The Jamaica Mortgage Bank (JMB) welcomes applications for construction financing to facilitate the development of affordable housing.  Project proposals must meet JMB housing guidelines to be eligible for consideration for project financing and the developer must:

  • be knowledgeable about the housing sector
  • have a good track record
  • be able to fund 20% of the total development cost.

In providing financing through its Primary Market Facility, the Bank takes into consideration:

  • The demand for the housing units and developed lots
  • The location of the project
  • Prospects for improving the living conditions of dwellers
  • The experience and expertise of the developers
  • Proximity of the project to public amenities, services and utilities, among other factors


To evaluate your project proposal for construction financing, the JMB will require security. The security for a loan may consist of:

  • First Mortgage on the land being developed
  • Debenture
  • Guarantee(s)
  • Life insurance
  • Contractor’s Liability Insurance

Criteria for Interim Financing

For a developer to receive interim financing from the Bank, several criteria must be met.  These include:

  • Possession of an unencumbered title to the land that is to be developed
  • Provision of evidence satisfactory to the Bank that a market exists for the units or developed lots
  • Project comprising of a minimum of ten (10) units or developed lots
  • Loan amount should not be less than $10M
  • Proof of statutory approvals and undertakings


  • Low-cost funding
  • A financial partner who understands your business
  • An institution that is flexible enough to adjust to your needs