Mortgage

Your ideal house may become a reality. If you want to buy, build, renovate or expand your house, we are ready to assist you by giving professional and personal advice, with a mortgage especially designed for you. We can also refinance your existing mortgage. Your ideal mortgage starts here.  With a mortgage from Aruba Bank and a little creativity, you can make your ideal house a reality.

Types of mortgage loans available:

  • Annuity Mortgage
  • Linear Mortgage
  • Life Mortgage

Learn more. Download our Mortgage Booklet.

Benefits

  • Build your home
  • Monthly payment
  • Aruba Bank Online® Access

Annuity Mortgage

The annuity mortgage is the most common type of mortgage loan as it offers a fixed monthly payment amount for a fixed period of time. Monthly payments consists of a principle payment and interest payment. Interest is calculated on outstanding balance. While your outstanding balance reduces, your interest payment will also reduce.

Linear Mortgage

The linear mortgage contains a fixed and a variable component. The monthly amount on the capital is a fixed amount and the interest payment reduces as you are repaying the mortgage. 

Life Mortgage

During the tenor of this mortgage, you only pay interest, while you take out a life insurance to save for the principal. The principal will be repaid at once on the due date of the life insurance policy. The advantage of this type of facility is that you will enjoy maximum tax benefit during the complete tenor/ life of the loan.

Do you wish to upgrade your house? 

Construct your fence, expand your home, build your pool or just upgrade your home by refinancing your mortgage loan. Refinance offers the possibility to top up your mortgage loan and extend your tenor, if needed. By doing so, you are able to accomplish your dreams at a lower monthly cost. Refinance also offers the option to consolidate loans in order to reduce your monthly payment.

Term

The maximum term to repay your mortgage loan is 30 years or up to the age of 62, whichever comes first.

Expenses related to establishing a mortgage

  • Closing fee
  • Notary costs
  • Transfer taxes (3% for amounts up to AWG 250,000.00.-, for greater amounts 6% is applicable)
  • Insurance premiums

Online Access

View up-to-the-minute statements of your mortgage loan with Aruba Bank’s free 24/7 Aruba Bank Online® and the Aruba Bank App®
  • Must be above the official legal age of 21
  • Must have a stable income

Bring these documents to your appointment: 

  • Proof of source of income for the last two months (pay slips).
  • Identification document (Passport, Aruba ID, or Drivers License)
  • Appraisal Report from a recognized appraiser in Aruba (not older than 6 months since the date of creation) of the property that is being mortgaged.
  • An employer’s letter or if self employed a company registration of the Chamber of Commerce.
  • Employers’ letter should state the following: Your job title, yearly or monthly salary, date started job.
  • Your work permit (Non-Dutch Citizens)
  • Proof of residency (Censo letter or the latest WEB, Elmar or Setar bill in your name)
  • Copy of the purchase agreement (if buying a property) 
     

* Please note that specific documents and conditions are applicable to open a non-resident account. Contact our Call Center at 527 7700 for more information.

During business hours:
Aruba Bank Call Center: (+297) 527-7700

Useful Tips

Sign up for Text Banking and inquire or receive regular updates on your current balance while on the go by simply using your mobile phone

Do you have questions?

Contact our Call Center during office hours at (297)527 7700.

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