VMBS Products & Services
VM Saver
With the VM Saver customers can access up to $12 Million at a competitive interest rate with up to 100% financing.
PLATINUM SAVER MORTGAGE
"Platinum Savers" are customers who have saved with the Society for twelve (12) months, and have maintained in their accounts at least 10% of the mortgage loan amount they are applying for.
Instant Qualification Option
Non-VMBS savers may obtain the Platinum Saver loan rate, based on the following conditions:
- Deposit 10% of the loan required. This amount will be blocked for 12 months
- Will be required to pay a commitment fee of 1%.
GOLD SAVER MORTGAGE
A “Gold Saver” is a customer who has saved with the Society for at least six (6) months and has maintained in his/her account 5% of the loan amount required.
Instant Qualification Option
Non-savers may instantly qualify for a Gold Saver Mortgage Loan by:
- Depositing 5% of the loan required in a VMBS Master Plan Account. This will be blocked for six (6) months.
- No commitment fee
SILVER SAVER MORTGAGE
A VMBS customer who has saved with the Society for at least three (3) months and has maintained in his/her account 2.5% of the loan required is classified as a “Silver Saver”
Instant Qualification Option
Non-savers may qualify instantly by:
- Depositing 2.5% of the loan required in a VMBS Master Plan Account. This will be blocked for three (3) months.
- Commitment fee waived for Instant Qualifiers
BRONZE SAVER MORTGAGE
Bronze Savers are persons who did not previously have a VMBS account or VMBS customers who have not saved a significant portion of the loan they are seeking from the Society. They will be required to open and save up to 2.5% of the loan required for 3 months.
Bronze Savers:
- May apply for a VMBS mortgage loan
- Will be charged a higher rate of interest
- Will be required to pay a commitment fee of 1%
Rates are subject to change without notice.
* Conditions apply