August 26, 2026
Buying an apartment in Ghana does not necessarily mean paying the full purchase price upfront.
Depending on your income, residency status, the property you are buying and the currency in which you earn, you may be able to finance your purchase through a bank mortgage, a homeownership scheme or a payment arrangement offered by a property developer.
And Ghana’s mortgage environment has changed considerably.
Interest rates across the wider banking sector have declined from their 2025 levels, while lenders including Absa, Stanbic Bank, Republic Bank and First National Bank offer different home-financing options for qualifying buyers.
For prospective homeowners and property investors, the important question is therefore no longer simply:
“Can I get a mortgage in Ghana?”
It is:
“Which financing structure makes the most sense for the property I want to buy and the income I earn?”
This 2026 guide explains how mortgages in Ghana work, the main financing options available, what lenders typically assess and what buyers should check before committing to a home loan.
Quick Answer: Can You Get a Mortgage to Buy an Apartment in Ghana?
Yes. Ghanaian residents, non-resident Ghanaians and, depending on the lender and product, other qualifying applicants can obtain mortgages to purchase residential property in Ghana.
Mortgage products vary considerably between lenders.
Depending on the product, financing may be available in Ghana cedis or foreign currencies, with repayment periods extending as long as 20 years in some cases.
Banks will normally assess your income and affordability, credit history, employment or business income, existing debts, deposit or equity contribution and the property being purchased.
The property itself must also satisfy the lender’s legal and valuation requirements.
2026 snapshot
| Indicator | Current position |
|---|---|
| Bank of Ghana Monetary Policy Rate | 14.0% |
| Average bank lending rate | About 16.3% in April 2026 |
| National Mortgage Scheme announced rate | 8.4% |
| Typical maximum mortgage term | Up to 15–20 years, depending on lender/product |
| Maximum financing | Can reach 80%, 90% or even 100% on qualifying products |
| Resident and diaspora products | Available from several lenders |
These figures should not be interpreted as a guaranteed mortgage offer. Your actual interest rate, deposit, loan amount and repayment period will depend on the lender’s assessment and prevailing terms when you apply.
What Is a Mortgage in Ghana?
A mortgage is a long-term loan used to purchase residential property, with the property normally serving as security for the loan.
Instead of paying the entire apartment price in cash, the buyer contributes any required deposit or equity and the lender finances the approved balance.
You then repay the loan, together with interest and applicable charges, over an agreed period.
For example, imagine an apartment costs US$200,000.
If a lender approves 80% financing:
Property price: US$200,000
Buyer contribution: US$40,000
Mortgage: US$160,000
The exact structure will depend on the lender, your income currency, affordability and the property being financed.
Importantly, buyers should not assume that every bank requires a 20% deposit. Some mortgage products provide higher levels of financing for qualifying applicants.
Are Mortgage Rates in Ghana Falling?
Ghana’s broader interest-rate environment has improved significantly compared with 2025.
Bank of Ghana data shows that the average lending rate of banks declined from approximately 27.4% in April 2025 to 16.3% in April 2026.
The Monetary Policy Rate also declined substantially, reaching 14% in March 2026 and remaining at that level following the July 2026 Monetary Policy Committee meeting.
That does not mean every mortgage currently costs 14% or 16.3%.
Mortgage pricing depends on factors including:
- the lender;
- loan currency;
- whether the rate is fixed or variable;
- the borrower’s risk profile;
- income;
- deposit/equity;
- loan-to-value ratio;
- mortgage term; and
- the individual mortgage product.
The wider decline in lending rates is nevertheless important for prospective property buyers because financing conditions have become considerably more favourable than they were when borrowing costs were at their recent highs.
What Mortgage Options Are Available in Ghana in 2026?
There is no single “best mortgage in Ghana”.
Different products suit different buyers.
Here are some of the major options worth comparing.
1. Absa Bank Ghana Home Loan
Absa offers mortgages for purchasing, constructing, renovating and refinancing residential property.
For qualifying applicants, its published home-loan terms include financing of up to GHS5 million.
Absa states that it can provide:
- up to 90% financing for home purchases in local currency;
- up to 80% financing for foreign-currency mortgages;
- up to 70% financing for equity release or home improvements; and
- fixed-rate mortgage tenors of between 5 and 15 years.
Its maximum published debt-service ratio is 50% for local-currency mortgages and 45% for foreign-currency mortgages.
Absa also offers diaspora banking and mortgage solutions, making it one of the options worth investigating for Ghanaians living overseas who want to purchase property at home.
