Overview
This is a medium-to-long term housing finance product targeting salary earners as well as economically active rural and urban low, middle and high regular income earners engaged in self-employment. The loan can be used for the purpose of financing housing needs through purchase, construction or completion.
Benefits
Short and straight forward processing within seven working days
Comparatively low interest
No monitoring fees charged
Long loan periods of up to 10 years
Flexible repayment plan
Lorem ipsum
Requirements
Hold a Current or Savings Centenary Bank account
Completed mortgage application form
Payment of mortgage processing fees
Financial card
Residence within the bank’s area of operation
Eligible adult should not be more than 55 years at the time of application
Existence of verifiable source(s) of income
Borrower’s contribution of at least 30% of the total housing project cost
Proof of property ownership – genuine land title or copy of certificate of title for the property to be purchased or developed
Valid identity documents
Most recent passport photos (2)
Bill of Quantities (BOQ) for the house in the case of construction
Approved architectural design for the house in case of construction
Loan to value ratio of at most 80%.
Applicant must be a resident within the Branch’s designated area of operation
Eligible property – single family and multi-unit homes