There are a number of different types of home loans available to you, and it can pay to familiarize yourself with them. Luckily we're here to help you choose the best type of home loan for your needs.
Get Started
Here in Cayman, Fixed Rate loans are similar to how an Adjustable ARM loan works in the USA. You will have the option to pick a fixed rate term typically between 1-5 years, after which your loan will revert to and adjustable mortgage unless you negotiate a new fixed rate with your bank.
These are tied to the US Prime Rate (currently 7.5%). They will adjust shortly after any changes to the Prime interest rate. These typically range from -1% to +2% in relation to Prime over the life of the loan.
