Helping Ourselves Gain Access to Residence
HOGAR is LICU’s Residential Mortgage Loan Program, with lowered interest rate, designed to facilitate the process of acquiring finance to construct, renovate or purchase your new home.
Hogar Loans
Purposes For This Loan
New Home Construction including purchase of land.
Home Purchase – purchasing of new or semi-new house - house must be in very good and marketable condition.
Transfer of Residential Mortgage Loan from other bank – house must be in very good and marketable condition.
Home Improvements/Repairs/Expansions of same building used as collateral – For existing Residential Loans and Purchased home only.
Requirements To Qualify
Be a Belizean or Legal Resident.
Be between the ages of 18 and 55.
Borrower must demonstrate repayment capacity.
Borrower must provide recent proof of Income & Employment.
Employed member must assigned his/her full salary or a salary deduction order to LICU.
If self-employed, borrower must provide proof of income by way of an Income Statement from a Certified Accountant along with invoices, receipts and bank statements for further proof of income and expenses.
If Self-employed members must have an excellent credit history for a minimum of two years.
Borrower must provide proof of identity and proof of address.
Benefits Of This Loan
Yearly Dividends & Rebates
FREE Loan Coverage up to $40,000.00.
FREE Life Savings Coverage on your shares up to $8,000.00.
Member’s Life Coverage from Sunrise to Sunset (Burial Grant).
Discounted building insurance.
Lower loan processing and mortgage fees.
Lower Cost for property appraisals.
24 hours ATM Services
24 hours Depository Bin Services
Repayment Calculator
Note: This is an approximate estimation and is subject to change. You will know the actual monthly repayment amount when you meet with a Credit Advisor.
Start the loan process
Some Restrictions Apply