Grenada 💰 XCD Last updated2026-05-28

Mortgage Calculator Grenada

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Quick answer (Grenada)

A mortgage of 500,000 XCD at 6.5% over 25 years works out to a monthly payment of about $3,376, with total interest of $512,811 over the full term.

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Mortgage Calculator

USD

Home Value

LTV 80% · No PMI ✓

Loan Amount

Interest Rate

Term

Total Monthly

$4,209

PITI

Principal + Interest

$3,376

51% goes to interest

Total Interest

$512,811

over 25 years

Monthly Breakdown

Principal & Interest$3,376

Property Tax (1.1%/yr)$573

Homeowner's Insurance (0.5%/yr)$260

Total Monthly$4,209

Principal vs Interest Split

49% principal

51% interest

✨ Live recalculation·Includes P&I, property tax, insurance. Estimates only — consult a licensed lender for exact rates.

Reviewed by

Aisha Rahman, CFP®, MBA LinkedIn ↗

CFP® with 12+ years in mortgage & retirement planning.

Local context

Mortgages in Grenada

Typical loan

$500,000

in Grenada

Typical rate

6.5% p.a.

prime borrower, 2026

Typical term

25 years

most common

Market overview

Grenada's mortgage market is led by RBC Royal Bank, First Caribbean International Bank (FCIB / CIBC Caribbean), Republic Bank Grenada, and Grenada Co-operative Bank, all under ECCB oversight. The East Caribbean Dollar peg at EC$ 2.70/USD provides currency stability, and Grenada's Citizenship by Investment Programme (relaunched in 2013) has become the most-sold CIP in the ECCU, driving substantial real estate transactions in Grand Anse, Lance Aux Épines, and on Carriacou. The presence of St. George's University also supports rental property demand.

Why 6.5% is the typical rate

A rate near 6.5% reflects the ECCB discount rate, USD peg-transmitted funding costs, and Grenada's relatively strong fiscal position following the 2014-17 IMF-supervised debt restructuring.

Tax & regulatory notes

Property transfers attract a 5% transfer tax (buyer) plus 1% stamp duty, with non-citizens requiring an Alien Landholding Licence at 10% of property value (or via the CIP route at USD 220,000 minimum approved investment). Mortgages are registered at the Supreme Court Registry under the Conveyancing and Law of Property Act. ECCB Banking Act 2015 caps LTV at 90% for residents and 70% for non-residents.

🧮 Worked example

A mortgage of 500,000 XCD at 6.5% over 25 years

Loan amount

$500,000

Annual interest rate

6.5%

Term

25 years (300 months)

Monthly payment

$3,376

Total interest paid

$512,811

Total paid (principal + interest)

$1,012,811

❓ FAQ (Grenada)

Common questions in Grenada.

Why is Grenada's Citizenship by Investment popular?

Grenada's CIP is one of only two ECCU programmes offering E-2 US Treaty Investor Visa eligibility (alongside no global income tax for non-residents), making it attractive to international buyers; the USD 220,000 real estate minimum can flow through RBC or Republic Bank-financed luxury developments.

Can St. George's University students get mortgages?

Generally no — students are not eligible, but parents purchasing property for student housing can finance with RBC or FCIB based on home-country income; loan-to-value is typically capped at 60-70% for non-resident parents.

What does Republic Bank require for a first-home mortgage?

Republic Bank Grenada and Grenada Co-operative Bank typically require 10-20% down for residents on first homes, debt-to-income below 40%, and proof of three months of mortgage reserves; non-residents face 30%+ down and stricter income verification.

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