Becoming a homeowner is an achievement that everyone wishes to accomplish, and we are going to do our utmost to make this dream come true. See for yourself as you step by step go through this easy and helpful homebuyer’s manual.

We are here to assist you to select the ideal home that meets your objectives and is tailored to your specific requirements. Our low-interest rates, innovative products, and great private attention make becoming a homeowner simple for you!

Before you begin the house purchasing cycle, it’s essential to understand how much you can pay for a house.

This can be easily created by your broker or agent by pre-qualifying you before you begin looking for a house. A pre-qualification is free and can normally be achieved in one or even one visit. You’ll understand the cost you can afford at home by becoming pre-qualified and what your monthly bills will be if it’s a mortgage.

A true real estate professional is an expert who understands precisely which houses to sell and which can satisfy your requirements and desires. Explain your objectives to your officer and your officer will be able to pre-select housing within your cost spectrum. Additionally, your officer can provide you with data about various neighbourhoods that you may want to stay in, as well as suggestions that you may not have carried into account. Your officer can also provide practical guidance on what you should be looking for in a home. Your agent will be there to help when it’s time to make a home offer you want to buy.

A real estate expert plays a very significant part in the house purchasing process and should be thoroughly chosen.

Contact one of our agents at Appolonia City’s oxford free of charge, no commissions and no charges for agents.

+233 204 693 673 or

In order to reduce the number of households you are visiting, you should first decide which factors are relevant, such as the price of the house and the place, and then begin to determine more particular information such as the neighborhood, the features of the house and the sort of accommodation (i.e., the condominium, the household). The location is the most significant variable that affects the importance of the home. Most homebuyers are prepared to sacrifice some of the characteristics and characteristics of their home to purchase a house they prefer in the region or neighbourhood.

This is a very important understanding because you can almost always make some adjustments or create some remodeling to have in your house everything you want, like adding to another single room or putting in a backyard pool. But once you’ve moved home, no matter how many improvements you’re making, you’re not going to be able to move this home from one city to another, or from the north to the east side of the country!

Suggestions for a house evaluation

Once you’ve decided which features you want to have your dream house to have and which neighbourhoods you want to live in, you should start looking at homes with your agent for sale. During this period, the properties you visit must be thoroughly evaluated.

Use a critical eye to get used to viewing properties.

Check each home carefully, making sure every area you find relevant in your house is looked at and evaluated. Don’t hesitate to take videos so you can remember the Pros and Cons.

Before making a final decision

It’s very important to inspect it “from up to down” when you finally find your dream house. Sellers sometimes cover significant faults with paint or 3D epoxy, so individuals who do not perform thorough checks will not notice the harm. These faults often cost a ton of repair after you bought the property, so before you purchase it, you should do your utmost to inspect the home very carefully.

You should get to understand the neighbourhood before making an offer on a home. During separate days of day and night, visit the region. Meet and ask your potential neighbours about the neighbourhood.

It’s time to present your offer

When you are ready to prepare your offer, your agent should draft a sales and purchase agreement, which is the paper you will submit to the seller, and where you give a purchase cost and any conditions you may have.

If your offer is approved, you will need a 20 per cent initial deposit demonstrating your commitment to buying the property. Ask your agent or broker if you’re not sure how much money a deposit requires.

Finding the correct home loan

As a first house buyer, knowing how much you can afford is one of the most significant components of your journey.

Recalling the amount you can borrow and how much you have is two different things. You may have the capacity to borrow $460,000, for instance, but you need to make sure you can keep up with your household budget repayments down the line. You can access multiple tools and resources to determine how much you have to borrow.

Mortgage calculators are an excellent tool to offer you an estimated figure at your fingertips.

Determining a figure

How much you have to spend on the first home purchase will eventually rely on many factors:

• Any earnings

• Employment status

• Personal debt level

• Credit record

• Any assets or investments

Paying the deposit

When you purchase a home you will have to pay a deposit that can begin from 20% of the purchase cost.

You will need to get housing financing from a mortgage lender before you commit to looking for or purchasing a home.

You may be asking yourself as a first home buyer, “Which home loan is best for me?”There is no fixed response to this issue because it depends on your personal preference and lifestyle. The industry has four major kinds of mortgage.

Home Purchase Mortgage (HPM)

This sort of mortgage is intended to help businesses and people purchase property for use or rental purposes. The borrower is generally anticipated to create a downpayment of at least 15 per cent and the bank will provide a credit equivalent to a purchase cost of up to 85 per cent.

Loan conditions are generally 15 years, and interest rates are variable (ARM) rates, as with all home loans in Ghana.

Home Equity Mortgage (HEM)

This product is designed for people who already own property to release equity in that property to improve their liquidity. This mortgage can only be applied for by individuals or companies that already have properties that are fully paid for or currently funded. The maximum loan permitted under this program varies from bank to bank, but the interest rate is always variable and the length is usually 15 years.

Home Completion Mortgage (HCM)

This item should be used by borrowers who need a loan to finish the building of their home. Initially, the building might have been financed by the own cash of the owners, their employer, bank or another mortgage firm.

Again, the maximum loan varies from bank to bank, but the loan term is 15 years, the maximum loan value is usually 50%, and the interest rate varies. This loan is intended to help existing owners improve their property or business premises. It is similar to the HEM above, except the loan must strictly be used on the designated property


Your property must be residential
You should be able to pay off the entire loan amount before your 60th birthday You should have valid evidence of ownership of the property (in the form of the land title certificate, fully registered indenture or any other document we deem acceptable) 2 forms of identity (passport, license, etc.)
2 recent passport pictures
3 months’ recent payslips / other sources of income
3 months’ recent bank statements
Proof of address (2 different utility bills or tenancy agreements etc)
A credit report if you are a non-resident Ghanaian or foreigner
A completed GHL Bank Mortgage Application form
Offer letter from the vendor
Credit report (Experian/ Equifax / Transunion)
Pictures of the property
If you are self-employed, we will need the following documentation: Certificate of incorporation and certificate to commence business
3 years audited financial statements
3 years of your company’s bank statement and 1-year personal bank statement
Your company code: Form 3 & 4 for Limited Liability Companies and Form A for Sole Proprietors
Finalising the Sale

Once you’ve successfully signed the contract of sale agreement for your property, it means you can now wait for the settlement period to end. Your homeownership will still rely on a couple of variables as recognized in your sales contract.

Congratulations! You just bought your very first house. You can now enjoy the best and most enjoyable portion of the entire process-moving in.

Leave a Reply