Closing cost associated with getting a mortgage from these private banks is exorbitant and prohibitive. Medium income earners end up being backed into a corner where they have to go to these private institutions with nht's new policies. Mortgage related closing costs depend on the loan amount so if medium income contributors have to get all of the loan from private institutions then the closing costs are higher. If medium income contributors got their $7.5 M from nht then the burden of the mortgage related closing costs would be lessened.
That income threshold is very inconvenient especially if you only need your NHT benefits and no additional funds from the external financier . The fees and bureaucracy at the external financial partner is ridiculous. My suggestion is, regardless of your income, once you only need your NHT benefits then you access it through NHT
This govt in changed it..another change is the jamaica mortgage bank which previously could help homeowners.we demand it change back.too much corruption in the system we dont tolerate it
NHT PROGRAM is one of the best social programs ever introduced and has mellowed with age. Sad, though, that "dogs are more than bone"...in JA parlance.
Case in point as a yute i saw my family member benefitted thru nht as a contributor..portmore housing in those days the nht loans were around 3 to 3.5 mill...the units were within the loan amount offered directly through nht..after the contributor was 'qualified' based on points and other criteria etc..when nht moved the loan amount to about $5.5 mill per contributor.portmore houses and other 'nht-type'housing were about 7.5 to 8.5 mill...now at 8.5 mill loan per contributor same housing are maybe 20 mill upwards..the price of housing are no where coming down so something has to fix by nht to make that housing solution situation work
Hi! Could you share your experience please? Like, how did you find the process? The time frame it all took etc. I'm sure others persons interested in acquiring same would love to hear it too.
Oooo.... I'm so glad I discovered this page. All the questions that's been floating around in my head has been answered. Def had to share the video w/ my best friend as he's interested in the products and services the NHT provides too🤗🥳 Great job Kal!👏🏽👌🏽
Thanks for always sharing, your videos are very enlightening and commendable. My take on this is that NHT does not cater for those who earn under the minimum wage.
I don't appreciate the fact that my salary requires me to go through a bank. NHT is a mandatory deduction. What if I don't want the full amnt? And I am sure the banks interest rates are not as low as NHT's. IMO they back middle income earners into $ trap w these banks becoming a mandatory part of the process.
N HT have to build more houses that the low income person can get for houses are so expensive now .If u live abroad how u go about buying a house through NHT
Why cant NHT make houses fornthe middle-class, it seems that only the government workers benefit. There should be a percentage split so that all sectors can gain a home.
Hi Kalilah - didn't think guy said if you are doing construction or buying a home you can get your years of refund up to 2021? I am sure that is what I heard. Can you correct me please if I didn't hear correctly. NHT office personel said available contribution up 2021 is only for legal cost towards purchasing a home. I need clarity please because I would like to get my refund up to year 2021 towards my BOL CONSTRUCTION because the first loan payment is not enough to complete the first phase.
@@shanailawrence7690 well ge said the CRTD assist with legal fees towards purchasing a home as well as construction. That is what he said on this platform. When I contacted NHT, NHT HAS REFUSE TO DISBURSE CRTD TOWARDS CONSTRUCTION.
@@shanailawrence7690 I Am not buying a house however I am building so it is only fair and smart that contributors access to the same access to the CRTD. inflation is high and their 20% first loan deposit is not enough to take the work out of foundation. Building Labor cost and building materials are very costly.
Very informative What if I want to purchase just the right now and then build on it at a later date do I get assistance in the form of loans or grants from the NHT. Can you highlight how I would benefit from the NHT in this regard.
