Can I get a second loan from the NHT? That’s probably a million dollar question. (Nov-18-2009) You may have asked it yourself or you know of someone who already received an NHT loan and would really like a second loan. So, is it possible to get a second loan from the NHT? The NHT’s policy states that each contributor is entitled to ONE benefit. But in the last few years, some modifications have been made to allow contributors to get a second loan. “At the NHT, we keep our ears close to our customers. They tell us their concerns and we take those concerns to the highest level and see how best we can meet their needs,” says the Assistant General Manager, Branch Network, Mrs. Joyce Simms-Wilson. What, therefore, are the second loan options available for the NHT contributor? lA loan after 15-years:A mortgagor who received an NHT loan over 15 years ago may get another loan of up to one million dollars. You may use this loan to repair, improve or add to a house for which you are the registered owner and in which you are living.If you received an NHT loan more than 15 years ago, you may also use this loan to buy a residential property but only if you no longer own a home. This loan cannot be used to buy an NHT scheme house or lot nor can you get it if you had defaulted on your mortgage payments with the first property you owned. A loan to build: Mortgagors who have borrowed to buy land may also come back to the NHT to borrow an additional portion to construct a house on the land. The NHT lends up to $1.2 million (or $1.9 if you are applying with another person) to its contributors to buy residential land. The sum you can borrow to build will be the difference between the loan you got to buy the land, and the total loan your income can afford, up to a maximum of $3.5 million. Here’s an example: if, you can afford to borrow a full $3.5 million from the NHT, but borrowed only$800,000 to buy the land, you can get up to $2.7 million to build your house ($3,500,000 - $800,000 = $2,700,000). lA loan for a solar-water heater: The NHT will also lend you up to $250,000 to install a solar water heating system. This loan is available to all qualified contributors whether or not they have had a previous loan. The solar water heater loan may be secured by a Registered Title or by your contributions held by the NHT. You may use the loan to install the system on your own house or someone else’s house for as low a rate as 3% for five years. lA loan to add to your studio or one-bedroom unit: If you received an NHT loan to purchase a studio unit or one-bedroom, you can now get up to $1.2 million more to add to the unit or to buy out the balance of a co-applicant’s loan. In all the cases mentioned, the amount you can get to borrow still depends on whether you can afford the loan. But if you need to know if you qualify for a second loan from the NHT and how much you can afford to borrow, call any NHT office to speak with a customer service representative or 1-888-CALL-NHT (1-888-225-5648).You may also visit the NHT office nearest you. We would like to hear from you. Write to us at feedback@nht.gov.jm. You may also visit our website at: www.nht.gov.jm.