 
Contact Address Details:
Home Finance Co. of Gambia Ltd.
(Liquidated)
Headquarters
2nd Floor Trust Bank Building
Westfield Junction
Kanifing, New Jeshwang
The Gambia, West Africa
Tel no:
Email: homefinance@qanet.gm
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Information:
(Liquidated)
The Home Finance Company of The Gambia Ltd. (HFC) was a Gambian
based mortgage firm offering home loans to individuals to
purchase residential properties. They claim to offer low rate
financing and flexible interest rates.
• HFC House Purchase Mortgage (HPM):
This product was a mortgage financing facility designed to
assist prospective buyers to purchase residential properties
on the market. It was flexible and could be personalised to
the applicant’s requirements. Maximum repayment term of 20
years applied.
Applicants under the HPM may have been 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 was
15 years for resident Gambians and 10 years for non-residents
or the equivalent of the applicant's residual working life,
whichever was earlier. Business HPM loans were for periods
of 5 to 7 years. Joint applications between spouses, parent/child
and siblings were permitted.
Borrowing should not have exceed 70% of the value of the house.
The maximum loan amount for a corporate request was 15% of
the net worth of the entity or as was determined from time
to time by HFC. Any additional amount required, in excess
of the approved loan, would have been contributed by the applicant,
or obtained through a joint financing arrangement.
Clear and undisputed title to the property, duly registered,
together with all necessary permits, and approved building
plans were necessary requirements. An applicant would have
been 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.
Disclaimer
The information above may be out of date so you should check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.
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