Who may find it suitable?
Professionals, established households and qualifying diaspora buyers purchasing completed or eligible residential properties in Ghana.
2. Stanbic Bank Ghana Home Loan
Stanbic offers several home-loan products, including financing for property purchases.
Its published Home Purchase product provides up to 80% financing, with repayment periods ranging from 5 to 20 years.
Stanbic also states that mortgages can be structured in currencies including:
- Ghana cedis;
- US dollars;
- British pounds; and
- euros,
subject to eligibility and the lender’s requirements.
This can be particularly relevant to buyers whose income is denominated in foreign currency.
Who may find it suitable?
Salaried professionals, higher-income buyers and qualifying applicants seeking longer repayment periods or foreign-currency options.
3. Republic Bank Ghana Home Purchase Mortgage
Republic Bank has one of Ghana’s more extensive mortgage product ranges.
Its Home Purchase Mortgage is designed for individuals and business owners purchasing residential property either for their own occupation or as an investment.
Published terms include:
- up to 20 years for qualifying GHS mortgages;
- up to 15 years for USD mortgages;
- mortgage options for resident and non-resident Ghanaians; and
- joint applications involving qualifying family members.
Republic Bank states that resident Ghanaian applicants may qualify for up to 100% of the property price/value under applicable local-currency arrangements, while published financing for non-residents can reach 80% in USD.
Actual equity requirements and financing remain subject to the particular product and credit assessment.
4. National Homeownership Fund Mortgage Scheme
One of the biggest developments in Ghana’s mortgage market in 2026 has been the National Homeownership Fund’s revised mortgage programme.
In August 2026, the Fund announced that mortgage lending under the National Mortgage Scheme would resume at an interest rate of 8.4% in partnership with Republic Bank.
The Fund described this as the first single-digit cedi-denominated mortgage rate achieved in Ghana in more than three decades.
As an illustration published when the revised programme was announced, a worker earning a net monthly income of GH¢2,500 could potentially qualify for a mortgage of up to approximately GH¢143,000, with monthly repayments of about GH¢1,231.95 over a maximum 20-year term.
Eligibility and qualifying properties are important, however.
Do not assume that an 8.4% mortgage can automatically be used to purchase any apartment in Ghana. Buyers should confirm current eligibility, participating properties, income requirements and availability directly with the scheme and participating lender.
5. First National Bank Ghana Home Loans
First National Bank offers several specialised mortgage products.
These include:
First-Time Buyer Home Loan
For qualifying buyers purchasing their first residential property.
Buy-to-Let Home Loan
For existing homeowners purchasing another property for rental purposes.
100% Purchase Home Loan
A particularly interesting option for qualifying resident Ghanaian first-time buyers who cannot raise the standard minimum deposit.
FNB states that its 100% Purchase product may finance the full property purchase price, with an additional insurance requirement of up to 30% of the property price.
The bank also offers home purchase, home construction, home completion and land-purchase financing.
Several products are available to resident and non-resident Ghanaians, and repayment periods can extend to 20 years.
Mortgage Comparison: Ghana Home Loans in 2026
| Lender / Scheme | Published financing | Maximum published term | Potential fit |
|---|---|---|---|
| Absa Ghana | Up to 90% local currency / 80% foreign currency | 15 years on stated fixed-rate product | Residents and diaspora |
| Stanbic Bank | Up to 80% for Home Purchase | 20 years | Residents and qualifying foreign-currency earners |
| Republic Bank | Product-dependent; up to 100% stated for qualifying resident GHS borrowers | 20 years GHS / 15 years USD | Residents, non-residents and investors |
| FNB Ghana | Up to 100% on qualifying first-time buyer product | 20 years | First-time, resident, diaspora and buy-to-let buyers depending on product |
| National Mortgage Scheme | Eligibility-based | Up to 20 years | Qualifying Ghanaian workers |
Important: This table is a comparison of selected published product features, not personalised financial advice. Mortgage rates, financing percentages, fees and eligibility can change. Always request a current written quotation from the lender.
How Much Deposit Do You Need for a Mortgage in Ghana?
There is no universal mortgage deposit in Ghana.
The frequently repeated claim that every buyer needs a 20% deposit is misleading.
Depending on the lender and product, financing may range from around 80% of the property’s approved value to 90% or, for specific qualifying products, 100%.