As a Jamaican living Abroad and a true capitalist. There one thing about Jamaica real estate market that is very concerning to me. Jamaica as never had a housing market crash in its history when the crash happens on these stupid $400k USD homes that people are dumb to buy for 1.2 and 1.6 million USD. I tell my parents sorry I'll go to DR, st kitt Singapore and and spend that kind of money. The Question Jamaicans should as the Government clearly when the market crashes who the hell is going to foot the bill. A 4000 square feet town house no land for 1.6 million USD?. 258.8 million Jamaican dollars a house that cost 50-60 million JAD at best to build. Let be real no real estate savvy investor or buyer is buying these. Because in America if I buy a home at that price index in 10-15 years its 5-8 million easy no one is going to give you 1 billion dollars for a 4000 square feet town house no land. And if the real estate market crashes it will carry the Jamaican economy with it. We are the pearl of the Caribbean but you people have gotten ridiculous. It is not sustainable and sooner or later you'll run out of idots to buy them. There houses with real gold in Dubai selling at those prices. Am going to wait until the market crashes 15-20 years from now if am alive sell some American assets and buy a couple of these houses for a 3rd of what people pay for them. Jamaica currcey is Jamaican dollars and it doesn't have a second yet prices are quoted in USDs . Selling something with 20-30% markup is quite fine selling something at 1000% markup like housing is calamity waiting to happen.
NHT needs to go back to what it core purpose when originally formed..limit the influence of GREEDY developers and facilitate owning a home starting from the lowest hardworking income earners. They need to do a survey too of the what percentage of working NHT contributors actually benefit from getting a home through nht..i can guarantee u its less than 50%..nht nah gwaan well over the recent years. In terms of there core original purpose.
Most ppl benefit from nht is the teacher lawyer government worker suh we lil wholesaler weh a throw nht a throw it fi government worker get the benefit
@@chaniekap5265 yes ..its the pnp govt who had vision for Jamaica brought in the nht..one of the first set of housing schemes legislated by Hon. Norman Manley was Hope pastures..it has become a slush fund or atm for the govt,the current govt manipulating and abusing it. They need to restore nht to its original purpose and make it work like it used to( build houses within the amount of the loan dem offering or up the loan amount to 'affordable' housing prices) or just Totally dismantle it and stop ' automatically' draw money from people's pay for nht.. simple it is an outrage.
@@chaniekap5265nht still needs to do a survey or better yet an entity independent of nht..i strongly believe it will surprise us..i know many people who didn't use their nht and who would have like to.the system or policy needs further adjusting towards the contributors side.
Very informative What if I want to purchase just the right now and then build on it at a later date do I get assistance in the form of loans or grants from the NHT. Can you highlight how I would benefit from the NHT in this regard.
This channel is a hidden gem
I'm telling you.
Closing cost associated with getting a mortgage from these private banks is exorbitant and prohibitive. Medium income earners end up being backed into a corner where they have to go to these private institutions with nht's new policies. Mortgage related closing costs depend on the loan amount so if medium income contributors have to get all of the loan from private institutions then the closing costs are higher. If medium income contributors got their $7.5 M from nht then the burden of the mortgage related closing costs would be lessened.
Kalilah, your channel is a breath of fresh air and very informative.
That income threshold is very inconvenient especially if you only need your NHT benefits and no additional funds from the external financier . The fees and bureaucracy at the external financial partner is ridiculous. My suggestion is, regardless of your income, once you only need your NHT benefits then you access it through NHT
Exactly
This govt in changed it..another change is the jamaica mortgage bank which previously could help homeowners.we demand it change back.too much corruption in the system we dont tolerate it
Exactly the banks are very invasive and the fees are ridiculous
Thank you so much for the updated information about the NHT process.
NHT PROGRAM is one of the best social programs ever introduced and has mellowed with age. Sad, though, that "dogs are more than bone"...in JA parlance.
Jamaica makes it hard to get a decent home. That's sad but these are some useful information
Dog more than bone, my friend.
Case in point as a yute i saw my family member benefitted thru nht as a contributor..portmore housing in those days the nht loans were around 3 to 3.5 mill...the units were within the loan amount offered directly through nht..after the contributor was 'qualified' based on points and other criteria etc..when nht moved the loan amount to about $5.5 mill per contributor.portmore houses and other 'nht-type'housing were about 7.5 to 8.5 mill...now at 8.5 mill loan per contributor same housing are maybe 20 mill upwards..the price of housing are no where coming down so something has to fix by nht to make that housing solution situation work
Yes I did receive my 5 years refund in advance when I was purchasing my home through JN in 2017.
