100% Land Loan? Are you looking to own land?  Is it your dream?
We at Shawn Hope Insurance Brokers can help you achieve your dream.

Frequently Asked Questions

How will I know if I am eligible to apply for a 100% Land Loan?
Once the piece of land you are purchasing costs less than $250,000 and you are a first time property owner you are eligible to apply for 100% Land Loan.

REPAYMENT PERIODS
We provide land loans for up to a maximum of 15 years.  The loan must however be repaid by the borrower’s 70th birthday.

What costs do I need to cover?
All legal fees associated with the transaction must be borne by the borrower.  You should therefore consult with your attorney about these costs.  You can however average around 3 – 5% of the loan amount.

How will you gauge my ability to pay?
A very important criterion is your debt service ratio (DSR) which should not exceed 40%.  Debt here refers to other mortgage payments, bank loans, hire purchase loans, credit card debt etc.

What security will I have to provide?
The security for the loan will be a first legal mortgage over the land being purchased.

How do I get started?
Give us a call and let us arrange an appointment to review your finances.

DOCUMENTATION REQUIRED FOR OBTAINING A LAND LOAN

1.  Recent Job letter from your employer.
2.  Two recent pay slips
3.  Letter from Vendor/Realtor of property to include: purchase price, lot number and land area.
4.  Copy of the plot plan
5.  A recent valuation of the property may be required.
6.  A recent Land Tax Bill.
7.  Statement from your bank or credit union to confirm that you have the funds to cover the cost of the legal fees.
8.  Two forms of original photo bearing ID.
9.  Proof of your address:  A recent bill that was mailed to you.

IF SELF EMPLOYED

10. Financial Statements (Profit & Loss or Income & Expense statement & Balance Sheet) for the last two years.
11. Bank Statements for the last six months.
12. Business Registration.

IF A COMPANY

1.  Articles of Incorporation
2.  Certificate of Incorporation, Registration, continuation, Association
3.  By-Laws, Constitution
4.  Board Resolution
5.  Audited Financial Statements (note that companies, registered under the Companies Act are required to file returns annually with Corporate Affairs), Income/Expense Statement.

COLLATERAL REQUIRED
First Legal Mortgage stamped to cover the amount of the loan
Guarantee from the company/directors (if necessary).

Vehicle Loans
We provide financing for new, used or reconditioned cars.  We assist you on getting finance for your dream car.
We offer car loans at flexible reducing balance rates.
100% Financing for new cars with a maximum repayment periods of 7 years.
We also provide 100% financing for second hand and reconditioned vehicles (up to 5 years old) with a maximum repayment period of 6 years.

REQUIREMENTS
You will also need to comprehensively insure your vehicle.  We provide the most competitive rates as we represent all the insurance companies.

DOCUMENTATION REQUIRED FOR OBTAINING A VEHICLE LOAN

1.  Recent Job letter from your employer
2.  Two recent pay slips
3.  Proforma Invoice
4.  A recent Valuation of the vehicle
5. Transaction statement from your bank or credit union for three (3) months transactions.
6.  Two forms of original photo bearing ID – Driver’s license is mandatory.
7.  Proof of your address:  A recent bill that was mailed to you.

IF SELF EMPLOYED

8.  Financial Statements (Profit & Loss or Income & Expense statement & Balance sheet) for the last two years.
9.  Bank Statements for the last six months
10. Business Registration.

IF A COMPANY

11. Articles of Incorporation
12. Certificate of Incorporation, Registration, Continuation, Association
13. By-Laws, Constitution
14. Board Resolution
15. Audited Financial Statements (note that companies registered under the Companies Act are required to file returns annually with Corporate Affairs), Income/Expense Statement.

What you need to know
What you need to know about Commercial Finance?

Standard Requirements

• Three years audited Financial Statements
• Most recent Management Accounts
• Two (2) pieces of valid national photo identification for signatories on loan.
• Six (6) months’ Bank Statements.

Incorporation documents as follows:

• Certificate of Registration or Incorporation Document
• Articles of Incorporation
• Notice of Address or Notice of Change of Address of the Company’s registered office
• Notice of Directors or Notice of Change of Directors
• By Laws
• List of Shareholders
• Corporation Application Form (this will be provided at the interview).

Vehicle Loan
Buying a car can be a hectic time consuming process.  Shawn Hope Insurance Brokers can guide you through the entire process until you drive away in your new or used car.  We have competitive rates, as well as a fast turnaround from the time you first contact us.  So come in today and get started on owning your own vehicle!

Additional requirements are:
New Car – Proforma Invoice
Used Car – Original Valuation from authorized dealer no older than six (6) months
Used Car – Proforma Invoice or Letter for Sale of Vehicle
Insurance Premium Quotation

Vehicles for Sale

Vehicle Deposits/Down Payments
New Cars No Deposit 7 years to repay
Used Cars No Deposit 5 years to repay

Alternative Energy Loans
Shawn Hope Insurance Brokers believe that investing in renewable energy technology is the future path we should all take.  To assist with this goal, we provide financing to pursue various types of alternative energy investments.

Additional requirements are:
Invoice from Provider

Working Capital
Shawn Hope Insurance Brokers can help you secure a working capital loan to enable your business to grow and thrive.
If you have the opportunity to build your business by investing in additional equipment, supplies, or more advance technology, it may be in your best interest to take it.  A short term loan will allow you to act quickly.  A working capital loan may also be used to pay for things like advertising costs, salaries, rent and monthly bills while you wait for the funds to come in.