Your required deposit can therefore depend on:
- your income;
- your residency status;
- your credit assessment;
- the mortgage currency;
- the lender;
- the property’s valuation; and
- the particular mortgage product.
There is another important consideration.
The bank may finance the valuation, not necessarily the agreed purchase price.
Suppose you agree to buy an apartment for US$250,000, but the lender’s independent valuer determines that its acceptable mortgage value is US$230,000.
If the lender finances 80% of that valuation, its maximum financing may be:
US$230,000 × 80% = US$184,000
You would therefore have to cover the difference between the approved mortgage and the purchase price yourself.
This is one reason buyers should discuss financing before committing to a property they cannot comfortably fund.
How Do Ghanaian Banks Decide How Much You Can Borrow?
Mortgage affordability is not determined by property price alone.
The lender wants to know whether you can sustainably make the monthly repayment.
It will typically consider your:
Monthly income
Higher verifiable income generally increases borrowing capacity.
Existing financial commitments
Car loans, personal loans, credit facilities and other regular debt obligations can reduce the amount available for a mortgage.
Credit history
Your repayment history helps the lender assess your credit risk.
Employment or business income
Salaried applicants may provide employment and payslip documentation, while self-employed buyers will normally need to demonstrate reliable business income through financial and banking records.
Deposit or equity
A larger contribution reduces the lender’s exposure and your monthly repayment.
Mortgage term
A longer repayment period can reduce the monthly instalment, although it can increase the total interest paid over the life of the mortgage.
Property valuation
The lender must also be satisfied that the property provides sufficient security for the mortgage.
What Documents Do You Need for a Mortgage in Ghana?
Requirements vary between lenders, but buyers should expect to provide a combination of personal, financial and property documentation.
This can include:
- Ghana Card, passport or another acceptable ID;
- completed mortgage application;
- recent bank statements;
- payslips for salaried applicants;
- employer confirmation;
- evidence of income;
- business or financial records for self-employed applicants;
- offer letter or sale agreement for the property;
- property title documentation;
- site or survey plans where applicable;
- valuation documentation;
- building documentation where applicable; and
- evidence of your deposit or equity contribution.
Diaspora applicants may also be asked for evidence relating to employment, residency, overseas income and foreign bank accounts.
Always obtain the lender’s current checklist rather than relying on a generic online list.
Can Ghanaians Living Abroad Get a Mortgage in Ghana?
Yes.
Diaspora mortgages are available from several Ghanaian lenders.
Absa, Republic Bank and First National Bank are among the institutions with published mortgage options relevant to non-resident Ghanaians.
However, the financing structure for a diaspora applicant may differ from that offered to someone living and earning in Ghana.
A lender may consider:
- country of residence;
- currency of income;
- employment history;
- overseas credit profile;
- bank statements;
- Ghanaian property documentation;
- deposit;
- source of funds; and
- ability to service the mortgage.
Currency deserves particular attention.
If your income is in pounds sterling or US dollars but your mortgage is denominated in Ghana cedis—or vice versa—exchange-rate movements can affect the real cost of your repayments.
Where possible, discuss currency risk with the lender before selecting a mortgage solely because its headline interest rate appears attractive.
Can You Get a Mortgage for an Off-Plan Apartment in Ghana?
Potentially, but this requires more planning than purchasing an already completed apartment.
Many standard home-purchase mortgages are structured around completed or sufficiently advanced properties that can be valued and accepted as mortgage security.
If you are purchasing an off-plan apartment, ask both the developer and lender:
At what construction stage can the bank disburse the mortgage?
The answer matters because the developer’s payment schedule and the bank’s disbursement schedule must work together.
For example, a developer may require instalments during construction while the mortgage lender may only release funds after specific conditions have been satisfied.
A buyer could therefore have a mortgage approval in principle but still face a funding gap during construction.
Discuss this before signing your Sale and Purchase Agreement.
Mortgage vs Developer Payment Plan: Which Is Better?
A mortgage is not always the only way to finance an apartment.
Some property developers offer staged payment plans, particularly for developments under construction.
Consider a simplified example:
Apartment price: US$200,000
A developer might allow payments to be spread across the construction period rather than requiring the entire amount immediately.
For buyers with strong cash flow or significant savings, this can reduce or even eliminate the need for long-term mortgage debt.
A mortgage, on the other hand, can allow a buyer to spread repayments over a much longer period.
Neither is automatically better.
A developer payment plan may suit you if:
- you have substantial savings;
- your income allows larger instalments;
- you are purchasing off-plan;
- you want to minimise long-term interest; or
- you expect liquidity during the construction period.
