A PROJECT BY THE GOVERNMENT OF BARBADOS
Attractive, affordable, open-plan, hurricane resilient homes for first time buyers
WH
WE ARE?
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.
L
W 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.
WH QUALIFIES?
Citizens or Residents of Barbados:
- who are 18 years or older
- who are empolyed
- who earn no more than BBD $6,000 (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.
NE-STOP APPLICATION
PROCESS
Your entire application is done online via our website, and once completed, it’s reviewed to ensure that you satisfy our requirements. Then, as locations become available for sale, you are automatically selected for consideration, based on your sequenced application ID.
Once interest is confirmed, and you select a potential lot, your application is reviewed by a loans officer at your preferred lending institution from our list of partners. If your mortgage is approved, then, on completion of construction, you receive the keys to your new home.
We provide a hassle-free process, thus limiting the number of meetings at various lending institutions or Attorneys-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:
UR DEVELOPMENTS
Location is key in real estate. Our mission is to develop residential communities in serveral different locations with good access to transportation links, commercial activities, services and recreational facilities.
Our first developments are...
- Fustic Gardens, St. Lucy
- Pool (North), St. John
- Vespera Gardens, St. James
1% 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 the mortgage loan doesn’t need to cover the full cost of the land.
(HOPE is a separate legal entity. HOPE has no influence over the outcome of your application to the lending company or insurance company.)