Diaspora Home Loan in Ethiopia
Apply for a diaspora mortgage loan here
Diaspora Home Loan in Ethiopia
The service Diaspora Home Loan in Ethiopia is eligible for nonresidential Ethiopians, living or working in another country and for foreigners who have an Ethiopian origin. A Diaspora mortgage/home loan is a type of loan provided for customers who would like to:
- Build /construct a new residential House (Construct residential houses on their land)
- purchase /buy a residential house, real estate, condo (Fully constructed house or real estate for residential or commercial purposes)
- purchase/construct buildings for commercial purposes (House investments like real state, commercial mall, apartment building)
- purchase/finish an under-construction residential or commercial houses (Complete started and uncompleted construction or purchase under-construction house assets)
Common requirements to get Diaspora house/mortgage loan in Ethiopia
Diasporas who would like to apply for Diaspora home loan in Ethiopia can apply online from their own location through Banks Ethiopia website.
Most Banks share common ground when it comes to requirements for house loan access
The applicant has to be a customer of the bank he/she is applying for
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- Living (work) permit/Valid passport/ yellow card
Ethiopian citizens living aboard have to present a renewed passport and foreigners with Ethiopian origin yellow card is applicable
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- Application form
Properly filed and signed application form has to be submitted
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- Trade license
If the applicant is a business owner he/she has to provide renewed trade license
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- 20-50% of amount deposit
According to the bank’s terms the customer has to make some percent deposit of the loan amount which can be affected by
-Condition of the mortgage (constructed, under construction, to be constructed) and
-Presence of additional collateral asset
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- purchasing/lease agreement
The agreement documentation and the receipt for payment have to be presented
Loan interest rate for Diaspora Home loan in Ethiopia
Most banks give a long-term (up to 20 years) repayment agreement and 5-10% of loan interest rate. The loan interest rate for diaspora house loans varies according to the banks’ term and special conditions of the situation. Find out which are the best banks for diaspora loans in Ethiopia to help you with your banking decisions.
For non-diaspora house loan in Ethiopia, visit this page.