Mortgage & Loans Quick Checklist

Here is a quick checklist related to your VM Residential or Commercial Mortgage, Home Equity and/or Construction Loan application that you should be aware of. Please note this checklist is not exhaustive, as other additional information may be required.

Applicants must be at least 18 years old

  •   Mortgage Loans are given for a maximum of 35 years depending on the borrower’s age
  •   Collateral must be real estate situated in Jamaica
  •   Completed Mortgage Application Documents
  •   Valuation Report (done within the last six (6) months by a member of the Society’s panel of Valuators)
  •   Photocopy of the Certificate of Title
  •   Proof of age (valid passport or drivers licence)
  •   Proof of ability to repay:
    • Employed Individuals: income letter and last 3 months’ pay advice slips
    • Self Employed Individuals: audited Financial Statements, Bank Statements for the last 12 months, Cash Flow Statements, Income Tax Returns for last two (2) years
  •   Signed Agreement of Sale, where applicable, Quantity Surveyors Report, if the purpose of the loan is construction or home improvement. Please contact your Credit Officer prior to commissioning a valuation report.
  •   Proof of funds to complete the transaction (Closing Cost);
  •   National Housing Trust (NHT) contribution letter, if joint financing is required.

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