Find your perfect home with a low down payment, easy application Home Loan

Home Loan

With a Yoma Bank Home Loan, buying your perfect home is as easy as turning the key. Inquire at your local Yoma Bank branch and let our financial experts guide you through our easy application process.



Features and Benefits

Easy Application 

Our skilled Home Loan Specialists will guide you every step of the way.


Minimum Down Payment 

Pay only 30% down on your new Home Loan


Flexible Loan Terms

With loan terms up to 25 years, take as much time as you need to repay.*


*Maximum loan terms vary depending on property type



Easy, Four-Step Process

Our Home Loan Specialists will guide you through our easy application process and, most importantly, help you get the very best terms for your new loan. 



1. Get pre-approval – Contact your nearest Yoma Bank branch to begin a discussion with our Home Loan Specialists about your loan needs. Together, we will determine what kind of loan is right for you, including the interest rate, down payment and monthly payments.


2. Find your new home – After determining what kind of loan you qualify for and acquiring a Home Loan proposition from Yoma Bank, start researching and exploring potential properties that fit your budget.


3. Contact the seller and prepare documentation – After finding your perfect home, contact the seller and begin filling out the required forms and documents.


4. Submit your application – Apply for your Home Loan by submitting the necessary documents at one of our Yoma Bank branches. Our Home Loan Specialists will proceed with the asset valuation, inspection of the property and your income statement. You can expect to hear a response from us within two to three weeks.




Requirements

Buyer

  • Original NRC card and family registration list
  • Original ward recommendation letter (proof of residence)
  • Confirmation of employment and most recent 3 month payslips (if employed)
  • Valid business license and DICA information (if self-employed)
  • Financial statements and income tax receipt (if self-employed)

Seller

  • Original NRC card and family registration list 
  • Land plot map (Form 105) and land history form (Form 106)
  • Copy of grant titles, free-hold land or related sales contract
  • Contract between developer and land owner (if applicable)
  • Any other ownership-related documents

For full document requirements, please talk to our skilled home loan specialist at your local branch.


Interest and Fees

Land and Building, condo and mini-condo, up to 25 years loan term

30% down payment

Apartment, up to 15 years loan term

30% down payment
Interest Rate 13% per annum
Interest Rate for 50% down payment
11% per annum
Processing expenses covering assessor and lawyer fees1.5% of the approval loan amount
Penalty ( late fee ) 3.5% per month on past due principal 
Early repayment fee ( if paid within first 3 years ) 3% on the outstanding principal balance


Home Loan Calculator

Disclaimer: This calculation is just for illustration purpose only, based on certain assumed prerequisites. Terms and Conditions apply.