Owning a home is a dream that is cherished by every one of us and your home is probably the biggest investment you will ever make. There are different ways to finance a home, globally but very few are available to most Ghanaians. By taking the time to research the basics of property financing, homeowners can save a significant amount of time, with less stress.
Read on to find out which financing option may be right for you. We offer all of the following financing options in-house. Prospective homebuyers are however, free to choose any qualified external lender of their choice. No upfront fees required with any of our in-house home financing options, but take note that this may not be the case with external lenders.
The minimum net monthly salary (or total household income including that of your spouse, children, etc) you would need to qualify for any of our in-house home financing options is just GHS2,000, which may be higher with an external lender. You can always use our online calculators to know where you stand before proceeding. Before you can reserve to buy a home with us, you need to decide the home financing option suitable for your circumstances before proceeding to satisfy our free Proof of Funds (POF) requirement.
Over Fifteen (15) Home Financing options available with us in Ghana today:
1. 100% Cash Buyer
Very few can fully satisfy this option. Our showhomes can be bought with this option only.
If your own mortgage lender can assist you to exchange and complete within 30 days, you can still be consider a cashbuyer. More learn more.
2. Conventional Home Mortgages (In-House)
We offer the lowest mortgage rates in Ghana today, 6.00-12.00% p.a. (cedi or foreign currency) and up to 30yrs repayment period -- wondering how we do it? see here.
They may be difficult for most people to qualify for this type of home loan due to their requirements for criteria such as down payment, credit score, and income, certain costs, such as private mortgage insurance. The pricing of home mortgage loans is determined by the lender in two ways, each of which determines the creditworthiness of the borrower. This is typically a repayment mortgage (where you pay both loan principal and interest). If you cannot qualify for a home mortgage with us, you'll most likely not qualify for it with traditional banks. Learn more.
3. Pension Mortgages (In-House)
This is an interest-only with a repayment vehicle in-situ. This can be used exclusively by salaried workers in the public or private sector with verifiable tier-I and tier-II, and even where applicable (tier-III) pension. The home mortgage of choice when the monthly repayment mortgage loan above is higher than 50% of the prospective borrower's monthly salary. With this, you only pay as interest on the loan every month and principal due when the borrower is 60yrs or at expiration of the mortgage loan agreement. No lender in Ghana provides this type of home loan except our in-house lender. here.
4. Family Mortgages (In-House)
This comes in handy for a household with low incomes spread across multiple members of the household, usually below GHs1,000 per month. To qualify for this home finance option, at least one member of the household should be a salaried worker (public or private) - So for example, one member can be a formal sector worker earning a monthly salary of less than GHs1,000 but other members of the household may be businessmen or businesswomen with either registered or unregistered businesses but with bank accounts. We can arrange this creative financing option for such a household and allow up to eight (8) members of the household with at least one member of the household being a salaried worker in the formal sector. Learn more.
5. Transferable / Assumable Mortgages (In-House)
6. Near Zero-rated Home Loans (In-House)
This is only available to staff of The DCANS Group Limited (TDG) and it's subsidiaries, as well as its Samaritans for Humanity Charity Volunteers. TDG Staff can see details of such a package in their onboarding e-pack or still accessible via the member area of GTB Jobs.
7. Rent to Buy, RTB (In-House)
The option to rent now and convert to full ownership over a period/later. We have a dedicated portal for this payment option via the url RentToBuyGhana.com
8. Seller Financing (In-House)
Multiple payment plans directly under us. More here.
9. Self-Financing / Installment Payments (In-House)
Staggered payments over the development of the property. More here.
10. Business Owner Home Loans (In-House)
Option for owners of registered businesses to own a home and still be able to borrow against it for their business operations. Learn more.
11. International / Forex Mortgages (In-House)
Available in US Dollar ($), British Pound (£), Euro (€). For our non-Ghana Cedi earners, we have this lending option for you. This is provided strictly by our UK-based direct lending partner. Learn more.
12. Trade-Ins (In-House)
You can either
Trade-Up
Where you buy a new home from us by offsetting part of the new home's price with your existing property to acquire a bigger or much improved one. The rest of the new home's price is paid via any of the above where applicable. More here.
-or-
Trade-Down
Where you sell a generally high-price range property (incl a prime residential/commercial property, prime land, vast suburban land, uk property or any qualified property) to us in exchange for multiple properties and/or properties and cash. More here.
13. Swap (In-House)
Similar to the Trade-in option, but slightly different.
14. DCANS Loyalty Programme, Customer Points (In-House)
Getting rewarded for something you are already doing when you decide to do it at one place gets you loyalty points aside the awesome purchases you make via our partner retail outlets.
15. BTL Mortgages
Our Buy-to-let Mortgages is uniquely structured to both serve owner-occupier and investment property needs. Learn more.
16. External Mortgages & Home Loans
Only a few traditional banks currently provide home loans to qualified high-income earners. Learn more.