Private sector workers looking to buy any of our homes are expected to pre-qualify by satisfying our Proof of Funds (POF) requirements. It's free. No payment required.
Types of documentation accepted:
To get pre-qualified, lenders will take a quick look at your financial picture and come up with a ballpark figure of how much you can afford to borrow....
Any of the following can be submitted:
1. Proof of employment and steady income for prospective buyers opting for our In-House Home Mortgage, Pension Mortgage (Interest-Only), Rent to Buy or any other in-house payment option. Bank statement may be requested at a later date.
2. Original bank statement in the name of the prospective homebuyer showing minimum acceptable funds in the account for at least 30 days. Full cash buyers must show the full lower band price range of the property category being viewed and/or discussed
3. Copy of money market account balance, from a licensed intermediary or financial institution
4. A Pre-approval notification from Sikamaster Loans (a sister company) is also acceptable
5. An original POF Letter delivered to us directly from any external regulated mortgage lender is acceptable as well
6. If you work for any 23 BoG-regulated universal bank, you simply just have to send us an email from your work email and you would be presumed to be qualified (soft pof).
7. If you're a qualified medical doctor working in the private sector, you may need to provide us your GMA number and indicate your place of work, to enable us pre-qualify you.
• Over the counter physical cash
• Third-party assets (liquid/illiquid)
• Just mere talk
Benefits of our POF requirement:
• It's free. The prospective homebuyer doesn't have to pay any money to us before going through the process to be cleared to view a property and/or initiate discussions.
• We are able to offer high spec properties including extras as standard, because resources are effectively and efficiently allocated to the people who qualify for it - the windfall of cheaper, quality homes.
• What's the use in talking at length, visiting our showhomes with the supposed prospective homebuyer and all that and only to be told by the prospective homebuyer that he doesn't have the money, not even the required down-payment if going for a mortgage or even just the tiny closing costs if even being offered a 100% mortgage or simply does not have the monthly income to service any home loan advanced - to complete a sale even as they are interested?
- Advice: Not many people are expected to buy a home with cash in full - if you are serious about owning a home, at least start an emergency fund/serious savings account and approach any home mortgage lender to start the process.
Note: The POF is not a requirement for you to pay any upfront fees, deposit or pay money to us, but evidence of a potential serious client and filter to avoid persons incapable of completing a transaction at the time a viewing is being requested. It is important to also note that, you are not obliged to complete a transaction with us after any schedule meeting/appointment or property viewing.
Kindly complete the form here.