If you don't have the full amount to pay off a property, the most sensical financing option is a mortgage.
A. BENEFITS
Mortgage calculators provide significant benefits by offering clarity on affordability and budget, enabling informed decision-making by comparing loan terms, interest rates, and down payment impacts, and streamlining the home-buying process through better preparation and a focused search. They help potential buyers understand "what-if" scenarios, compare different loan options, and gain confidence before discussing your buying options.
Please use a mortgage calculator before you contact us or apply with us: The fixed annual rate and maximum repayment period with us are 12.00% and 30yrs, respectively. So you can play around with our calculator, using the remaining months/years till retirement at age 60, to know your likely repayment amount monthly using our pricing guide to know your boundaries.
B. KNOWN VARIABLES
Knowing our house price range, built-in direct mortgage annual rates, maximum repayment period, and down-payment (if any), it's just simple to calculate how much your monthly repayment figure is going to be, without contacting us !!
i. HOME PRICES
Range within GHs400,000 and GHs1,000,000.
ii. MORTGAGE RATES
Typically ranges within 4.00% and 12.00%.
4.00% - 7.00% for Non-Ghana Cedi Rates (4.00% - 5.00% for Healthcare workers)
7.00% - 12.00% for Ghana Cedi Rates. (7.00% - 10.00% for Healthcare workers)
iii. MORTGAGE DOWN-PAYMENT
We offer 100% mortgages, so long as you can afford to repay the slightly higher monthly repayment amount as against the case if you had any down-payment at move in time.
But it's always better if you also have some savings on the side for 5-20% down-payment at move-in time.
iv. REPAYMENT PERIOD
Maximum repayment period with us is 30yrs.
Meaning, if you're a Ghana-Resident Working Buyer, you subtract your current age from 60yrs (current pension age in Ghana), to give you your maximum repayment period.
If you live in the UK, or US/Canada, you subtract your current age from 66, or 67 or 68 (or whichever your country of abode's maximum pension age it is).
C. BEFORE YOU APPLY
Please make sure the monthly repayment amount arrived at (based on the calculator below) is below 50% of your net monthly household income.
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