Make your home dream come true with the dfcu Home Loans. This is ideal for buying a house, completing or renovating a house, equity release and refinancing.
Features
- Maximum amount is based on affordability
- Mortgage protection cover
- Attractive interest rates
- Maximum age is 65 years
- Equal installments paid by formally employed individuals
- Non equal payments paid by individuals with irregular cash flows.
- Available in UGX and USD currencies
- Repayment amount not more than 50% of net income
- Loan payable in 20years for loan in UGX and 10years for loan in USD
Requirements
Eligibility
- Both Citizens and Non-Citizens*
- Minimum age 25
- Both Salaried and Self Employed customers meeting all the specified requirements
- Professionals and consultants who earn a regular monthly income
- Collateral must be in Uganda.
Duly completed and signed home loan application form with the following documentation attached;
Personal details
- Work ID/Valid Identification such as passport
- Financial Card
- Tin number
- 3 passport size photos
- Proof of Nationality e.g. passport/voters card
- Proof of residence e.g. Utility bill, Tenancy agreement
- For Equity release and refinance mortgages involving matrimonial homes; provide spousal consent and marriage certificate. For the spouse in question, provide a valid identification and a passport size photo. Other requirements on matrimonial homes are set out in the offer letter.
- If single provide a statutory declaration to that effect.
Sources of income to be considered
- Salary
- Rent income
- Business income
Income details
-
- If employed;
- 3 Months pay slips
- 6 Months back account statement(s)
- Salary advance details if any
- Loan statements where applicable
- If self-employed;
- 12 Months bank account statements. (For all bank accounts).
- 2 year audited books of accounts where applicable.
- Provide business contracts where applicable.
- Additional income;
- Rental income: Should be evidenced on a bank account, provide certificate of title and tenancy agreements.
- Commission: Should be regular and evidenced on a bank account for the last 6 months.
- Allowances: Should be regular and evidenced on a bank account for the last 6 months.
- For salaried individuals, income from side businesses can be considered.
Employment / Business details
-
- If employed;
- Letter of undertaking from employer
- Copy of employment contract
- Copy of appointment letter
- If self-employed;
- Proof of existence e.g. certificate of incorporation / registration
- Proof of ownership e.g. Company form stating shareholding
- Memorandum and Articles of association for a limited liability company