How Jamaicans Can Flip the Script on Homeownership with the Right Mortgage Move

For many JamaicansJamaicans are a resilient and vibrant people with a deep-rooted history defined by courage, resistance, and cultural ric..., owning a home isn’t just about shelter—it’s about legacyLegacy, in the context of Jamaica, real estate, and the broader world, represents the enduring impact of past actions, a.... And for decades, we’ve been finding strategic ways to build that legacy, even when the odds were stacked against us.

Whether it was boarding a ship to England in the 1950s, flying out to “foreign” in the 1980s, or doing back-to-back jobs in New York and Miami today—Jamaicans have a long history of going abroad, building up strategically, and returning to invest.

That mindset still matters. And if you’re renting in JamaicaJamaica, with its vibrant culture and stunning landscapes, has a unique position in the global real estate market. The i... now or living overseas dreaming of buying back home, this blog willIn Jamaica, a will is a legal document created by an individual to specify how their assets, including their belongings ... show you how to flip the script—from paying someone else’s mortgage to holding your own titleA title is a crucial document that establishes legal ownership of a property. When a buyer agrees to purchase real estat....

A Legacy of Strategy: Jamaicans Abroad and Homeownership

Back in 1948, a ship called the Empire Windrush docked in England carrying hopeful CaribbeanThe Caribbean is a vast region made up of over 700 islands, islets, reefs, and cays. Some of the most well-known islands... passengers—including many Jamaicans. They answered Britain’s post-war call for workers, leaving behind families and comfort in search of opportunity.

Though many faced racism, low wages, and poor housing, they saved, they bought propertyProperty encompasses a wide range of tangible assets that individuals or entities can own, utilize, or invest in, includ..., and—importantly—they sent money back home. That generation helped build two countries: Britain and Jamaica. Many returned home to build houses, support relatives, or retire in dignity.

The same pattern happened in the U.S. and Canada. Throughout the 70s, 80s, and 90s, Jamaicans went abroad, often working multiple jobs—nursing, constructionConstruction is the dynamic process of designing and erecting buildings and infrastructure, crucial for shaping modern l..., securityIn Jamaican real estate, security refers to assets pledged to back a loan or financial obligation. Typically, the proper..., hospitality—sending remittances, investing in landIn real estate, land is a foundational element that significantly impacts the value and potential of a property. It enco..., and gradually building homes “piece by piece.”

To this day, the JamaicanThe term "Jamaican" encompasses the citizens of Jamaica and their descendants in the Jamaican diaspora, representing a d... diasporaIn the context of Jamaica, real estate, and the broader global sphere, diaspora refers to the community of Jamaicans liv... continues to play a major role in:

• Buying and developing family land
• Sending remittances for construction
• Purchasing retirement homes
• Investing in AirbnbAirbnb is a website where people can rent out their homes or rooms to travelers who need a place to stay for a short tim... rentals and long-term property

We’ve been turning migration into ownership for generations. Now it’s your turn.

So, What About FHA Loans? Can They Be Used in Jamaica?

Let’s bust this myth: FHA loans are only for properties within the United States. They’re government-backed mortgagesMortgages represent a financial arrangement where a borrower secures a loan from a lender using real estate as collatera... designed to help people—often first-time buyers—buy U.S. real estateReal estate refers to property consisting of land and the structures on it, such as buildings and homes. It also include....

But here’s the deeper story: Many Jamaicans in the U.S. use FHA loans to get a foothold in the American property marketThe property market operates through a mix of formal and informal constraints that shape the behaviour of market players.... They then use the equityIn real estate, equity refers to the portion of a property that an owner truly "owns," as opposed to the part that is st... from that home to:

• Invest in Jamaica
• Build a family houseA house serves as a fundamental structure designed for residential living, providing shelter and a place for individuals...
• Retire or start a rental incomeIncome refers to the money or value that individuals or businesses receive, typically from various sources such as salar... stream

So, while FHA loans won’t help you buy in Jamaica, they can help you build a foundationThe foundation of a building is its underlying support system, designed to distribute the load of the structure and prov... abroad that leads to property ownershipProperty ownership means having the legal right to use, live on, or manage land or a building. In Jamaica, it’s like h... back home.

Jamaica Has Its Own Tools for Homeownership

Here’s the good news: You don’t have to live abroad to make homeownership a reality.

Jamaica has its own tools—similar in spirit to FHA loans—that are designed to support working-class and middle-income buyers.

1. National Housing Trust (NHTNHT (National Housing Trust) is a Jamaican government agency dedicated to enhancing housing accessibility and affordabil...)

