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Max. Rate: 12% p.a.
incl Cedi Mortgages
Repayment Period
Up to 30 years
No Upfront Fees
T&Cs Apply

All Incomes Considered

In a country with very low salary levels, multiple income streams can be handy and make the dream of home ownership a reality. The problem is that many prospective homebuyers come with the misguided hope of owning 3/4 bedroom homes at prime locations just because they earn some few thousand Ghana Cedis per month (usually even less than $1,000 equivalent), but in reality, they lack the knowledge and discipline required for really learning the art of homeownership.

For starters, our minimum qualifying salary of GHS2,000 net per month salary is not going to get you 3/4 bedrooms in a prime area.

 

Joint Application - Combined Incomes

The typical borrowing amount of mortgage loan you may qualify for would be within 5X and 8X your net annual salary. So for example, if your net monthly salary is GHS2,000 (GHS24,000), you may only qualify for GHS120,000 - GHS192,000 (5x - 8X). 

If you're married with valid marriage certificate to show for it, you can add your spouse's monthly income to it to expand your qualifying borrowing amount. So in the example above for instance, if your spouse can provide a verifiable monthly income of GHS2,000 or more, your qualified household income automatically doubles bring you to the region of GHS240,000 - GHS384,000.

Note: Final borrowing amount would be determined by your remaining active working years before age 60. Higher net monthly household income obviously gives you bigger buying capacity and/or options.

 

Bonuses & Allowances

Such incomes may not reflect in your mandatory SSNIT Statement, but it can be considered. The only way your bonuses and allowances can be verified and/or accepted and factored into the equation is with your payslip and most recent bank statement.

 

Investment Income

Only statements from BoG/SEC-regulated financial institutions can be accepted as additional income.

 

Informal Sector Income

Informal sector employees (typically not SSNIT-registered) can be a joint applicant only with a formal sector employee (Public/Private Sector). Proof of funds or income from informal sector workers can only be Bank Statement, BoG/SEC-regulated investment statement/account, Mobile Money Statement.

 

Business Owner Income

To use our services as a business owner, your business must be limited liability company registered and you must be a majority or principal shareholder.

 


 

Related Pages

Household Income Boosters

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Why Choose Us

How We Compare

YOUR HOME (OR COMMERCIAL PROPERTY) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBTS SECURED ON IT - REPAYMENT ASSISTANCE PROGRAMME AVAILABLE FOR QUALIFIED CUSTOMERS. ALL APPLICATIONS ARE SUBJECT TO STATUS AND OUR LENDING CRITERIA - THIS MEANS THAT THE AMOUNT WE WILL LEND YOU WILL DEPEND ON YOUR INDIVIDUAL CIRCUMSTANCES, THE TYPE OF PROPERTY AND THE AMOUNT YOU BORROW.

We are Non-Deposit Taking No Upfront Fee Direct Lenders (not brokers). Terms, conditions and rules govern our operations, so if you disagree with any of them in part or in whole, please don't use our services. All loanable funds are private patient capital from dedicated sustainable and reliable sources and not sourced funds from the general public. We're Fully-Compliant: Our mortgages are structured as Seller-Financed Mortgages (SFM) and where applicable, as Commercial Mortgages, which do not require Bank of Ghana (BoG) regulation. Legal & Compliance Provided by TLA Firm & Ghanaian Partners. For more details, see Regulation & Compliance.

© 2021 DCANS Mortgage, Ghana, affiliated to DCANS Mortgage UK (FCA-Compliant), Proprietary Trading Firm DCANS FX, Ghana's Biggest BNPL Provider DCANS Pay, UK's One-Stop Earned Wages Provider Quid Pay, No Upfront Fee Non-Deposit Taking Direct Platform Lenders Sikamaster Loans (Ghana) & Quidmaster Loans (UK), UK-based Remittance Platform to Africa & Beyond Moneyafrique, TDG Startup Ecosystem Funders [GhanaStartups.org ++ UKStartups.net ++ EUStartups.net] and DCANS Capital Limited (CRN: 07970200), are all part of the AML-Compliant TDG GLOBAL CREDIT SYSTEM of The DCANS Group (TDG) Limited (Registered in England & Wales, CRN: 12645872, VAT #: GB 157 9161 82), but dual-headquartered in Ghana & the UK.

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