Premier of Nevis, Hon. Joseph Parry said he was pleased to see the amount of prospective homeowners that gathered to get information on how they could access up to EC $500,000 at a fixed interest rate of five percent for home construction.
“ This program will do three important things for residents of Nevis. It will allow home ownership at an affordable rate, it will bring a boost to the construction industry on the island and stimulate the economy,” said the Premier.
The program that is making home construction attainable is the SIDF subsidiary of the, Fund for the Realization of Economic Empowerment through Subsidised Housing(FREESH).
The exposition of the Homeownership fund established in partnership with the Development Bank of St. Kitts and Nevis and FINCO ran from 1pm- 6pm and allowed persons to meet with architects , housing developers, insurance representatives, loan officers and suppliers of building materials who were available to give information on the many needs of home construction.
During the exposition, persons were able to apply to the available financial institutions for a residential mortgage.
While applauding the FREESH program, the Hon. Joseph Parry proudly mentioned the Equity Assistance Fund (EAF) which would provide reasonable assistance for mortgages that qualify for funding under the program.
“ The EAF program has allocated about EC$1M to help access down payments for eligible applicants. This is yet another example of all the assistance the fund is set to do, in order to get qualified persons in their own homes,” concluded the Premier.