Mortgage

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 consist of a principal payment and interest payment. Interest is calculated on the outstanding balance. While your outstanding balance reduces, your interest payment will also reduce.

Life Mortgage
During the tenor of this mortgage, you only pay interest, while you take out 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
Construct The maximum term to repay your mortgage loan is 30 years or up to the age of 62, whichever comes first. 

Expenses related to a mortgage

• Closing Fee
• Notary costs
• Transfer taxes (3% for amounts up to AWG 250,000.- 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: 

• Two salary slip copies if paid monthly or four if paid bi-weekly 
• 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. Call our Contact Center at 527 7777 for more information.

We offer service and assistance tailored to your needs. 

You can access your accounts and make transfers any time using Aruba Bank Online^® or Aruba Bank App^® 
Our service representatives are available to answer your questions.

During business hours:

Aruba Bank Contact Center: (+297) 527-7777

Customer Service 24/7:

• Text Banking
• Aruba Bank Online^®
• Aruba Bank App^®