Additional requirements are:
Collateral to cover loan amount

Property Equity
Put your property’s equity to use!! Your property’s equity may help you finance a large expense such as property renovations, property repairs even capital injection.

Additional requirements are:

Title Deeds
Current Water Bill
Current Land Tax Bill
House Insurance
Recent Valuation from one of our Approved Appraisers
Invoices/Estimates of Expense

Land Purchase Loans
Of all assets, Land is one of the safest to invest in. Whether you are a developer needing financing until the land has been developed or your company wants a safe investment for the future.  It might even be the first step to starting your own company.

Additional requirements are:
Recent Valuation from one of our Approved Appraisers
Letter of Sale
A copy of the Plot

Commercial Mortgage
Are you an established company currently renting or looking to expand operations?  Or are you looking to commence operations and want to own your property.  Shawn Hope Insurance Brokers can facilitate this.  We can provide the financing and the expertise in finding the right property through our experienced Commercial Team.

Additional requirements are:
Sale Agreement
Recent Valuation from one of our Approved Appraisers

Revolving Line of Credit
If you need quick, ongoing access to cash for unexpected business expenses or seasonal changes in inventory or receivables, then Shawn Hope Insurance Brokers may be right for you. A revolving line of credit is designed to assist companies’ short term financing requirements.

It allows your business to borrow, repay, and borrow again up to the original amount committed by Shawn Hope Insurance Brokers, through the life of the loan.  Revolving credits are repayable on an interest only basis with periodic lump sum repayments, which will in effect reduce the interest you pay.  Interest rates are usually tied to the Prime Rate.

Additional requirements are:
Invoices/Estimates of Expenses
Collateral to cover loan amount

Corporate Leases
The right equipment is essential to assure success in today’s ever-changing market.  Leasing as a source of financing offers immediate access to the equipment or vehicle your company needs for an agreed period of time at an agreed rental payment.

Some advantages of using Lease Finance include:

• No initial capital outlay hence allowing you to put your cash flow to other uses.
• Not having to tie up assets to secure a loan
• Tax advantages – lease rentals may be tax deductible, provided the equipment issued to generate assessable income.  However, you should seek your own taxation advice to confirm your position.

Vehicle Leases

Additional requirements are:
Proforma Invoice
Insurance Premium Quotation

Equipment Leases

Additional requirements are:
Original invoice

Buying a car can be a hectic time consuming process.  Shawn Hope Insurance Brokers can guide you through the entire process until you drive away in your new or used car.  We have competitive rates, as well as a fast turnaround from the time you first contact us.  So come in today and get started on owning your own vehicle!

Additional requirements are:
New Car – Proforma Invoice Used Car – Original Valuation from authorized dealer no older than six (6) months Used Car – Proforma Invoice or Letter for Sale of Vehicle Insurance Premium Quotation

Vehicles for Sale
Vehicle Deposits/Down Payments New Cars No Deposit 7 years to repay Used Cars No Deposit 5 years to repay

Alternative Energy Loans
Shawn Hope Insurance Brokers believe that investing in renewable energy technology is the future path we should all take.  To assist with this goal, we provide financing to pursue various types of alternative energy investments.

Additional requirements are: Invoice from Provider If you have the opportunity to build your business by investing in additional equipment, supplies, or more advance technology, it may be in your best interest to take it.  A short term loan will allow you to act quickly.  A working capital loan may also be used to pay for things like advertising costs, salaries, rent and monthly bills while you wait for the funds to come in.

Additional requirements are: Collateral to cover loan amount

Property Equity Put your property’s equity to use!! Your property’s equity may help you finance a large expense such as property renovations, property repairs even capital injection.

Additional requirements are: Title Deeds Current Water Bill Current Land Tax Bill House Insurance Recent Valuation from one of our Approved Appraisers Invoices/Estimates of Expense

Vehicle Leases Additional requirements are: Proforma Invoice Insurance Premium Quotation Equipment Leases Additional requirements are: Original invoice

Of all assets, Land is one of the safest to invest in. Whether you are a developer needing financing until the land has been developed or your company wants a safe investment for the future.  It might even be the first step to starting your own company.

Additional requirements are: Recent Valuation from one of our Approved Appraisers Letter of Sale A copy of the Plot Are you an established company currently renting or looking to expand operations?  Or are you looking to commence operations and want to own your property.  Shawn Hope Insurance Brokers can facilitate this.  We can provide the financing and the expertise in finding the right property through our experienced Commercial Team.

Additional requirements are: Sale Agreement Recent Valuation from one of our Approved Appraisers

Revolving Line of Credit If you need quick, ongoing access to cash for unexpected business expenses or seasonal changes in inventory or receivables, then _____________________________may be right for you. A revolving line of credit is designed to assist companies’ short term financing requirements. It allows your business to borrow, repay, and borrow again up to the original amount committed by _________________________, through the life of the loan.  Revolving credits are repayable on an interest only basis with periodic lump sum repayments, which will in effect reduce the interest you pay.  Interest rates are usually tied to the Prime Rate.

Additional requirements are: Invoices/Estimates of Expenses Collateral to cover loan amount

Corporate Leases The right equipment is essential to assure success in today’s ever-changing market.  Leasing as a source of financing offers immediate access to the equipment or vehicle your company needs for an agreed period of time at an agreed rental payment.

Some advantages of using Lease Finance include:

• No initial capital outlay hence allowing you to put your cash flow to other uses.
• Not having to tie up assets to secure a loan
• Tax advantages – lease rentals may be tax deductible, provided the equipment issued to generate assessable income.  However, you should seek your own taxation advice to confirm your position.