Cayman National Bank
Cayman National Bank offers competitive mortgage rates to qualifying individuals.

The General Requirements for Personal Mortgage Applications include:
Financial Statements, a Verification of Employment Letter and Net Income, two years of Tax Returns and a bureau Report in the case of Non-Residents, a photocopy of a current Work Permit, a copy of the signed Offer to Purchase indicating purchase price, closing date, and whether total costs include stamp duty, legal, application or other fees, a verification of the source of down payment and closing costs, life insurance on the life of each borrower for at least the amount of the mortgage with policy assigned to and held by CNB, Fire and Hurricane insurance if not covered under the strata/homeowner’s association, a commitment fee of 1% of the amount being borrowed required to be paid upon the acceptance of the Letter of Offer, as well as a photo identification and address confirmation that follows CNB’s parameters and specifications.
If you own your own company or a controlling interest in a company, CNB requires the company’s financial statements for the past two years. In the case of Non–Caymanian companies, CNB also requires two years tax returns for the company. For construction mortgages CNB requires the following: A contractor’s estimate, a copy of the Cayman Islands Government approved Building Permit (Red Card), and a copy of the approved house plan.
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Deposit | 5-25% of purchase price or appraised value of the property |
Rate | 1-3% above the USD or KYD Prime Rate |
Term of Loan | Up to 30 years (Term should not exceed retirement age) |
Scotiabank
Scotiabank’s Mortgage Financing is firstly conditional to the completion and submission of the Offer to Purchase.

Once your Offer is accepted, you and the vendor will prepare a Purchase Agreement outlining the following:
Price, down payment, and terms and conditions of the purchase transaction. Your solicitor should ensure that no liens exist on the property.
Normally you have 90 days from the acceptance of your Agreement to settle your mortgage arrangements.
Once these prerequisites have been fulfilled and you are ready to apply, you must include alongside your completed application:
A letter from your employer verifying your salary, allowances and length of service, a current pay slip, a certified statement of income, a copy of the last six months’ bank statements if you’re self-employed, any Existing mortgage, loans, bank and insurance statements, and the Application processing fee (if applicable), the home’s Deed of Land and Deed of Mortgage supplied by the vendor, a Bank ordered valuation report of the home, Current receipts for land rent, house rates, lease, rent, water and sewage rates, as well as Proof of Insurance.
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Deposit | 5-20% dependent on whether or not the borrower purchased mortgage insurance |
Rate | 1-2% above the USD or KYD Prime Rate |
Term of Loan | Up to 30 years (Will go beyond retirement age at their discretion) |
Bank of Butterfield
Butterfield Bank offers personalized repayment options, no prepayment penalty and flexible terms.

To apply for a Personal Mortgage you need to provide the required documentation, which, includes:
A completed loan application form, Verification of employment and salary, a letter from your employer addressed to Butterfield Bank (Cayman) Limited confirming income, position and length of service, a Bank reference letter (not required if you are already a Butterfield customer), a Purchase agreement, as well as a property valuation.
When purchasing a home and obtaining a mortgage, there are a number of costs you need to plan for, including legal fees and stamp duty. In total, these usually amount to around 10% of the mortgage amount.
In the case of a building project, you will need at least three building cost estimates. If you are self-employed, you will need financial statements for your business for the last two years.
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Deposit | 10-20% of purchase price or appraised value of the property |
Rate | Varies 1-1.5% above the USD or KYD Prime Rate |
Term of Loan | Up to 30 years (Term should not exceed retirement age) |
Royal Bank of Canada
Royal Bank of Canada offers a range of mortgage financing options to qualifying individuals.

The General Requirements to schedule an appointment to discuss Personal Mortgage Financing with an RBC specialist include:
An assignment of Life Insurance Policy for an amount not less than the mortgage amount, a full Comprehensive Insurance for the replacement cost with loss, if any, payable to RBC Royal Bank (Cayman) Limited or evidence of Strata Insurance on the property where the unit is located, a Bank Reference addressed to RBC Royal Bank confirming a relationship for at least three years, two forms of Photo ID, an Appraisal Report addressed to RBC Royal Bank, a Purchase Agreement, two Construction Estimates, a Personal Statement of Affairs, a Confirmation of Employment stating your annual bonus if applicable, a proof of permanent address not older than one year, and proof of current income.
If you are self-employed, RBC requires Two valid forms of Photo ID (Passport, Driver’s License or Voter’s Registration), Company Financial Statements for the last three years along with supporting Bank Statements, a Cash Flow Projection for the next twelve months, and if applicable, name changes evidenced by Marriage License, Affidavits, Deed Poll, etc.
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Deposit | 20-30% of purchase price or appraised value of the property |
Rate | 1-2% above the USD or KYD Prime Rate |
Term of Loan | Up to 30 years (Term should not exceed retirement age) |
CIBC FirstCaribbean International Bank
CIBC FirstCaribbean offers personalized repayment options with attractive repayment terms.

To apply for a Personal Mortgage you need to provide the required documentation, which, includes:
Two forms of Photo ID, proof of residence, a letter from your Employer verifying your salary, allowances and length of service, a current pay slip, certified Bank Statements, a Bank Reference letter certifying relationship, an Offer to Purchase, and property appraisal.
If you are planning on constructing in your recently acquired property, then you must provide a construction estimate and approved construction plans. The estimate should show a breakdown of the stages of the construction and costs.
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Deposit | 5-20% dependent on whether or not the borrower purchased mortgage insurance |
Rate | 1-2% above the USD or KYD Prime Rate |
Term of Loan | Up to 30 years (Term should not exceed retirement age) |
Fidelity Bank (Cayman) Ltd.
Fidelity Bank offers financing for single family homes with highly competitive interest rates

To apply for a Personal Mortgage you need to provide the required documentation, which, includes:
An assignment of Mortgage Indemnity Insurance for an amount not less than the mortgage amount, a completed loan application form, a letter from your employer verifying your salary, allowances and length of service, a current pay slip, a certified statement of income, a Bank reference letter, the Offer to Purchase, and a certified Property Valuation.
In the case of a building project, you will need at least three building cost estimates.
Check rates
Deposit | 5-20% dependent on whether or not the borrower purchased Mortgage Indemnity Insurance |
Rate | 1-2% above the USD or KYD Prime Rate |
Term of Loan | Up to 30 years (Term should not exceed retirement age) |