How To Buy A Mortgage House In Ghana

How To Buy A Mortgage House In Ghana

Learn How To Buy A Mortgage House In Ghana ; Mortgages are loans that are used to buy homes and other types of real estate. The property itself serves as collateral for the loan.A home mortgage is a loan given by a bank, mortgage company or other financial institution for the purchase of a residence. A home mortgage will have either a fixed or floating interest rate, and a lifespan of anywhere from three to 30 years.

General requirements to acquire a home loan or mortgage in Ghana

The specific requirements for acquiring a mortgage from mortgage providers in Ghana would differ from one mortgage bank or lender to another. However, to be eligible for a home loan or mortgage in Ghana, generally, you may need to submit:

  1. A completed and signed mortgage application form from your preferred bank and pay an amount of processing fee that will be dictated by the bank.
  2. A form of identification such as a passport, driver’s license or national ID. Most banks may require that you bring along a passport size photograph, a personal reference form and proof of attorney.
  3. You may also need to verify your income and employment from your employers. You may need to provide your last three salary slips that show all necessary deductions.
  4. Copies of your individual income tax returns or audited accounts for the last 3 years if you are self-employed. As well as your business profile and your last 6 months bank statements if you are not a client of the bank. The bank may also need a credit report from a recognized credit bureau.
  5. Some additional requirements entail submitting an offer letter from the Real Estate Developer, making a down payment of the total cost, title documents to the property, copies of the site plans, and approved building plans.

Now that we have met the general requirements of applying for a mortgage, the next dilemma would be to answer the question as to which mortgage providers in Ghana are best to acquire a mortgage or a home loan from.

Top 6 mortgage banks or mortgage providers in Ghana:

1. Stanbic Bank

Stanbic bank is one of the largest commercial banks in Ghana. The facility fee is 2% with loan repayments being between 5 to 20 years to repay. In addition, there is no limit to the amount you wish to acquire. Acquiring a home loan may depend on your income as well.

You Can Contact Us Via

Stanbic Heights
215 South Liberation Link
Airport City, Accra
+233 302 815 789
Email us

2. Absa

For more information, do contact Absa via email at or 0800 222333 (Toll Free) / +233 (30) 2429150 (charges apply)

3. Cal Bank

Aside from their other functionalities as a bank, Cal Bank also seeks to assist clients to gain access to mortgage loans to purchase a home of their choice. The Cal Bank Mortgage has been designed to meet your present home loan needs. You are to be between the ages of 21 to 55 to be eligible for a mortgage from Cal Bank. It is required that you fill the Mortgage form from Cal Bank and follow the procedures detailed out.

You can contact Cal Bank on +233 800 500 500 or email for more information.

4. Republic Bank

Republic bank aims to support both companies and individuals to acquire residential property for investment or private purposes. The maximum amount of loan a person can take depends on the client’s credit profile. You will need to make a down payment of 20% and the maximum term is 20 years. There is also a processing fee, which is 1.5% of the proposed loan if you are Ghanaian and USD250 /GBP150 if you are a non-resident Ghanaian.

Republic bank can be contacted on +233 302 429 555 / +233 302 258 106 / +233 302 242 093

5. First National Bank

You can contact First National Bank on 024 243 5052 / 024 243 5057

6. Ecobank Ghana

Ecobank has a mortgage calculator available on its website to help you know how much you can pay periodically. Acquiring a mortgage in Ghana from Ecobank is quite simple. You can walk into their office at any of their local branches and request a mortgage form. You will be guided through the process and the necessary documents to submit. Also, the Devtraco Group and Ecobank Ghana have signed a mortgage financing agreement under which Ecobank will provide exclusive financing arrangements to would-be homeowners desirous of patronizing luxury and middle-income homes from Devtraco Plus and Devtraco Limited.

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