Skip to content
Get started

Mortgage calculator for Jamaica, in J$.

Choose a bank loan, an NHT loan or both, then put in the price. You get the monthly payment, the interest over the loan and the cash you need on closing day. It recalculates as you type.

By EveryDolla teamHow these pages are checked

Figures checked against official sources on .See the sources

Borrow from

Scotiabank says as little as 5% down, and JN finances up to 90%. We start at 10%, so change it to what your bank asks.

Start from a published rate

Banks set their own rates. Use the one your bank quotes you.

Customary. There is no official scale. We add GCT on top, so agree the real fee with your lawyer.

Leave it empty if you don't know it. Fees vary by lender, and valuation and survey costs are extra.

Monthly paymentBank

J$127,093.45

You borrow J$18,000,000 against a J$20,000,000 house, with J$2,000,000 down.

  • Bank loan7.60% over 30 years, J$127,093.45 a monthJ$18,000,000
  • Interest over the whole loanAdded to what you borrow, if you never pay earlyJ$27,753,645.70

Cash needed to close

J$2,793,750

This is your deposit of J$2,000,000 and the buyer’s closing costs of J$793,750. See every line in the closing cost calculator.

What to know about this estimate

  • The bank's rate, term and deposit are the ones you entered. Your bank will quote its own.
  • Your legal fees are set at 3% of the price plus GCT. That is our assumption, since no official scale exists, so agree the fee with your lawyer.
Year by year
What you pay and owe at the end of each year
YearPaidInterestPrincipalStill owed
1J$1,525,121.40J$1,362,409.72J$162,711.68J$17,837,288.32
2J$1,525,121.40J$1,349,603.65J$175,517.75J$17,661,770.57
3J$1,525,121.40J$1,335,789.72J$189,331.68J$17,472,438.89
4J$1,525,121.40J$1,320,888.56J$204,232.84J$17,268,206.05
5J$1,525,121.40J$1,304,814.61J$220,306.79J$17,047,899.26
6J$1,525,121.40J$1,287,475.57J$237,645.83J$16,810,253.43
7J$1,525,121.40J$1,268,771.90J$256,349.50J$16,553,903.93
8J$1,525,121.40J$1,248,596.13J$276,525.27J$16,277,378.66
9J$1,525,121.40J$1,226,832.49J$298,288.91J$15,979,089.75
10J$1,525,121.40J$1,203,355.96J$321,765.44J$15,657,324.31
11J$1,525,121.40J$1,178,031.71J$347,089.69J$15,310,234.62
12J$1,525,121.40J$1,150,714.35J$374,407.05J$14,935,827.57
13J$1,525,121.40J$1,121,247.03J$403,874.37J$14,531,953.20
14J$1,525,121.40J$1,089,460.48J$435,660.92J$14,096,292.28
15J$1,525,121.40J$1,055,172.23J$469,949.17J$13,626,343.11
16J$1,525,121.40J$1,018,185.32J$506,936.08J$13,119,407.03
17J$1,525,121.40J$978,287.43J$546,833.97J$12,572,573.06
18J$1,525,121.40J$935,249.37J$589,872.03J$11,982,701.03
19J$1,525,121.40J$888,824.06J$636,297.34J$11,346,403.69
20J$1,525,121.40J$838,744.92J$686,376.48J$10,660,027.21
21J$1,525,121.40J$784,724.34J$740,397.06J$9,919,630.15
22J$1,525,121.40J$726,452.09J$798,669.31J$9,120,960.84
23J$1,525,121.40J$663,593.61J$861,527.79J$8,259,433.05
24J$1,525,121.40J$595,787.89J$929,333.51J$7,330,099.54
25J$1,525,121.40J$522,645.61J$1,002,475.79J$6,327,623.75
26J$1,525,121.40J$443,746.74J$1,081,374.66J$5,246,249.09
27J$1,525,121.40J$358,638.18J$1,166,483.22J$4,079,765.87
28J$1,525,121.40J$266,831.26J$1,258,290.14J$2,821,475.73
29J$1,525,121.40J$167,798.77J$1,357,322.63J$1,464,153.10
30J$1,525,125.10J$60,972J$1,464,153.10J$0
How we worked this out
  1. DepositJ$2,000,000.0010% × J$20,000,000.00
  2. Bank loanJ$18,000,000.00J$20,000,000.00 − J$2,000,000.00
  3. Monthly paymentJ$127,093.45J$18,000,000.00 × r ÷ (1 − (1 + r)^−360), where r = 7.6% ÷ 12
  4. Total interestJ$27,753,645.70The interest in all 360 payments added up
  5. Total repaidJ$45,753,645.70J$18,000,000.00 borrowed + J$27,753,645.70 interest
  6. Cash needed to closeJ$2,793,750.00J$2,000,000.00 deposit + J$793,750.00 closing costs

Each payment uses the reducing-balance formula, payment = loan × r ÷ (1 − (1 + r)−n), with r the yearly rate ÷ 12 and n the number of months. At a 0% rate it is the loan ÷ n. Monthly and yearly pay are turned into a weekly figure (monthly × 12 ÷ 52, yearly ÷ 52) for NHT, which sets its rate on weekly pay.

