There are differences between the rent to buy option and the seller financing, and we use real examples to illustrate below...
If your current verified net monthly income qualifies you for a straightforward DCANS Seller Financed Mortgage, you'll be started off on it right away. If one can make monthly repayments comfortably now and the future aside the required down payment, there's no point in starting the person off on the rental phase.
We will only offer 100% DCANS Seller-Financed Mortgage subject to prospective homebuyers capacity and/or creditworthiness.
EXAMPLE 1:
For our Starter Price of GHS120,000 being bought by a 30yr old unmarried young man on a net monthly salary of GHS3,000, the following options are available to him
*
DOWN PAYMENT
Monthly Payment
PERCENTAGE TOWARDS HOME EQUITY
MAXIMUM PERIOD AVAILABLE
5YR RENT TO BUY
GHS 6,000 (5%)
GHS 1,200
10%
5yrs, not exceeding pension at age 60
5YR MORTGAGE
GHS 24,000 (20%)
GHS 2,136
100%
30yrs, not exceeding pension at age 60
...