Requirements to Get a Mortgage in Ghana

In Ghana, when you apply for a mortgage from a financial institution, the following documents are required from you:

-A letter of employment for a minimum of two years with a salary slip or a letter from your employer stating how much money you earn and that you’re employed with them

-Identity card and drivers license

-Proof of monthly income

-Written statement of monthly expenditure

-Certificate of completion from the school you graduated from

-Letter of undertaking from your church which states that they will provide for all your needs in case anything happens to you {This is not necessary but it is highly preferred}.

The Requirements to Get a Mortgage in Ghana

In Ghana, when you apply for a mortgage from a financial institution, the following documents are required from you:

-A letter of employment for a minimum of two years with a salary slip or a letter from your employer stating how much money you earn and that you’re employed with them

-Identity card and drivers license

-Proof of monthly income

-Written statement of monthly expenditure

-Certificate of completion from the school you graduated from

-Letter of undertaking from your church which states that they will provide for all your needs in case anything happens to you {This is not necessary but it is highly preferred}.

Conclusion

The requirements for Ghanaian mortgages are different from the requirements in some other countries. The credit worthiness of a mortgage applicant is not a deciding factor in Ghana. Instead, the main factors that are looked into are the credit history and the age of the applicant.

The bank will also expect you to give up a percentage of your property to use as collateral in case you fail to make payments.

If you're looking for a mortgage in Ghana, it's best to know the requirements and how they differ from what you may be used to.