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Get Your Dream Home Now: Your Ultimate Guide to Securing a House Loan!

To be approved for a mortgage, you will need to meet several requirements depending on the type of loan for which you are applying. You will need to provide proof of income for a minimum of 2 years that is sufficient to pay the mortgage. A mortgage or home loan is a type of loan that an individual receives from a bank or a mortgage lender. This loan enables the individual to buy a home or a property, and it is expected to be paid back within the agreed time. In most cases, the lender or mortgage bank uses the value of the property as secured collateral, which can be lifted off when you have paid off the mortgage amount plus any accrued interest. To qualify for a home loan, you will have to submit the following:

  1. A completed and signed mortgage application form from your preferred bank, along with the processing fee.
  2. Any form of identification, such as a passport, driver’s license, or national ID. Some lenders may require a passport size photograph, as well as a personal reference form and proof of attorney.
  3. Verification of your income and employment from your employer, including your last three salary slips that show all necessary deductions.
  4. An offer letter from the real estate developer, along with making a down payment of the total cost and title documents to the property. You will also have to provide copies of the site plan and approved building plans.
  5. Copies of your individual income tax returns or audited accounts for up to the last 3 years, especially if you are self-employed. Additionally, they will need your business profile and your last 6 months bank statement if you are not a client of the bank. The bank may also need a credit report from a recognized credit bureau in Ghana.

After reviewing the general requirements for applying for a mortgage, it’s time to decide which mortgage providers in Ghana are the best to get a mortgage or a home loan from.

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[…] and insurance. A mortgage lender is a financial entity or bank that provides and underwrites home loans. Mortgage lenders have their own criteria for determining a borrower’s creditworthiness and […]

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