KINGSTON, Jamaica — The Government says it is making it easier for people to realise their dream by implementing a raft of measures to make home ownership easier and more affordable.

These measures include increasing the National Housing Trust (NHT) loan ceiling, reducing the interest rates on mortgages for lower-income groups, providing 100 per cent financing for all NHT units, improving home grants, and establishing a special grant for persons with disabilities to assist with retrofitting their houses.

Since July 1, thousands of people have been able to access more funds to purchase houses on the open market and NHT-financed scheme units, and build on own land, through an increase in the loan ceiling from $4.5 million to $5.5 million, a government statement said.

In addition, the loan limit for the 15-plus loan category has been increased to $2.5 million from $1.5 million.

This loan is for contributors who want to repair, improve or expand an existing mortgaged property or those who want to purchase or construct a residential property once the beneficiary is no longer a homeowner.

With this new policy, two qualified NHT contributors can co-apply and access up to $5 million for home improvements.

In addition, the house lot loan limit has been increased to $2.5 million from $2 million.

The NHT now offers 100 per cent mortgage financing for all housing units it produces. This means that the Trust will lend qualified contributors the full amount required to buy NHT units, providing that they can afford the monthly loan payments.