Finance Co. Ltd.
2nd Floor Trust Bank Bldg.
Kanifing, New Jeshwang
The Gambia, West Africa
Tel no: +220 4376375
The Home Finance Company of The Gambia Ltd. (HFC) are
a Gambian based mortgage firm offering home loans to
individuals to purchase residential properties.
They claim to offer low rate financing and flexible
• HFC House Purchase Mortgage
This product is a mortgage financing facility designed
to assist prospective buyers to purchase residential
properties on the market. It is flexible and can be
personalised to the applicant’s requirements. Maximum
repayment term of 20 years applies.
Applicants under the HPM may be resident, non-resident
Gambians or corporate customers, with verifiable and
sustainable monthly incomes sufficient to repay the
loan within a specified term. The maximum term for this
line of credit facility is 15 years for resident Gambians
and 10 years for non-residents or the equivalent of
the applicant’s residual working life, whichever is
earlier. Business HPM loans are for periods of 5 to
7 years. Joint applications between spouses, parent/child
and siblings are permitted.
Borrowing shall not exceed 70% of the value of the house.
The maximum loan amount for a corporate request is 15%
of the net worth of the entity or as determined from
time to time by HFC. Any additional amount required,
in excess of the approved loan, must be contributed
by the applicant, or obtained through a joint financing
Clear and undisputed title to the property, duly registered,
together with all necessary permits, and approved building
plans are necessary requirements. An applicant will
be required to make a minimum down payment of 30% of
the cost of the house and secure the loan with the property
under a mortgage deed.
Three factors determine what your monthly payment amount
(1) Mortgage amount
(2) Repayment period
(3) Interest rate charged
• Home Completion
This plan is designed to assist applicants with money
to complete the construction of their incomplete house
in Gambia. The facility is available for applicants
with verifiable and sustainable incomes, and the ability
to repay the loan within a specified term.
Loans shall not exceed 70% of the total cost of construction
of the property. Applicants are therefore required to
have contributed, at least, 30% of the total construction
• Equity Release:
They also offer home equity loans which enables home
owners to realise the equity accumulated in their house
to increase their purchasing power by refinancing their
house. The equity released should be used in a meaningful
With the Home Equity mortgage loan, HFC will lend to
qualified homeowners up to 80% of the equity vested
(forced sale value) in their properties. Where prospective
borrowers have existing loans on their buildings, HFC
would seek to consolidate them with the expected credit
advance where possible to become the first lien holder.
• Home Improvement Loans:
This HFC scheme offers home owners money to undertake
improvements or renovations and extension works on their
existing house in Gambia.
The amount of monthly installments will be the projected
amount required to amortize the loan over the agreed
The information above may be out of date so you should
check details with the above mentioned home loans company
directly before making any mortgage or other decisions.