A mortgage may suit you if:
- you prefer smaller payments over a longer period;
- you are purchasing a completed apartment;
- preserving cash is important;
- you meet the lender’s affordability requirements; or
- the available mortgage terms are attractive.
Some buyers may also use a hybrid approach: paying part of the purchase price during construction and financing the remaining balance with a mortgage closer to completion.
Costs Beyond Your Mortgage Deposit
One of the most common mistakes property buyers make is budgeting only for the deposit and monthly mortgage repayment.
The true cost of purchasing property can also include:
- property valuation;
- legal fees;
- mortgage processing or facility fees;
- registration costs;
- applicable stamp duties;
- mortgage or credit-life insurance;
- property insurance;
- service charges;
- sinking-fund contributions where applicable; and
- furnishing or fit-out expenses.
Ask both your lender and developer for a written breakdown before calculating affordability.
A lower interest rate does not necessarily mean a cheaper mortgage if the product carries materially higher fees or other costs.
How to Compare Mortgages Properly
Do not compare lenders based only on the advertised interest rate.
Ask each lender the same questions:
- What is the current interest rate?
- Is the rate fixed or variable?
- If variable, what benchmark determines changes?
- What is the maximum loan-to-value ratio?
- How much deposit do I need?
- What is the maximum repayment term?
- What is my estimated monthly repayment?
- What facility and processing fees apply?
- What insurance is compulsory?
- Are there valuation and legal costs?
- Can I make additional repayments?
- Is there a penalty for early repayment?
- Can the interest rate change during the mortgage?
- In what currency will the loan and repayments be denominated?
- What happens if the property valuation is below the purchase price?
Then compare the total cost and risk, not merely the headline rate.
A Simple Mortgage Example
Suppose you want to purchase an apartment for GH¢2,000,000.
You contribute:
20% deposit = GH¢400,000
Your mortgage requirement would therefore be:
GH¢1,600,000
Your eventual monthly repayment will depend primarily on the interest rate and mortgage term.
Even relatively small changes in the interest rate can have a substantial effect over 10, 15 or 20 years.
That is why borrowers should request a formal repayment illustration before committing to a mortgage.
Ask the lender to show:
Monthly repayment
Total interest payable
Total amount repayable
Fees and insurance
Effect of an interest-rate increase if the loan is variable
This gives you a much more realistic picture of affordability.
How to Apply for a Mortgage in Ghana
The process generally follows these stages.
Step 1: Establish your budget
Calculate the deposit you can comfortably provide and the monthly repayment you could sustain without putting your finances under unnecessary pressure.
Step 2: Compare lenders
Compare eligibility, currency, interest structure, loan-to-value ratio, repayment term and fees.
Step 3: Seek an indicative assessment or pre-approval
Do this before committing to an apartment where possible.
Step 4: Choose the property
Confirm that the property and developer meet the lender’s requirements.
Step 5: Submit your documents
Provide the financial, identification and property documentation requested by the lender.
Step 6: Credit assessment
The bank assesses your income, debts, repayment capacity and credit profile.
Step 7: Property due diligence and valuation
The lender evaluates the legal and market acceptability of the property.
Step 8: Receive the mortgage offer
Review the interest rate, fees, repayment period, insurance requirements and all conditions carefully.
Step 9: Complete the legal process
Your lawyer and the lender complete the necessary documentation and security arrangements.
Step 10: Disbursement
Once all conditions have been satisfied, funds are released according to the agreed transaction structure.
What Should You Do Before Applying for a Mortgage?
A few months of preparation can make a significant difference.
Reduce unnecessary debt
New consumer debt can reduce mortgage affordability.
Keep your banking activity clear
Regular, verifiable income makes affordability easier to demonstrate.
Build your deposit
Even where high loan-to-value financing is available, contributing more equity can reduce your mortgage requirement and monthly payment.
Review your credit history
Correct legitimate errors and address outstanding obligations before applying.
Avoid changing your financial circumstances unnecessarily
Taking on significant new debt between mortgage assessment and completion could affect your affordability.
Get your property documents in order
Financing a property with unresolved title or documentation issues can be difficult regardless of your income.
Frequently Asked Questions About Mortgages in Ghana
What is the mortgage interest rate in Ghana in 2026?
