REQUIREMENTS FOR REPUBLIC BANK MORTGAGE LOAN APPLICATION (GENERAL)
APPLICATION
- A completed and signed Republic Bank Mortgage Application form
- Processing Fee
IDENTITY
- 1 passport-size photograph
- Personal Reference Form (download and complete)
- Proof of Relationship(If Joint application)
- Power of Attorney (must be witnessed by a Notary Public) where applicable.
- Valid Phot ID (Ghana Card, Passport)
ADDITIONAL REQUIREMENTS
- Offer Letter from Real Estate Developer or Vendor (HPM application only).
- Minimum deposit or down payment of 20% of the total cost of the property (HPM application only).
- Valuation Report (to be done by a Republic Bank recommended Valuer).
- Title documents to the property.
- Approved Building Plans/Development permits for Home Improvement, Home Completion Mortgage and Build and Own Mortgage.
- Bills of Quantities for Home Improvement, Home Completion Mortgage and Build and Own Mortgage.
INTEREST RATES – GHANA CEDI
- For individuals – 18% per annum (fixed)
- For businesses – 23% per annum (fixed)
- National Homeownership Fund Scheme – 13.5% per annum (fixed)
INTEREST RATES – UNITED STATES DOLLAR (USD)
- Mortgages up to 15 years – 11.5% per annum