The days of acquiring real estate primarily through inheritance and years of saving are long gone. For many people, owning a home is still one of the most important adult responsibilities.
As a result, many banks are offering new financial and product services that allow customers to acquire entirely constructed homes or, better yet, provide customers with a lump sum of funding by allowing them to maintain or purchase a property. Customers or clients who bank with financial institutions that offer loan services can choose between personal loans and mortgages based on their financial situation.
However, before finalising the transaction, it is strongly advised to seek mortgage advice.
Mortgage in Ghana has its own set of requirements, which are listed below for those looking to start the process of buying mortgage houses for sale in Ghana.
MORTGAGES REQUIREMENTS (SALARIED WORKERS)
Salary workers who want to finance a home with mortgage loans must meet the requirements listed below. The mortgage requirements of the bank’s customers or clients may differ.
- Application Form Completion by Applicant
- Proof of Income
- Income certification from the employer
- The employer agrees to route salary through the preferred bank for a mortgage loan and to notify the bank if an employee resigns or is fired.
- Proof of residency (utility bill/residence directions)
- Personal bank statement for the previous six months
- Identity verification
- One or two current passport-size photographs
- The proposed property’s site plan and land title document
- Incorporation Certificate
- Personnel in positions of power
- 3 years of audited financial and management accounts
- Cash Flow Forecasts (with assumptions and covering the borrowing period)
- Bank Other bankers’ statements
- Proof of regulatory licences, permits, and so on.
- Map with directions to the business location
