Need more answers to make a decision?

It’s important, whether buying or selling a home, to have a strong understanding of mortgages. Below are our most frequently asked questions on mortgages and some easy-to-understand information to help you.

There is no simple formula to determine the type of mortgage that is best for you. This choice depends on a number of factors, including your current financial status and how long you intend to keep your house. Ghana Home Loans can help you evaluate your choices and help you make the most appropriate decision.
The maximum term of the Loan shall be 20 years for USD loans and 10 years for GHS loans.
The minimum down payment / deposit towards the purchase of the subject property is between 20% and 25% of the property value which the borrower must provide as evidence from the vendor.
With the fixed-rate loan, the interest rate stays the same during the life of the loan but with a variable rate, the interest changes periodically, typically in relation to an index. Also, while the monthly payments you make with a fixed-rate mortgage are relatively stable, payments on a variable rate loan will very likely change. There are advantages to each type of mortgage and the best way to select a loan product is by talking to us.
Only provide the following:Other requirements if you are self-employed.
2 forms of identity (passport, license, etc.)Certificate of incorporation and certificate to commence business.
3 months’ most recent pay slips/other sources of income.3 years’ audited financial statements.
3 months’ most recent bank statementsCompany code:

  • Limited liability companies- Forms 3 & 4
  • Sole proprietors – Form A
Proof of address3 years’ company bank statement & 1 year’s personal bank statements.
(only if applicable)
Credit report (only for non-resident applicants)
Offer letter from vendor
A maximum of 5 working days subject to receipt of all documentation required.
It’s important to understand that there are many factors why a mortgage approval can be delayed.  While going through the process of getting a mortgage, it’s important to stay in constant contact with Ghana Home Loans and make sure you get any requested document to us as soon as possible. If a buyer does not cooperate with the lender in getting the required documentation in a timely manner, it may end up being the reason a closing is delayed or even worse, cancelled.
Signed Facility Letter
Signed Mortgage Agreement
Administrative Search Report
Survey Report
Valuation Report
Vendor’s Indenture
Borrower’s Life Policy
Borrower’s Property Insurance Policy
Title Registration Fees & Stamp Duty
GHL Inspection Report
Vendor’s Undertaking
Vendor’s Questionnaire
Vendor’s ID
Signed Disclaimer
You’re required to pay your Home loan every month for the entire duration of the loan
You should pay your home loan on, or before the due date each month.

Each month you should pay the full installment that is due.
You owe the money to the Lender, Ghana Home Loans
It depends on the loan agreement that you have signed.
Make an arrangement with the lender, Ghana Home Loans, as soon as possible, before you default.
Yes, you will pay a penalty interest if you miss your scheduled monthly Installment.
If you go into default Ghana Home Loans has the right to go to court to obtain a default judgment, leading to repossession of your house. It would then be sold at an auction after which Ghana Home Loans would deduct all amounts owed and legal amounts from sales proceeds. If there is any money left after all the deductions, you shall receive the balance. If not, you receive nothing back. To avoid such a situation, you can find a buyer, and arrange to sell the house before you go into default.
Yes, early mortgage repayment is allowed but the borrower must give not less than six (6) months’ notice.
Yes, you must continue paying the home loan. (You can lodge a complaint with the builder about the quality of work/house)
You are responsible. As a homeowner you should ensure that all your water, electricity and other bills are paid.
You are. As the homeowner you should ensure the property is well maintained at all times.
You can send your application letter with your current resume addressed to the HR Manager or use our online application tool in our careers section.