Cluster Housing Loan

In implementing its mission we will grant loans to qualified contributors to purchase a parcel of land, in instances where more than two persons have interest in a single parcel of land and it is large enough to be subdivided.

Cluster Housing refers to a division of a lot of land into more than two lots, on which detached dwelling units are grouped relatively close together, leaving open spaces as common areas.

The House Lot Loan is a Non-Homeowners’ Loan.  If you have previously received a loan from the NHT or are already the owner of a home you will not be eligible for the Cluster Housing Loan.

Where more than two persons have identified a suitable parcel of land that has been brought under the Registration of Titles Act and is large enough to be sub-divided into not more than nine (9) lots, we will provide a loan up to an amount that does not exceed the total sum  of the individual House Lot Loans.  For example if three (3) persons qualified for House Lot Loans of $1 Millon each, then the maximum Cluster Housing Loan that could be applied for would be $3 Million.  The Loan can be used to facilitate the acquisition and sub-division of the property, installation of infrastructure and splintering of Titles.

You must be aware of and meet the following conditions:

  • The Parish Council must indicate that it has no connections to the land being subdivided.
  • An Agreement must be signed by all purchasers indicating their understanding of the terms and conditions governing the Cluster Housing.
  • Applicants must meet the usual eligibility and affordability criteria.
  • Applciants should provide proof of technical expertise to oversee the development
  • A Certified Quantity Surveyor must provide an estimate of infrastructure cost.
  • NHT will finance the infrastructure cost not exceeding thirty percent (30%) of the House Lot Loan maximum limit.
  • The development is subject to approval by our Technical Committee.
  • Applicants must provide proof of balance to complete infrastructure work.
  • We require a Letter of Undertaking from the purchasers' Attorney indicating that he/she has applied or will apply for Splintered Titles and will forward same to the NHT as soon as they become available.

Click here to learn about our loan limits