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Quick Answer TTMB (Trinidad and Tobago Mortgage Bank) offers four main mortgage programmes in 2026: the 2% subsidised programme for low-income first-time buyers, the 5% subsidised programme for middle-income first-time buyers, the standard 6% fixed-rate mortgage open to all buyers, and the OMG programme at 4.75% to 4.95% for buyers who invest with TTMB.
The 2% programme covers households earning up to TT$14,000 per month on properties up to TT$1,000,000. The 5% programme covers households earning TT$14,001 to TT$30,000 per month on properties up to TT$1,500,000. Both subsidised rates are not fixed forever. They increase by 0.5% each year until they reach the open-market rate. The standard 6% mortgage has no income ceiling and stays fixed for the full term. TTMB charges no penalty for early repayment. No major commercial bank in Trinidad offers the same.
TTMB was formed in March 2024 when the Trinidad and Tobago Mortgage Finance Company (TTMF) and the Home Mortgage Bank (HMB) merged into a single state-backed institution. If you still see “TTMF” on a document or website, that entity is now TTMB.
Table of Contents
What mortgage programmes does TTMB offer?
TTMB has six active programmes in 2026. The right one depends on your monthly income, your buyer status, and the value of the property you want to purchase.
| Programme | Monthly Income (TTD) | Property Cap | Starting Rate | Rate Type | Down Payment |
|---|---|---|---|---|---|
| 2% Subsidised | Up to $14,000 | $1,000,000 | 2.00% | Graduated to 5% over 7 years | None (100% financing) |
| 5% Subsidised | $14,001 to $30,000 | $1,500,000 | 5.00% | Graduated to ~7% over 5 years | 5% of purchase price |
| Standard Buy A Home | No ceiling | No cap | 6.00% | Fixed for full term | 10% of purchase price |
| OMG (HMB Development) | No ceiling | No cap | 4.75% | Fixed preferential | 10% of purchase price |
| OMG (Open Market) | No ceiling | No cap | 4.95% | Preferential, annual review | 10% of purchase price |
| S/HE Programme | Variable | No cap | Reduced rate | Variable, up to 40-year term | 5% of purchase price |
Who qualifies for the 2% Mortgage Programme?
This programme is for first-time buyers only. Your combined household income (heads of household only — adult children living at home are excluded from the calculation) must not exceed TT$14,000 per month. The property value cannot go above TT$1,000,000.
TTMB finances 100% of the purchase price. You do not need a down payment.
The loan also includes a TT$20,000 appliance allowance built into the approved amount. This covers a stove, refrigerator, and washing machine so you are not forced into high-interest hire-purchase arrangements the day you move in.
One restriction applies: you cannot sell, sublet, or transfer the property for 10 years without written approval from the HDC. This prevents people from using the subsidy to flip properties.
Who qualifies for the 5% Mortgage Programme?
This programme is also for first-time buyers only. Your combined household income must fall between TT$14,001 and TT$30,000 per month. The property value cap is TT$1,500,000.
You need a 5% down payment. TTMB finances the other 95%.
The same 10-year no-sale restriction applies.
If you have previously owned a home or received a Ministry of Housing subsidy before, neither the 2% nor 5% programme is available to you.
What is the Standard “Buy A Home” mortgage?
This is TTMB’s open-market product. There is no income ceiling and no property value cap. The rate is fixed at 6.00% for the life of the loan.
You need a 10% down payment. TTMB finances up to 90% of the purchase price or appraised value, whichever is lower.
This product is open to first-time buyers and repeat buyers. There is no 10-year restriction on selling.
TTMB does not require you to take out life insurance or Mortgage Indemnity Insurance for this product. That is a meaningful cost saving. At Republic Bank and FCB, those insurance premiums can add thousands to your closing costs.
What is the OMG Programme?
OMG stands for Own, Make, Grow. It pairs your mortgage with a required investment in a TTMB mutual fund: either the Mortgage Participation Fund or the Samaan Tree Fund, which have historically returned 3.00% and 3.50% respectively.
You get a lower mortgage rate in exchange for committing to invest. The minimum investment is TT$5,000 upfront and TT$500 per month.
Two rates apply depending on what you are buying:
- 4.75% for properties inside an HMB-financed residential development
- 4.95% for any other open-market property
The rate is subject to annual review. If you stop your investment contributions, TTMB may withdraw the preferential rate.
For investment-minded buyers who can commit to the monthly contribution, this is the lowest fixed rate TTMB publicly offers.
How does the graduated rate work?
This is the most important section for anyone on the 2% or 5% programmes. Read it carefully.
Both subsidised rates go up by 0.5% every year. They do not stay at 2% or 5% for the life of the loan.