• Low interest (as low as 0% based on income)
• Ideal for first-time buyers
• Options to buy, build, improve, or team up with others
• Diaspora contributors can also access benefits after 12 months of contributions

Many Jamaicans abroad are now contributing voluntarily to the NHT in preparation to return and build.

2. Building Societies & Banks

Institutions like JN Bank, VMBS, FirstCaribbean, and Sagicor offer:

• Mortgages in JMD or USD
• Loans for construction, purchase, or improvement
• Flexible joint mortgage options
• Use of foreign income and guarantors

Many have diaspora-specific products that allow you to apply while living overseas.

3. Stage Payment Plans from Developers

If you’re working on your credit or waiting on funds, some developers now allow:

• 10–15% depositA deposit is a sum of money paid in advance to secure a commitment or agreement in a transaction, such as purchasing pro...
• Monthly or stage payments while construction is ongoing
• Final mortgage drawdown on completion

This gives you time to get your paperwork and finances lined up.

Renting Now? Owning Soon.

You might be renting today, but that doesn’t mean you can’t be planningPlanning in Jamaica involves managing land, resources, and infrastructure to support economic growth, social development... for tomorrow.

Many who own homes in Jamaica now—including returning residents—started by:

• Saving small but steadily
• Registering with NHT early
• Buying land first, then building later
• Teaming up with a partner or family member

This is the real-life Jamaican way: strategy, sacrifice, and slow build.

“When miMi in Jamaican Patois translates to "I" or "me" and is widely used to express personal identity, possession, or responsi... madda lef Jamaica innaInna is a Jamaican Patois word meaning "in" or "inside," often used to describe placement, position, or involvement with... di"Di" is one of the most frequently used words in Jamaican Patois, serving as a definite article similar to the English w... 70s, she never have nutten. But she sent home every dollar she could, and now we own the family yardIn Jamaican Patois, the term "yard" carries a special significance beyond its literal meaning of a plot of land. Traditi.... That spirit of investment—build abroad and return to build up yard—still strong today.”

“We don’t need to wait on big inheritanceInheritance is the process by which property, money, or other valuable assets are passed down from one person to another... or trust funds. What we need is strategy, communityIn Jamaica, "community" refers to more than just a geographic area; it embodies a collective identity rooted in shared e..., and the right mortgage advice.” Dean JonesDean Jones is a chartered builder, project manager, licensed real estate professional and the founder of Jamaica Homes, ..., Founder of Jamaica HomesJamaica Homes is a premier real estate company offering a comprehensive platform for buying, selling, and renting proper...

Why Choosing the Right Loan Matters

Let’s look at a basic example:

That’s a difference of over $9 million over the life of your mortgage.

Whether You’re Abroad or A Yard: Here’s the Blueprint

If You’re Abroad (UK, US, Canada):

• Start NHT voluntary contributions (just 1 year required for access)
• Get prequalified through a Jamaican bank
• Use your foreign income to strengthen your mortgage applicationThe mortgage application process involves a series of steps that individuals or entities follow to secure a loan for pur...
• Explore remittance-to-mortgage services
• Consider buying land first, then building later

If You’re in Jamaica:

• Team up with a spouse or sibling for joint mortgage
• Explore NHT’s construction loanA construction loan in Jamaican real estate is a short-term, interim financing option used to fund the building or renov... if you own land
• Build credit by keeping debts low and paying bills on time
• Talk to a mortgage brokerA mortgage broker in Jamaican real estate is a licensed professional who serves as an intermediary between borrowers and... or advisor—not just your bank

Your Story, Your Land

Jamaicans have been turning struggle into strategy for generations. From Windrush to Washington DC, from ClarendonClarendon is a parish situated in central Jamaica, known for its diverse landscape that includes fertile plains and roll... to Queens, we’ve learned to:

Go abroad. Build up. Return home. Invest.

It’s your time now.

Whether you’re in KingstonKingston, the capital city of Jamaica, embodies a dynamic fusion of historical depth and contemporary vitality. Establis... renting a flat, in New York working doubles, or in MandevilleMandeville, the capital of Manchester parish in Jamaica, is the largest town in the region. As of 2005, it had a populat... helping your parents finish the family house—you can build your pathA path, in the context of Jamaica and real estate globally, refers to a route or passage that provides access from one p... to homeownership.

And when you do, you’re not just buying a house. You’re continuing a legacy.

“You don’t have to come from wealth to build it. All you need is a key—and the courage to turn it.”
— Dean Jones, Jamaica Homes