We are pleased to inform you that Republic Bank has been selected by the Government of Ghana to offer Special Mortgage Loans to Civil Servants and Public Sector Employees in Ghana effective July 1, 2019. This Mortgage Scheme is funded jointly by Republic Bank and the National Housing and Mortgage Fund.
Republic Bank Affordable Loan Offer:
- Mortgage Loan up to GHS 140,000
- 100% Mortgage Financing
- Competitive Interest Rate at 11.9% per annum.
- Maximum Loan Tenor of 20 years.
- Debt Service Ratio of up to 50%.
Type of Mortgage Product offered
Home Purchase Mortgage
Affordable Homes Availability
The Scheme works in partnership with Real Estate Developers to provide affordable housing units to meet the mortgage loan offer. The following are the Real Estate Developers providing affordable houses for the first phase of the Scheme;
|Estate Developers||Location||House Types
|Adom Estate||Community 25, Dawhenya||
1 bedroom Semi-detached GHS 125,000
|Blue Rose Construction Limited||Kasoa||
1 Bedroom Semi-Detached Expandable – GHS100,000.00
2 Bedroom Terrace – GHS125,000.00
2 Bedroom Semi-Detached – GHS140,000.00
1 bedroom Non – Expandable Terrace
|Osamanpa Estates||Kasoa||2 bedroom Semi-detached GHS 80,000|
|Yaba Properties Limited||Kasoa||
1 bedroom Semi-detached GHS 100,000
promotional prices for first 100 houses GHS 80,000
2 bedroom Semi-detached GHS 140,000
promotional prices for first 100 houses GHS 120,000
2 bedroom detached GHS 160,000 promotional prices for first 100 houses GHS 140,000
Joint Salary Application
Spouses or Siblings both working within the Public Sector are eligible for joint application under the scheme. Joint salary application may access a mortgage of up to GH140,000.00.
The following financing options are available:
Option 1 – 100% Mortgage Financing by Republic Bank
Option 2 – Part Cash Payment by Applicant, Part Mortgage Financing by Bank.