2% Programme escalation:
| Year | Rate |
|---|---|
| 1 | 2.00% |
| 2 | 2.50% |
| 3 | 3.00% |
| 4 | 3.50% |
| 5 | 4.00% |
| 6 | 4.50% |
| 7 onwards | 5.00% (ceiling for this tier) |
5% Programme escalation:
| Year | Rate |
|---|---|
| 1 | 5.00% |
| 2 | 5.50% |
| 3 | 6.00% |
| 4 | 6.50% |
| 5 onwards | ~7.00% (open-market AMC rate) |
The logic is that your income should grow as your career progresses, so you can absorb a higher payment over time.
The calculator below shows your starting monthly payment and what that payment becomes after the rate reaches its ceiling.
TTMB Mortgage Calculator
Results are estimates only. Contact TTMB at ttmortgagebank.com for an official quote.
What documents do you need for a TTMB mortgage?
Start by applying for a Pre-qualification Certificate. TTMB reviews your income and identity documents first, issues the certificate within 2 working days, and tells you exactly how much you can borrow. The certificate is valid for 6 months.
Once you have a property, you submit the full application. Here is what TTMB requires:
Identity documents:
- Two forms of government-issued ID (National ID, passport, or driver’s licence)
- Your NIS number
- Your BIR number
Financial documents:
- Salaried employees: a job letter and your most recent pay slip
- Contract workers: three years of consecutive employment contracts
- Self-employed: three years of audited financial statements and three years of bank statements
- Statements from every bank and credit union account you hold, showing average balances and any monthly loan deductions
- Most recent credit card statements
- Evidence of savings to cover your down payment and closing costs
Property documents:
- Title deed, lease, or existing mortgage deed
- Valuation report from a TTMB-approved valuer
- Up-to-date Land and Building Tax clearance receipts
- WASA clearance certificate
- A recent utility bill as proof of your current address
TTMB asks for two copies of every document.
How much does a TTMB mortgage actually cost?
Your monthly payment is not the only cost. Budget for the following:
TTMB internal fees:
- Acceptance fee: 1.00% of the loan amount, minimum TT$500
- No early repayment penalty (TTMB calls this their “Freedom to Plan” policy)
- No mandatory life insurance or Mortgage Indemnity Insurance for standard open-market loans
External closing costs (typically 7% to 10% of the purchase price):
- Legal fees: 1.0% to 2.5% of the property value, plus VAT
- Valuation fee: approximately 0.25% of the property value
- First-year property insurance premium (mandatory to protect the collateral)
First-time buyers are fully exempt from Stamp Duty on residential properties up to TT$1,500,000. On a TT$1,000,000 property, that exemption saves you approximately TT$30,000 in upfront costs. See our full stamp duty guide for Trinidad for the current rate table and calculator.
How does TTMB compare to Republic Bank, FCB, and Scotiabank?
| Feature | TTMB | Republic Bank | FCB | Scotiabank T&T |
|---|---|---|---|---|
| Rate type | Fixed or graduated | Floating (prime ~7.50%) | Floating / 6.60% promo APR | Floating (MMRR + margin) |
| Max term | 30 years (40 yrs S/HE) | To retirement age | 35 years | Standard commercial |
| Processing fee | 1.00% (min TT$500) | 1.00% (min TT$1,000) | 1.50% | Up to 1.75% |
| Early repayment penalty | None | Variable | Variable | 2 months interest or TT$500 + 1.75% |
| Max financing (LTV) | Up to 100% (2% programme) | Up to 100% | Up to 100% | Depends on collateral |
| Life insurance required | No (standard loans) | Variable | Variable | Variable |
The biggest practical difference is how rates are set. TTMB locks in a fixed rate on its open-market products. Commercial banks use floating rates tied to the Central Bank’s Mortgage Market Reference Rate (MMRR), which sat at 4.25% in March 2026. Banks add their own margin on top of that. If economic conditions force the Central Bank to raise rates, your monthly payment goes up automatically with a commercial bank mortgage. With TTMB’s fixed-rate products, your payment stays the same.
Scotiabank also charges a penalty if you settle your loan early or refinance. TTMB does not, which means you can make lump-sum payments whenever you come into extra cash.
If you already have a commercial bank mortgage and want to move it to a lower rate, read our guide to mortgage refinancing in Trinidad before you decide.
How do you apply for a TTMB mortgage?
- Go to ttmortgagebank.com or visit the Port of Spain office and apply for a Pre-qualification Certificate
- Submit your income and identity documents
- Receive your Pre-qualification Certificate within 2 working days
- Find a property within your approved budget — you have 6 months
- Engage a TTMB-approved attorney and valuer
- Submit the full mortgage application with all property documents
- Standard loans are approved within a few working days. OMG programme loans move from acceptance to approval in as few as 5 working days
The entire process can be started online. In-branch appointments are available at TTMB’s Port of Spain headquarters and regional offices across Trinidad for anyone who prefers face-to-face service.
Ready to browse properties for sale in Trinidad? Start your Pre-qualification Certificate first so you know your budget before you fall in love with a house.
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