We use an example of a customer below to enable you understand how this works in practice.
Patience Boateng (not her real name), is a 30 year old immigration officer who earns GHS2,613.33
A. Computations based on our Starter Price of a ONE-BEDROOM at GHS120,000
Legend:
GSM - Getting Started Money AR - Annual Rent MR - Monthly Rent MP - Monthly Payment OP - Option Payment
Number of Bedrooms
One Bedroom
One Bedroom
One Bedroom
One Bedroom
Duration
5 yrs
5 yrs
5 yrs
5 yrs
GSM
GHS 3,000
GHS 6,000
GHS 9,000
GHS 12,000
AR
GHS 8,400
GHS 7,800
GHS 7,200
GHS 6,000
MR = AR divided by 12
GHS 700
GHS 650
GHS 600
GHS 500
MO
GHS 140
GHS 130
GHS 120
GHS 100
MP= MR + MO
GHS 840
GHS 780
GHS 720
GHS 600
OP = MO x 60
GHS 8,400
GHS 7,800
GHS 7,200
GHS 6,000
Home Equity after 5yrs (GSM + OP)
GHS 11,400
GHS 13,800
GHS 16,200
GHS 18,000
..
B. Computations based on our Starter Price of a TWO-BEDROOM at GHS200,000
Legend:
GSM - Getting Started Money AR - Annual Rent MR - Monthly Rent MP - Monthly Payment OP - Option Payment
Number of Bedrooms
Two Bedroom
Two Bedroom
Two Bedroom
Two Bedroom
Duration
5 yrs
5 yrs
5 yrs
5 yrs
GSM
GHS 14,000
GHS 15,000
GHS 19,500
GHS 24,000
AR
GHS 14,000
GHS 15,000
GHS 13,000
GHS 12,000
MR = AR/12
GHS 1,166.67
GHS 1,250.00
GHS 1,083.33
GHS 1,000.00
MO
GHS 233.33
GHS 250.00
GHS 216.67
GHS 200.00
MP= MR+MO
GHS 1,400
GHS 1,500
GHS 1,300
GHS 1,200
OP = MO times 60
GHS 13,999.80
GHS 15,000.00
GHS 13,000.20
GHS 12,000.00
Home Equity after 5yrs (GSM + OP)
GHS 27,999.80
GHS 30,000.00
GHS 32,500.20
GHS 36,000.00
..