There is no single mortgage rate for Ghana. Rates vary by lender, currency, borrower and product. Bank of Ghana reported an average bank lending rate of approximately 16.3% in April 2026, but this is an economy-wide lending indicator rather than a universal mortgage rate. The National Homeownership Fund separately announced an 8.4% rate for its qualifying National Mortgage Scheme in August 2026.
What is the Bank of Ghana policy rate in 2026?
The Bank of Ghana Monetary Policy Rate is 14% following the July 2026 MPC decision.
Which banks offer mortgages in Ghana?
Mortgage providers include Absa Bank Ghana, Stanbic Bank Ghana, Republic Bank Ghana and First National Bank Ghana, among others. Products and eligibility vary significantly.
Can I get a 100% mortgage in Ghana?
Certain products can potentially provide 100% financing to qualifying borrowers. For example, First National Bank publishes a 100% Purchase Home Loan for qualifying resident Ghanaian first-time buyers. Republic Bank also publishes up-to-100% financing under certain resident Ghanaian local-currency arrangements. Approval is not automatic.
How much deposit do I need for a mortgage in Ghana?
There is no universal deposit requirement. Depending on the lender and product, financing may cover 80%, 90% or, in specific circumstances, 100% of the accepted property value. Your deposit requirement therefore depends on your mortgage offer.
Can a Ghanaian living abroad get a mortgage in Ghana?
Yes. Several lenders provide financing options for non-resident Ghanaians, although deposits, currencies, affordability requirements and documentation can differ from resident mortgages.
Can foreigners get mortgages in Ghana?
Potentially, depending on the lender, immigration/residency status, income and property structure. Foreign purchasers should also obtain independent legal advice concerning Ghana’s rules on land interests and leasehold ownership.
Can self-employed people qualify for a mortgage in Ghana?
Yes, subject to lender requirements. Self-employed applicants will generally need to provide sufficient evidence of stable and sustainable income.
Can I use a mortgage to buy an investment apartment?
Yes, depending on the product. Republic Bank’s Home Purchase Mortgage expressly covers residential properties purchased for personal use or investment, while FNB offers a Buy-to-Let Home Loan.
Can I get a mortgage for an off-plan apartment?
Potentially, but financing depends on the lender, developer and stage of construction. Confirm when the lender can disburse funds before signing a payment schedule.
How long can I repay a mortgage in Ghana?
Some lenders offer repayment periods of up to 20 years. The actual term available to you will depend on the lender, mortgage currency, your age and affordability.
Is mortgage pre-approval guaranteed financing?
No. An indicative assessment or pre-approval does not necessarily guarantee final disbursement. Final approval may still depend on credit assessment, valuation, property due diligence and satisfaction of the lender’s conditions.
Should I choose a cedi or dollar mortgage?
Ideally, consider the currency in which you earn most of your reliable income. Borrowing in a different currency can expose you to exchange-rate risk. Ask the lender to explain the implications before choosing.
Is the lowest mortgage rate always the best mortgage?
No. Compare the interest structure, fees, insurance, repayment term, early repayment conditions, currency risk and total amount repayable.
Buying an Apartment in Accra? Finance Should Be Part of the Property Search
Financing should not be an afterthought.
Before choosing an apartment simply because you like its location, layout or amenities, understand how you intend to pay for it.
A buyer considering an apartment in Airport Residential Area, Airport West, Labone, Cantonments or North Dzorwulu, for example, should ideally establish three numbers before committing:
How much cash can I contribute?
How much can I realistically borrow?
What monthly repayment can I comfortably sustain?
Once you know those numbers, your property search becomes much more focused.
For off-plan developments, there is another question:
Can the developer’s payment plan and my eventual mortgage work together?
That conversation should happen early.
Financing a Landmark Homes Apartment
Landmark Homes buyers may have different financing needs depending on whether they are purchasing a home for themselves, investing in an apartment or buying from overseas.
Rather than assuming one financing structure works for everyone, buyers should consider their available deposit, income currency, preferred repayment period and whether a mortgage, developer payment plan or combination of the two provides the most appropriate route to ownership.
Our team can help prospective buyers understand the payment structure for the Landmark Homes development they are considering and the property documentation required as they explore financing with their preferred lender.
Speak with Landmark Homes about available apartments, payment schedules and the next steps towards financing your property purchase in Accra.
Mortgage products, rates, lending criteria and government schemes can change. Information in this guide is based on publicly available information as at September 2026 and is provided for general educational purposes only. Always confirm current terms directly with the relevant lender and obtain independent financial and legal advice before committing to a property purchase.