Holy Redeemer Credit Union makes houses available Print E-mail
( 1 Vote )
Written by Administrator   
Thursday, 18 April 2019 00:00

Hundreds and hundreds of Belizeans flocked to Mile 14 1/2 on the Philip Goldson Highway on Saturday, April 11, 2019 to view their prospective homes. That is because the Holy Redeemer Credit Union (HRCU) held an Open Day at what they call the Eagle JEM Estate in the area. There, over sixty homes, both two and three bedrooms, are being built for their member holders to have a chance at owning. This is the first of its kind in Belize where a lending institution has made an affordable housing project available for their members to potentially own. Application for the homes start as soon as May and there are only a few requirements that the vetting committee will review. The main requirements are that the applicant be an active member of HRCU and that they have a good credit history with creditors, including HRCU.

Mark Menzies, Human Resources Manager at HRCU, says that the project was the brainchild of the late Jane Usher,who was a pioneer in the credit union movement in Belize. The estate was named after Miss Jane Ellen Mary (JEM) and her husband, Henry Usher, who was also called ‘Eagle’.

Currently, there are two completed homes at the estate, a two-bedroom home, which is already dressed with appliances and other amenities so that viewers could have an idea of what it could look like and a bare three-bedroom home to showcase the space. There will be an estimated 67 homes on the space already being used and additional homes as the HRCU has already acquired nearly 69 more acres for development. The infrastructure for water and electricity are already in place and the minimal cost for those have been included in the cost of the home. Also included is the first year’s home insurance, cost for the home, and cost for the 104 feet by 104 feet lot on which the homes sit.

The total cost for a two-bedroom home, lot, infrastructure, utilities, and insurance is a little over $98,000 while the same for the three-bedroom home is just over $108,000. The HRCU is boasting an affordable 4.00% financing scheme, the lowest compared to other lending institutions. A home can be owned for as little as $520 over 25 years or $800 over 15 years.

Interested persons are encouraged to visit the HRCU or contact their manager.