Application Process

Prospective applicants are encouraged to use the mortgage calculator to determine how much they can conveniently borrow. Alternatively, applicants can call Ghana Homes Loans to establish the maximum they can borrow – this information should be used as a guide and not a firm commitment by Ghana Home Loans to lend the amount.

A firm commitment can only be provided when all the application documents have been verified and confirmed as valid. Prospective borrowers must submit the following:

 

 

  • Apply online by visiting the Apply Now link on this website or submit a completed Ghana Home Loans mortgage application form (available as a download from this website or request a copy from applications@ghanahomeloans.com);
  • First Time Buyer’s and Buy-to-Let mortgage applicants should submit a completed Purchase and Sale Agreement (or an Offer Letter) signed by both the prospective borrower and the seller of the property or estate developer and which sets out the details of the transaction. Applicants for Equity Release or Refinance (Switch) mortgages should provide a certified copy of a surveyor’s site plan and an unencumbered Title Deed with official stamps showing proof of ownership;
  • Proof of Identification – Passport or Driver's License
  • Proof of Income – Employer’s certification of income, with contact information to allow verification by Ghana Home Loans (Most recent three months’ paycheck stub /salary certificate showing all withdrawals and deductions will suffice); Self employed foreign residents may submit Tax return forms for 3 financial periods; informal sector borrowers may submit audited accounts to demonstrate their income
  • Proof of employment – Employer reference, confirming that borrower is currently in employment. Certified statement of income for self employed persons;
  • Proof of address – recent utility bills, property rates, rental agreement etc;
  • Authorization for Ghana Home Loans to obtain credit history report;
  • Copy of Title Documents and Deed of Mortgage (for property to be mortgaged);
  • A Valuation Report (professional valuation of prospective home), can be deferred until an ‘Approval in Principle’ has been granted the borrower;
  • Statement on existing mortgage loan (if any);
  • Statement of exiting life insurance policies (if any);
  • For First Time Buyer’s Loan or Buy-to-Let mortgage – a deposit of at least 25% of the value of the property. For Equity Release or Refinance mortgage, a recent valuation report from a Ghana Home Loans approved valuer will suffice;
  • Processing Fee of $200;
  • Facility Fee – 1% of the amount to be borrowed;
  • The equivalent of three monthly mortgage payments (The mortgage calculator should be used to estimate the monthly payments corresponding to the amount to be borrowed);
  • Foreign residents are advised to execute a Power of Attorney authorising an individual resident in Ghana to act on their behalf. Please note the ‘Attorney’ must be an individual over the age of 18 years and does not have to be a lawyer.