Trinidad and Tobago 💰 TTD Last updated2026-05-28

Mortgage Calculator Trinidad and Tobago

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Quick answer (Trinidad and Tobago)

A TT$ 1,500,000 mortgage at 6.5% over a 25-year term works out to a monthly payment of about $10,128, with total interest of $1,538,432 over the full term.

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Mortgage Calculator

USD

Home Value

LTV 80% · No PMI ✓

Loan Amount

Interest Rate

Term

Total Monthly

$12,628

PITI

Principal + Interest

$10,128

51% goes to interest

Total Interest

$1,538,432

over 25 years

Monthly Breakdown

Principal & Interest$10,128

Property Tax (1.1%/yr)$1,719

Homeowner's Insurance (0.5%/yr)$781

Total Monthly$12,628

Principal vs Interest Split

49% principal

51% interest

✨ Live recalculation·Includes P&I, property tax, insurance. Estimates only — consult a licensed lender for exact rates.

Reviewed by

Aisha Rahman, CFP®, MBA LinkedIn ↗

CFP® with 12+ years in mortgage & retirement planning.

Local context

Mortgages in Trinidad and Tobago

Typical loan

$1,500,000

in Trinidad and Tobago

Typical rate

6.5% p.a.

prime borrower, 2026

Typical term

25 years

most common

Market overview

Trinidad and Tobago mortgages are offered by Republic Bank (the largest), RBC Royal Bank Trinidad and Tobago, Scotiabank Trinidad and Tobago, First Citizens Bank, JMMB Bank and TT Mortgage Finance Company. The Home Mortgage Bank (HMB), set up under the Home Mortgage Bank Act, is the secondary-market refinancing institution that buys mortgages from primary lenders to deepen housing finance. The Central Bank of Trinidad and Tobago (CBTT) repo rate is 3.5% in early 2026, with commercial bank mortgage rates anchored to bank-specific reference rates plus margin. The TT dollar is managed against the USD around 6.78 TTD/USD.

Why 6.5% is the typical rate

6.5% reflects a typical TTD residential mortgage for a salaried Trinbagonian borrower at 90% LTV in early 2026, supported by HMB refinancing and abundant local-currency liquidity.

Tax & regulatory notes

Stamp duty on residential property is tiered: 0% up to TTD 850,000 for first-time owner-occupiers (raised in recent budgets), then 3%, 5% and 7.5% on higher bands. Property tax was reinstated and is being phased in based on Annual Rental Value with rates around 3% of ARV for residential. The Trinidad and Tobago Mortgage Finance Company (TTMF), owned by HMB and government, provides subsidised mortgages to lower- and middle-income earners through the Government Mortgage Subsidy programme. HDC (Housing Development Corporation) allocates state-built units.

🧮 Worked example

A TT$ 1,500,000 mortgage at 6.5% over a 25-year term

Loan amount

$1,500,000

Annual interest rate

6.5%

Term

25 years (300 months)

Monthly payment

$10,128

Total interest paid

$1,538,432

Total paid (principal + interest)

$3,038,432

❓ FAQ (Trinidad and Tobago)

Common questions in Trinidad and Tobago.

What is the Government Mortgage Subsidy and how do I qualify?

The Government Mortgage Subsidy provides interest-rate support on mortgages originated through TTMF and the Home Mortgage Bank for eligible lower- and middle-income first-time homeowners on properties up to a price ceiling. Effective rates are several points below the commercial market — historically 2-5% on the lowest tier. You apply through TTMF with income documentation, property valuation and proof of first-time-owner status.

Can CARICOM or non-resident foreigners buy property in T&T?

Non-CARICOM nationals need a licence under the Foreign Investment Act to buy more than one acre of land or any land in Tobago, but can buy residential land up to 1 acre in Trinidad without a licence. CARICOM nationals have somewhat more open access. Bank financing for non-residents is available from Republic, RBC and Scotiabank, typically in TTD at resident terms or in USD for higher-end Tobago villa purchases.

How does HMB refinancing affect mortgage tenors and rates in T&T?

The Home Mortgage Bank purchases qualifying residential mortgages from Republic, First Citizens, Scotiabank, RBC and TTMF, allowing those primary lenders to offer 25-30 year fixed and capped-floating tenors that would be harder to fund purely from deposits. Combined with the Government Mortgage Subsidy at the lower end, this is why T&T mortgage rates compare favourably with most of the Caribbean.

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