Loan Programs
Our USVI Mortgage Products
Buying a home in the Virgin Islands requires a lender who understands the territory. Whether you are purchasing a primary residence in St. Thomas or a second home in St. Croix, Virgin Bay Mortgage offers the local underwriting expertise to get you to the closing table on time.
Conventional Mortgages
Ideal for primary residences, second homes, and investment properties with strong income and more flexible underwriting guidelines.
- Fixed Rate Mortgages: We offer 10, 15, 20, and 30-year fixed-rate mortgages for single-family homes, 2-4 unit multi-family properties, and warrantable condos.
- Unlike the mainland US, standard Private Mortgage Insurance (PMI) is largely unavailable in the territory. Therefore, USVI conventional loans typically require a 20% down payment.
Government-Backed Loans
Government-backed loans are excellent tools for primary homeowners, first-time home buyers, Veterans, and rural property buyers who want or need a lower down payment option. Because these loans have strict property requirements, you need local expertise like Virgin Bay to navigate the nuances of using these government programs for unique island properties that require local home inspections, pest inspections, and certain safety and structural requirements.
Down Payment Assistance Loans – VI Slice
Are you a moderate-income Virgin Islander? The VI Slice program provides gap financing that turns into a forgivable grant after 10 years of primary residency, helping you overcome the 20% down payment hurdle.
Non-Conventional Mortgages – The FLEX Program™
Standard mainland banks force you into rigid boxes based on W-2s and tax returns. We created the FLEX Program exactly for that - to address the unique and real needs for Virgin Island financing. Our proprietary FLEX portfolio loans offer common-sense underwriting for investors, entrepreneurs, and luxury buyers—including the ability to close your property in an LLC.
DSCR Loans
Great for Short-Term Rentals and Real Estate Investors
Buying a short-term rental or Airbnb in the USVI? We qualify the mortgage based on the property's projected rental income, not your personal debt-to-income ratio. Ideal for single-family homes, non-conforming properties, and condo-tels.
Explore DSCR LoansBank Statement Loans
Great for Self-Employed Borrowers
Heavy tax deductions shouldn't stop you from buying a home in the Virgin Islands. We verify your income using 12 to 24 months of bank statements instead of tax returns, giving you the maximum purchasing power possible.
Explore Bank Statement LoansAsset Depletion
For Retirees or Those Who Want to Maintain Their Asset Holdings
For retirees, trust beneficiaries, or luxury buyers purchasing properties up to $2M. We can calculate a qualifying income stream directly from your liquid assets (cash, stocks, retirement accounts) so you don't have to liquidate your portfolio to buy your island home.
Explore Asset Depletion LoansJumbo Loans
For High-Value Island Properties
The US Virgin Islands are some of the most beautiful islands in the world and with that comes a price tag. Some properties on-island easily exceed the conforming loan limits from Fannie Mae or Freddie Mac. As part of the FLEX Program™ we offer loans that go up to $2M requiring only 30% down.
Explore Jumbo LoansCommercial Real Estate Loans
For Growing Portfolios
Expanding your portfolio? We offer commercial financing up to $2M for retail, office spaces, and 5+ unit multi-family apartment buildings across the territory.
Explore Commercial LoansLLC Closings
Close Directly in Your Entity
One of the major advantages of the FLEX Program™ is the ability to close in an LLC. Oftentimes borrowers close in their name to use conventional financing only to then put their investment in an LLC. This could trigger stamp tax twice on your purchase, so it may be more cost effective to close directly into an LLC.
Explore LLC ClosingsCondo-Tels & Non-Warrantable Condos
For Resort-Style Condos
Specialized FLEX portfolio lending designed to finance USVI condo-tels and non-warrantable condominiums that traditional mainland banks treat as commercial properties.
Explore Condo-Tel Financing
Not Sure Which Loan Fits?
Our local loan officers will walk you through every option and help you find the right financing for your island home.
1-340-714-0033
contact@virginbay.com
A2-7, Red Hook Quarters, 6100, No. 2 Suite, St. Thomas, 00802
Mon-Fri: 9:00AM - 5:00PM
Sat: By Appointment
Sun: Closed
1-340-714-0033
Mon-Fri: 9:00AM - 5:00PM
Sat: By Appointment
Sun: Closed
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Loan Programs
Location & Hours
6100 Red Hook Quarters
Suite A2-7
St. Thomas, VI. 00802
Mon-Fri: 9:00AM - 5:00PM
Sat: By Appointment
Sun: Closed
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