iSave Mortgage

Product Overview

These are Loans offered to individuals interested in purchasing property for use as their first place of residence and have saved their deposit consistently in a VM iSave for Home Account over a minimum of 12 months.

This account provides special benefits for savers who have remained committed to saving with VMBS toward the goal of home ownership.

Product Details

Target Groups
  • Age range: 25 – 45 years
  • Gender: No restriction to gender, however emphasis is usually placed on females as the stronger influencers in the home purchase process
  • Characteristics:
    • Individual or couples pursuing the goal of home ownership
    • Entrepreneur or employed individuals
    • Individuals who have avid savers and committed to accumulating a deposit toward homeownership
    • Persons in the market for a home
  • Income level: None defined
  • Up to 97% financing on the market value of the property
  • 8.0% per annum on Jamaican Dollar Mortgages
  • 4.25 – 5 % per annum on Foreign Currency Mortgages (USD/CAD/POUNDS)
  • Loan terms up to 35 years* (consideration given to extended periods up to age 70)
  • Processing fee is applied to these loans
  • Discount on valuations
  • May include joint financing with NHT ( Processed by VMBS)
Selling Points
  • Greater financing available to support individuals beginning the journey towards home ownership
  • Lower than regular mortgage rate
  • Extended loan payment options to enable greater affordability
  • One-stop service
  • Options available in local and foreign currency
  • Fast turnaround on loan approvals
  • In-house registration makes the process faster and less expensive

iSave Mortgage

This website uses cookies to ensure you get the best experience on our website. Read More