 
Contact Address:
Home Finance Co. Ltd.
(Liquidated)
2nd Floor Trust Bank Bldg.
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The information above may be out of date so you should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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