Mortgage Calculator - Property Cayman | Real Estate Experts in the Cayman Islands

Mortgage Calculator

Get a quick estimate of the new home you can afford

1. How much can I borrow?

2. How much will my monthly mortgage payment be?

Have questions?

Frequently Asked Questions


Am I eligible for a mortgage in Cayman?
Several factors influence your mortgage eligibility. Your income is the primary element. But other factors, such as existing liabilities (debt), current expenses, assetts, and the available repayment term, will impact the amount you qualify to borrow from the bank.

Term options

What are the mortgage term options in the Cayman Islands?
Assuming you are purchasing property as your primary residence, you may be able to secure up to 85-90% financing over terms of up to 25 to 30 years.

Property type & eligibility

Does the property type (first home, second home, investment property) affect your mortgage eligibility in Cayman?
Your primary residence is a lower risk mortgage in the Cayman Islands. Second homes and investment properties are deemed higher risk because you may be relying on rental income. Banks may extend lower financing levels on investment properties and second homes than they would on your primary residence. They may also charge a higher interest rate to reflect the higher risk.

First-time Caymanian buyer

Do mortgage rates in Cayman differ for first-time Caymanian buyers?
First-time Caymanian purchases typically qualify for a stamp duty reduction or exemption, reducing the amount of cash required up-front. Click here to read more about stamp duty savings for first time Caymanian buyers.

Overseas buyers rates

Do mortgage rates in Cayman differ for overseas buyers?
Yes. Overseas buyers are deemed to be higher risk by local banks. Therefore mortgage rates are approximately 5% to 6% higher for overseas buyers looking to invest in Cayman real estate.


Can I be pre-approved for a mortgage in Cayman?
Yes. It takes between 1 to 7 days, and it is advisable to do so before viewing properties.

Are there benefits to getting pre-approved for a mortgage?
Yes. It is wise to explore how much you could borrow before beginning your property search. It will help narrow your search to homes in your price range. It will allow you to confidently place an offer to purchase when you do find your new home. And being pre-approved or pre-qualified for a mortgage makes the full approval process much quicker when you find your dream home.

Mortgage types

What is a fixed mortgage?
A fixed-rate mortgage is when you negotiate a set rate of interest with your bank for a specific period.
The benefit of a fixed-rate mortgage is your interest rate won’t fluctuate. You are protected from rising variable rates and fluctuating monthly payments.

What is a variable mortgage?
A variable-rate mortgage means your interest rate fluctuates over the term of the loan. Typically a variable-rate mortgage offers greater flexibility on pre-payments without penalty. But does not protect you from monthly fluctuations.

What is the most common mortgage type in Cayman?
In the Cayman Islands, the most common type of mortgage is a variable mortgage. Most variable-rate mortgages in Cayman, are tied to the US Federal Reserve Prime Rate. When the US Federal Reserve Prime Rate increases or decreases, your interest rate will as well.

Credit score

What is a credit score?
A credit score or credit report summarises all credit facilities held by an individual, including payment history information.

Does the Cayman Islands use credit rating?
The Cayman Islands does not have a centralized credit scoring or rating system. Local banks do have the ability to share credit information, so long as the borrower consents. A bank may also ask you to provide a credit report from other applicable countries.

Stamp duty

What is stamp duty?
Stamp duty is a form of tax. It is a levy governments place on the processing of legal documents or the transfer of an asset.

Is there stamp duty on mortgages in Cayman?
Yes. Buyers often overlook stamp duty on mortgages. The Cayman Islands Government charges a 1% stamp duty on registered mortgages up to CI $300,000 and a 1.5% stamp duty on registered mortgages greater than CI $300,000. Mortgage stamp duty is a one-time tax that is part of your closing costs for a mortgage.


What are chattels?
Chattels are the furnishings (furniture or appliances) included in the sale price of a property. Think about it this way, if you were to take a property and flip it upside down, everything that falls out is considered chattel.

Do chattel affect your mortgage?
Most Cayman banks either lend on the total purchase price (which may include chattels) or the market value, whatever is the lower of the two figures. It may differ from bank to bank, so always check with your loans officer.


What does it mean to refinance your mortgage?
Refinancing your mortgage typically means borrowing more money against your property. It could also mean renegotiating your mortgage (repayment terms, interest rate, payment schedule, etc.) or moving your mortgage from one lending institution to another.

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