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HOME ACCOMMODATION LOAN DETAILS
Funding will be provided for renovations, refurbishment and new construction for Home Accommodation. Home Accommodation refers to: Room(s) to Let (no more than
four (4) bedrooms), Bed and Breakfast (no more than four (4) bedrooms with breakfast provided) and Family Apartment(s) (no more than nine (9) bedrooms). Please refer
to attached copy of Guidelines for Home Accommodation.
Renovation refers to structural improvements to a property.
Refurbishment refers to replacements or upgrade of furnishings and fixtures.
New Construction refers to addition of room(s) to an existing structure.
Loan range: $700.00 - $100,000.00
100% financing available
Interest rate: will not exceed 8% for the duration of the loan
Maximum repayment period: Ten (10) years
Administration fee: 1.5% of amount requested
Legal fees vary according to the amount borrowed and type of security used.
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