You will be living in the property that will be yours in the near future. You may not qualify for a mortgage or loan at the start of the contract, but you may be able to do so in a few years’ time (in 5yrs time or earlier) when the option is required to be paid.
If your net monthly salary is above GHS2,000 but cannot qualify you for a traditional home mortgage, our rent-to-buy option gives you a seat at the table of homeowners. With our initial 5yrs to either pay the home off or increase your income levels by either getting a raise, or adding more income sources (via doing part-time jobs or starting a business, etc), to qualify you migrate you onto a home mortgage.
With our GHS120,000 house price of a one-bedroom apartment here, your home equity at the end of 5yrs will be GHS18,000, if you paid GHS12,000 to move in and made 60 monthly payment of GHS600, the outstanding balance of GHS102,000 would either have to be paid off, migrate onto a 30yrs-mortgage if you're 30yrs at the end of the initial 5yrs with a net monthly of at least GHS2,100 - your monthly mortgage payment for a 12% p.a. 30yr-fixed mortgage from DCANS Mortgage, your monthly mortgage payment will only be GHS1,050 for the one bedroom apartment.
On the other hand, if you have a GHS10,000 move-in payment and your net monthly income is at least GHS2,262.94, we can get you started on a traditional home mortgage from DCANS Mortgage Ghana (a partner provider) right away at an annual interest rate of 12.00% for a 30yr-fixed home mortgage, where your monthly repayment will be GHS1,131.47