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

Benefits

• Competitive Interest rates
• High loan amounts
• Long tenor period to allow repayments for up to 20 years.
• Guaranteed response within 24 hours
• Loan amounts dependent on your income and property value

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