised its policy rate to 6% on 29 September 2026, from 5.5%. BOJ describes the policy rate as feeding through to market rates, but we found no formula tying it to any lender's mortgage rate, and no bank publishes a prime rate. Each lender sets its own.
Is an NHT loan cheaper than a bank mortgage?
NHT's published rates, 0% to 5%, are below every bank rate in the table. NHT only lends up to its limits and sets the rate from your pay, so the two often work together. Our NHT mortgage calculator shows what NHT would lend you and what a bank would have to cover.
Sources
- Bank of Jamaica: commercial banks' interest rates, table IR.CB.02 (J$ loan rates)Official source · read on
- Bank of Jamaica: commercial banks' foreign currency loan rates, table IR.CB.03Official source · read on
- Bank of Jamaica: monetary policy press release, September 2026Official source · read on
- Bank of Jamaica: monetary policy press release, February 2026Official source · read on
- NHT: loansOfficial source · read on
Every figure, with its status and any notes, is on our sources page.
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