Mortgage Calculator
Work out your monthly mortgage payment and the total upfront cost of buying a home in Guyana — deposit, stamp duty, attorney and registration costs — in Guyana dollars. Free, no sign-up.
Purchase Details
The New Building Society accepts around 5–10%; banks often want 10–15%. Loans below the government ceiling get a subsidised rate.
The New Building Society usually has the lowest rate, and loans below the government ceiling are subsidised lower still. Bank rates run higher.
Stamp duty on a transfer is 4% of the price. In practice it is usually split 50/50 with the vendor, so set this to about 2% — but confirm what your sale agreement says.
Attorney's fees (often 1.5–3% plus VAT), the registration of title fee, a registered valuation and a surveyor's report. Transfer tax of 2% is normally the vendor's cost.
Your Mortgage
Monthly Payment
$235,395
$28,050,000 loan · 9% · 25 years
💬 In Plain Words
To buy a home priced at $33,000,000 with a 15% deposit, you borrow $28,050,000 and pay about $235,395 a month for 25 years. Over the full term you pay $42,568,374 in interest. On the day you buy, you need $6,435,000 in cash — the deposit plus stamp duty and closing costs.
Cash Needed at Purchase
Estimate for educational purposes. Not included: mortgage indemnity insurance if your deposit is small, peril and life insurance the lender requires, and VAT on professional fees. Assumes one level-payment loan. Whether your loan qualifies for the subsidised rate depends on the government ceiling in force. Have the figures confirmed by your attorney and lender before you commit.
How the Mortgage Payment Is Worked Out
👋 Simple Explanation
A mortgage is a loan secured on the property. You put down a deposit, borrow the rest, and repay it with interest over 20 to 30 years. Early on, most of each payment is interest; later, most is principal. Paying a little extra each month, or making a lump sum when you can, cuts the total interest sharply because it shortens the term.
Payment = L × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]
Where L = loan amount, r = monthly interest rate (annual ÷ 12), and n = the number of monthly payments (term in years × 12).
Costs and Rules When Buying a Home in Guyana
The big upfront costs are the deposit (usually 10–15%), stamp duty (4% of the price, in practice often split with the vendor), attorney's fees (around 1.5–3% plus VAT), the registration of title fee, and a registered valuation. Transfer tax of 2% applies to the sale but is normally paid by the vendor. Documents must be stamped within 30 days of signing. The National Housing Trust, funded by a 2% employee and 3% employer contribution, lets contributors borrow at a below-market rate — the single biggest lever most buyers in Guyana have on the monthly payment. Add every cost up before you decide how much you need saved.
Frequently Asked Questions
- What does it cost to buy a home in Guyana besides the price?
- On top of the deposit, expect conveyance (transport) stamp duty, a registration of title fee, attorney's fees (often around 1.5–3% plus VAT), a registered valuation, and a surveyor's report if needed. On a sale the vendor also pays a transfer tax on any gain. A first-time homeowner can claim mortgage interest relief against income tax up to an annual cap. Confirm current rates with the GRA and your attorney.
- How big a deposit do I need for a mortgage in Guyana?
- The New Building Society (NBS) accepts deposits of around 5–10% of the value; commercial banks (Republic, GBTI, Demerara, Citizens) often want 10–15%, though some first-time-buyer products go lower. Your repayment usually cannot exceed a set share of your gross income.
- Is there a subsidised mortgage rate in Guyana?
- Yes. For home loans below a ceiling that the government adjusts from time to time, the New Building Society offers a reduced, subsidised interest rate that lowers the monthly payment noticeably. Loans above the ceiling are at the normal market rate. The CH&PA also allocates serviced house lots below market price to applicants on its housing register.