Bank, NHT or both

With a bank only, you set the deposit, the rate and the term, and the bank lends the rest of the price. With NHT only, NHT sets the rate from your weekly pay, the deposit from its own rules and the most it will lend, and anything above that is yours to find. With both, NHT lends up to its limit and a bank covers the gap, so you pay two loans at two rates.

The NHT part uses the same rules as our NHT mortgage calculator, which also lists NHT’s rates and limits. For the bank part, put in the rate your bank quotes. Mortgage rates has what lenders publish and when we read it.

Cash you need to close

Closing day takes more than the deposit. The buyer also pays stamp duty on the mortgage, registration fees, the lawyer’s fees with GCT and any charge from the lender or NHT. The calculator adds all of those to your deposit. The closing cost calculator lists each line, who pays it and which figures are law, custom or our assumption.

What lenders say they finance

These are the shares of the price each lender says it will finance on a mortgage, from its own pages. The deposit is what is left. A tag means the lender’s pages are old or disagree with each other.

How much of the price each lender finances
LenderFinances up toLongest term
ScotiabankMortgage
95%30 years
NCBMortgage
90%35 years
JN BankJN Home LoanMay be out of date
90%Not published
JN BankSwitch (move your mortgage to JN)May be out of date
85%Not published
JMMB BankMortgage
95%Not published
First Global BankMortgage
97%30 years
VM Building SocietyMortgageMay be out of date
97%Not published
C&WJ Co-operative Credit UnionMortgageLender's pages differ
90%20 years
C&WJ Co-operative Credit UnionMortgage loan promotion
95%40 years

What the payment leaves out

The monthly figure is principal and interest only. Insurance, valuation and survey fees are extra, and your lender will quote them. A lender also looks at your other debts and your pay history before it agrees to any amount, so treat this as a starting point for the conversation with your bank. Nobody here, EveryDolla included, can say what a lender will approve.

The Bank of Jamaica’s average J$ mortgage rate at commercial banks was 7.6% in July 2026. NHT’s own rates run from 0% to 5%, and the calculator uses the band for your pay.

Questions

How is a mortgage payment calculated?

Each month's payment is the loan times the monthly rate, divided by one minus (one plus the monthly rate) raised to the minus number of months. The monthly rate is the yearly rate divided by 12. At 0% it is just the loan divided by the number of months. The calculator shows the sum with your numbers under "How we worked this out".

How much deposit do I need for a mortgage in Jamaica?

It depends on the lender. NHT asks 5% on an Open Market purchase, or 2% if you earn less than J$30,000 a week and the home costs J$14,000,000 or less. The banks publish their own: Scotiabank says as little as 5% down. The table above shows what each lender says it finances.

Can I use NHT and a bank together?

Yes. NHT lends up to its limit at its own rate, and a bank can lend the rest. Contributors earning more than J$30,000.99 a week apply through a partner bank or credit union. Choose "NHT and a bank" to see the payment on each part and the total.

Which mortgage rate should I put in?

The one your bank quotes you. If you don't have a quote, start from a rate a lender publishes. The Bank of Jamaica's average J$ mortgage rate at commercial banks was 7.6% in July 2026, which is a benchmark and not an offer.

How much cash do I need to close on a house?

Your deposit plus the buyer's closing costs: stamp duty, registration fees, your lawyer's fees and any lender or NHT charges. The calculator adds them for you with the legal fee we assume, and our closing cost calculator shows every line.

Sources

Every figure, with its status and any notes, is on our sources page.

See what a mortgage leaves in your month before you commit.

Your bank already sends you an alert for every purchase. Sign in and those same alerts come to EveryDolla, sorted and added up in J$, so you can see what you spend now and what room a payment would take.

Start free Free to use. No payment card.
From an NCB alert, 5:32 PM
Hi-Lo Food StoresGroceries · NCB ••4471J$8,240.50J$9,200 left this month