Hi! Could you share your experience please? Like, how did you find the process? The time frame it all took etc. I'm sure others persons interested in acquiring same would love to hear it too.
Nht has come along way. I remembered when each branch was a 3 persons office. The manager, the secretary and the custodial person.
I would love to see NHT seel lots to persons who can not afford to get land on the open market and then build
Oooo.... I'm so glad I discovered this page. All the questions that's been floating around in my head has been answered. Def had to share the video w/ my best friend as he's interested in the products and services the NHT provides too🤗🥳 Great job Kal!👏🏽👌🏽
Awesome information . Greatly appreciated.
Very interesting and informative 🇯🇲 💯
Thanks for always sharing, your videos are very enlightening and commendable. My take on this is that NHT does not cater for those who earn under the minimum wage.
Sound quality is on point ❤
I don't appreciate the fact that my salary requires me to go through a bank. NHT is a mandatory deduction.
What if I don't want the full amnt?
And I am sure the banks interest rates are not as low as NHT's.
IMO they back middle income earners into $ trap w these banks becoming a mandatory part of the process.
Its unfair, the recent govt change it
THANK YOU VERY MUCH.... WHY SHOULD WE GO TONBANK WHEN WE ARE NOT BORROWING ANY MONEY FROM THE BANK, IM NOT DOING IT AND NHT IS GONNA GIVE ME MY LOAN!
Dem outta order, dem tek time do it. all nht contributors should protest.shouldn't be forced upon....its GREED driven. justice
Another great and informative video
Very Informative. Thank you so much.🙏
N HT have to build more houses that the low income person can get for houses are so expensive now .If u live abroad how u go about buying a house through NHT
They have online customer service chat, or call them. People overseas has done it before
Why cant NHT make houses fornthe middle-class, it seems that only the government workers benefit. There should be a percentage split so that all sectors can gain a home.
I have been contributing to the NHt since 2008, and I haven't received any of my returns 😕
There really isn't any help for middle-class people. We payout the most and have the least amount of benefits available
Great information thank you.
Love this! Very informative.
Quality content
The best interview I have seen
From my eyes at my knees me a contribute to NHT. And when I need there assistance all they gave me was run around
Hi Kalilah - didn't think guy said if you are doing construction or buying a home you can get your years of refund up to 2021? I am sure that is what I heard. Can you correct me please if I didn't hear correctly. NHT office personel said available contribution up 2021 is only for legal cost towards purchasing a home. I need clarity please because I would like to get my refund up to year 2021 towards my BOL CONSTRUCTION because the first loan payment is not enough to complete the first phase.
It is called a CRTD LOAN. You can contact NHT and query same for more information on the offer.
@@shanailawrence7690 well ge said the CRTD assist with legal fees towards purchasing a home as well as construction. That is what he said on this platform. When I contacted NHT, NHT HAS REFUSE TO DISBURSE CRTD TOWARDS CONSTRUCTION.
Well NHT HAS REFUSED TO DISBURSE CRTD FOR CONSTRUCTION IN A DENIAL EMAIL DESPITE NHT HAS ALL MY REFUND UP TO CURRENT AS WE SPEAK (2024)
@@shanailawrence7690 I Am not buying a house however I am building so it is only fair and smart that contributors access to the same access to the CRTD. inflation is high and their 20% first loan deposit is not enough to take the work out of foundation. Building Labor cost and building materials are very costly.
I would love some insite on the steps to get started as a employee contributor and as a self employee contributor
How much money do you get to build on your own land if you qualify for the maximum amount of money to purchase a house on the open market?
If 2 person join to buy a house can it me cancel or what reason would a loan not be approved?
What about refunds due but not collected? Can those be used towards the deposit as well?
Yes.
They give it to you as a LOAN.
Yes, it can!
But why not collect and.put it to your down-payment
There really isn't any help for middle class people. We payout the most and have the least amount of benefits available!
