Owning your dream home is now simpler, faster and more convenient with Absa. Whether you are buying a new home, borrowing against your current property, upgrading your existing residence or transferring your mortgage to Absa, they have solutions tailored to meet your needs. The Absa Home loan has the following features.
Key Features
a. Finance Amount: Borrow up to five million Ghana cedis (GHS5,000,000).
b. Home Purchase: Get up to 90% financing for your home purchase.
c. Equity Release & Home Improvement: Access up to 70% financing for equity release or home improvements.
d. Debt Service Ratio: Maximum of 50%.
e. Flexible Repayment Terms: Loan terms ranging from 5 to 20 years.
f. Insurance Coverage: Includes property insurance and credit life insurance covering death, permanent disability, and retrenchment.
Requirements:
e. Interest Rates: 26% annual interest for cedi mortgages and 11.5% for dollar mortgages.
Criteria for financing Absa home loan
a. The loan amount depends on your income and the value of the property you’re purchasing.
b. Salary: Your salary must be deposited into an Absa account.
c. Location: The property should be within Accra, Kumasi, or their surrounding areas.
d. Repayment Period: The maximum repayment term is 20 years or up to age 60, whichever comes first, depending on your employer’s retirement age policy.
Documents Required
a. For Salaried Workers and Professionals (e.g., Lawyers, Doctors):
Current payslip
b. Proof of identity (National ID, valid passport, or driver’s license)
For Home Purchase
a.Offer of sale from the vendor
b. Land title certificate
c. Indenture
d. Deed of assignment
e. Site plan
f. Building permit
g. Ground rent receipt
h. Consent to mortgage (if applicable for leasehold)
i. Sale and purchase agreement
For Equity Release and Home Improvement
a. Land title certificate in the customer’s name
b. Indenture
c. Site plan
d. Building permit
You can make further enquiries by calling Absa’ customer service representative on +233 (30) 242 9150 (network charges apply)
0800 222 333 (MTN and Vodafone or send an email to customerexperience.gh@absa.africa
