To be eligible for a mortgage loan at the NIS you must be:

  • An NIS contributor between the ages of 21 and 60.
  • The applicant or at least one of them must be resident citizen of Grenada.

You can get a mortgage loan for any of the following purposes:

  • Construction, home repair/re-model.
  • Purchase of property (includes land only).
  • Refinancing and debt consolidation.

Applicants for mortgages must submit the following documents:

  • Evidence of a purchase/sales agreement for the property which he/she intends to purchase with the proceeds of the loan together with a copy of the vendor’s property tax receipt and title deed; or
  • Evidence of ownership of, or title to the land on which he/she intends to build a house or carry out home improvement with the proceeds of the loan.
  • A plan approved by the Land Control Development Authority.
  • Proof of income (recent pay slip & job letter)
  • Loan statements.
  • Two forms of picture ID.
  • Statement showing the ability to make the 10% equity contribution.


Valuation of the property and estimated cost of construction or repairs, must be done by one of the following valuators approved by the NIB:

Mortgage Calculator