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? HOPE is a commercial, stated-owned enterprise of the Government of Barbados. Our mandate is not to make a profit, but rather to provide accessible housing to lower income earners at affordable prices which are as close as possible to the actual cost of construction of your house.
The land component is subsidised by the Government of Barbados; therefore, owners must allow HOPE to install photovoltaic (PV) systems on their rooftop rent-free for 20 years. At the end of the 20 years, HOPE will give you the PV system. Since the manufacturers state that these systems can last for 25 – 30 years, so you will be entitled to 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 employed
- who earn no more than BBD $6,000 (NET) per month
- NET pay is calculated as gross pay less statutory deductions.
- who are first time home owners
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 several different locations with good access to transportation links, commercial activities, services and recreational facilities.
Our developments are...
- Concordia, St. Philip
- Fustic Gardens, St. Lucy
- Pool (North), St. John
- Vespera Gardens, St. James
FINANCING
You will need to secure funding (a mortgage) from a lending institution. HOPE partners with some of the well-known credit unions and commercial banks in Barbados. We stand ready and willing to introduce you to one of our partners if you do not have a lending institution in mind.
The options available to you for purchasing a home are contingent upon the amount of the loan you qualify for, which is influenced by your income and financial history.
Although HOPE provides assistance with the mortgage application process, HOPE has no influence over your mortgage application's outcome.