Very informative
What if I want to purchase just the right now and then build on it at a later date do I get assistance in the form of loans or grants from the NHT.
Can you highlight how I would benefit from the NHT in this regard.
This is a question I would ask as well
As a Jamaican living Abroad and a true capitalist. There one thing about Jamaica real estate market that is very concerning to me. Jamaica as never had a housing market crash in its history when the crash happens on these stupid $400k USD homes that people are dumb to buy for 1.2 and 1.6 million USD. I tell my parents sorry I'll go to DR, st kitt Singapore and and spend that kind of money. The Question Jamaicans should as the Government clearly when the market crashes who the hell is going to foot the bill. A 4000 square feet town house no land for 1.6 million USD?. 258.8 million Jamaican dollars a house that cost 50-60 million JAD at best to build. Let be real no real estate savvy investor or buyer is buying these. Because in America if I buy a home at that price index in 10-15 years its 5-8 million easy no one is going to give you 1 billion dollars for a 4000 square feet town house no land. And if the real estate market crashes it will carry the Jamaican economy with it. We are the pearl of the Caribbean but you people have gotten ridiculous. It is not sustainable and sooner or later you'll run out of idots to buy them. There houses with real gold in Dubai selling at those prices. Am going to wait until the market crashes 15-20 years from now if am alive sell some American assets and buy a couple of these houses for a 3rd of what people pay for them. Jamaica currcey is Jamaican dollars and it doesn't have a second yet prices are quoted in USDs . Selling something with 20-30% markup is quite fine selling something at 1000% markup like housing is calamity waiting to happen.
I think 7 years it tooo longggg for someone to receive grant to purchase piece of land or a home kmt
That is not what was said !
This man know his products 🔥🔥🔥🔥
What is disability? A person that has arthritis and not able to use the steps can access the disability loan?
Can one get the solar loan if they have a 15 plus loan
Interesting, that was hidden for real
The great Micheal Manley's vision!
NHT needs to go back to what it core purpose when originally formed..limit the influence of GREEDY developers and facilitate owning a home starting from the lowest hardworking income earners. They need to do a survey too of the what percentage of working NHT contributors actually benefit from getting a home through nht..i can guarantee u its less than 50%..nht nah gwaan well over the recent years. In terms of there core original purpose.
Most ppl benefit from nht is the teacher lawyer government worker suh we lil wholesaler weh a throw nht a throw it fi government worker get the benefit
@@chaniekap5265 yes ..its the pnp govt who had vision for Jamaica brought in the nht..one of the first set of housing schemes legislated by Hon. Norman Manley was Hope pastures..it has become a slush fund or atm for the govt,the current govt manipulating and abusing it. They need to restore nht to its original purpose and make it work like it used to( build houses within the amount of the loan dem offering or up the loan amount to 'affordable' housing prices) or just Totally dismantle it and stop ' automatically' draw money from people's pay for nht.. simple it is an outrage.
@@chaniekap5265nht still needs to do a survey or better yet an entity independent of nht..i strongly believe it will surprise us..i know many people who didn't use their nht and who would have like to.the system or policy needs further adjusting towards the contributors side.
We need affordable houses for regular working class people.
$30000 the bank going to give you the same interest as NHT?
Interesting and informative ❤❤
Portland lose out again SMH
Why 7 years in holding, thats too long and what if the contributor dies, who gets that money!????
If u live abroad and you contributes to NHT how u going about getting a house
Call them or use their online chat.
bway unnu treat portland like ishh though. We cant get ntn ova ya
Talk to Lee Chin sah
Pure eediot thing a gwaan there rich greedy, profiteering developers have invaded them
Why would you pay into something just so you can borrow money from them.. sound like a scam program to poor people.
Very informative
What if I want to purchase just the right now and then build on it at a later date do I get assistance in the form of loans or grants from the NHT.
Can you highlight how I would benefit from the NHT in this regard.
Yes, you can. I bought my land years ago through NHT and still not gone back for a loan to build.