In accordance with the Housing Act, all lending institutions wishing to offer housing mortgage loans with a government guarantee must be approved by the Minister responsible for Housing.  To become an approved lender, the lending institution must write to the Minister responsible for Housing requesting consideration for Approved Lender Status.  

Once approved, lenders must comply with the Regulations in the Housing Act.    Please follow the links below for additional information.

Any lending institution, Banks, Mortgage Agencies, Credit Unions, Insurance Companies, that is:

• A registered company in good standing and carrying on business in The Bahamas.
• A business related to lending Money

The Minister must also be satisfied that the institution has sufficient funds and experience based on at least 10 years of operation.

1. The lending agency must write a Letter on the agency’s letterhead to the Minister responsible for Housing requesting consideration for approved lender status.
2. The letter is reviewed and the Institution is advised of approval or denial of approved lender status in writing.   
3. In some instances, the Minister invites the agency to become an approved lender. In these cases, the agency may accept, in which case the ministry will send the institution a formal letter advising them that they have acquired approved lender status.
4. Once an approved lender letter is issued indicating that approved lender status has been acquired, an officer from the Department of Housing will schedule a meeting with the institution to inform them of the format for Government Guaranteed loans.  
5. At the meeting, the Housing Officer will also supply the Institution with all necessary forms needed to maintain compliance with the Housing Regulations.
6. Lenders with offices on family islands who may wish to become approved lenders may submit their request at any of the local Ministry of Housing offices identified below.  However, the application will be processed in New Providence.

No application form is needed for this service. Simply submit a letter on the agency’s letterhead to the Minister responsible for Housing, requesting consideration for approved lender status.

• Current national insurance certificate
• Copy of national insurance board compliance letter
• Up-to-date business license

There are no fees associated with this service.  Subject to the Housing Act, changes to the fee may be made at the discretion of The Minister of Housing.

The following locations between the hours of 9:00 am to 5:00 pm, Monday to Friday, except public holidays.

New Providence
Department of Housing
Charlotte House
Corner of Charlotte and Shirley Streets
P.O. Box N275
Nassau, New Providence
The Bahamas
Tel. (242) 302-5816 or 323-3333
Fax.(242) 328–4244

Grand Bahama
Government Office Complex
The Mall Drive
P.O. Box F43774
Freeport, Grand Bahama
The Bahamas
Tel. (242) 352-3630 / 3893
Fax.(242) 352–9244

Abaco
Officer In Charge
Department of Housing
Dove Plaza
Marsh Harbour
Abaco
The Bahamas
Tel. (242) 367-2157
Fax.(242) 367-2150