- Have made at least 52 weekly contributions of which 13 must have been made in the last 26 weeks just before the date of your application.
- Have paid up, with interest, any outstanding contributions due in the last 3 years. Exceptions are Voluntary Contributors or persons earning less than $7,500 per week who are only required to pay up contributions for 1 year.
- Be between the ages 18 and 65.
- Be earning an income which allows you to repay the loan.
Want to know the amount you are eligible to borrow from the Nation Housing Trust?
Click below to see the amount, based on salary, etc that you qualify for and what are the payments and length of term for your specific loan. Each loan has a different maximum amount or loan limit that can be accessed by a Contributor.
With co-applicant (s)
$4.5 Million minus previous loan
Homeowners - $1.5 Million
Non-homeowners- $4.5 Million
2013 - Residential Home Loans - 9.29% and financing - 90%
Jamaica National is offering Reverse Mortgages. A Reverse Mortgage is a special mortgage designed for persons who have retired and need an income. It is a fixed amount advanced monthly to elderly applicants for up to 5 years (renewable) using the residence as security.
The maximum loan ratio is 50% of the market value of the security; while the loan term is 1-5 years, and is renewable. Total advances plus interest is repaid at the end of the period or the loan can be re-negotiated for an extended period. Younger persons can be named as beneficiary(ies), or as guarantor(s) for repayment of loan. Contact them for details.
Fast and efficient processing time – especially for cash secured personal loans.
'One Stop Shop' for Joint Financing with an NHT loan;
Flexibility of making Lump Sum Payment to principal at any time.
Share Loans :Continue to earn interest on your savings while accessing a quick and easy loan to acquire assets or deal with a life altering event. Plus, your VM Personal Loan is processed within minutes
Purchase/Home Improvement Loans: Regardless of the size or location, home ownership stands as a symbol of personal accomplishment and independence. Let us take you home...Learn more
Home Equity Loans:Whether you want to do home repairs, wish to further your education or that of a family member or you are facing high medical expenses, let a VM Home Equity Loan unlock the value in your home and get you to your goal faster.Learn more
Commercial Loans: Entrepreneurs can also benefit from mortgage loans at competitive interest rates. If you want to purchase commercial real estate.Learn more
Click here to complete their Online contact request form and one of our Credit Officers will contact you.
Come in to any VMBS branch today and talk to a Credit Officer or request a Financial Services Specialist to visit with you to begin the process of transformation from a saver to a home owner.
The Scotia Jamaica Building Society, a subsidiary of Scotiabank, offers mortgages and ways to purchase real estate whether you're a first-time buyer or thinking of making a move to your next home. You can find a mortgage and financing solution to suit your individual needs through The Scotia Jamaica Building Society.
Review the mortgage options in the chart below and choose the one that best suits your needs and goals.
Finance up to 90% of the purchase price or valuation of the property (whichever is lower) for a maximum term of 30 years
3-Yr Fixed Term Residential Mortgage (Professionals and/or University Graduates)
Fixed rate for initial 3 years, converts to variable rate there after
Home Builder's Loan
Must be converted to Residential Mortgage after 2 years
Mortgage for Investment
On loans granted for investment purposes (residential rental properties), we finance up to 65% of the lower of the purchase price or valuation of the property being purchased for a maximum term of 30 years
Gold Key Mortgage
Up to 20 years
up to 30 years
Up to 30 years
We finance up to 80% of the lower of the purchase price or valuation of the lot for a period not exceeding 15 years
*** Information obtained from the Party's Websites. Conditions apply. All information contained herein is subject to change without notice.