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HOPE Barbados

A Project by the Government of Barbados

Energy efficient, hurricane resilient homes for first time home buyers

Who are we?

Home Ownership Providing Energy Inc. is 100% owned by the government. We offer attractive, open-plan, hurricane resilient homes (2 and 3 bedrooms).

We offer these homes at prices significantly below similar offers currently on the market.

Low Prices
How can we offer such low prices? Essentially, HOPE provides the land at no cost to you, the home buyer. You pay only for the house construction. HOPE arranges a 100% mortgage loan for you with a lending company to pay for the construction only. We also utilize several reputable Attorneys-at-Law at different firms to act on your behalf so that you obtain the best legal services at the lowest possible cost.
Instead of paying HOPE for the land, each owner must allow HOPE to install photo-voltaic (PV) systems on their roof rent free for 20 years.
At the end of 20 years HOPE will give you the PV system. Since these systems can last for 25 – 30 years you will receive the earnings from the electricity generated for the remaining years.
Who Qualifies?

Persons resident in Barbados:

  • who are employed
  • who earn no more than BBD $5,000 (NET) per month
    • NET pay is calculated as gross pay less statutory deductions.
  • who do not currently own a home

Applicants must meet all requirements.

One-Stop Application Process

Your entire application is done via our website and two visits to our offices, once after successful pre-qualification, and then on completion of construction to receive the keys to your new home.

We provide a hassle-free process, so there’s no need to separately schedule meetings at a lending company, insurance or an Attorney-at-Law.

We take care of those details for you and speed up the process of getting you into your new home.

Choosing the right business partners is crucial to our success and commitment to you. Here are some of the industry’s leading companies we have partnered with:

 

Our Developments

Location is key in real estate. Our mission is to develop residential communities in several different locations with good access to transportation links, commercial activities, services and recreational facilities.

Our first developments are…

Vespera Gardens, Lancaster, St. James

Pool (North), St. John

Colleton, St. Lucy  

See Master Plan
100% Financing

Depending on the amount of the loan you qualify for, you just need to choose one of our homes within that price range. The price includes all legal and valuation fees. This means you do not have to make a down-payment of your own to buy your home.

Remember that HOPE is giving you the land, so the mortgage loan doesn’t need to cover this.

(HOPE is a separate legal entity. HOPE has no influence over the outcome of your application to the lending company or insurance company.)