dfcu Bank Unveils Home Loans at 16.9% to Boost Property Ownership

dfcu Bank has introduced a competitive home loan package featuring an annual interest rate of 16.9 percent. The facility is tailored for individuals looking to purchase, build, renovate, or refinance residential property in Uganda.

According to Sebastian Murokozi, dfcu Bank’s Manager for Home Loans, the package addresses common financial hurdles faced by prospective buyers, such as high upfront deposits, insurance costs, and long-term repayment sustainability. Under the arrangement, buyers of completed homes can secure financing of up to 85 percent of the property’s open market value, with repayment terms stretching up to 20 years. Construction projects require a minimum 30 percent contribution from the customer.

The offering also introduces unique relief measures, including a 60-day repayment holiday and provisions to finance insurance premiums over time. Furthermore, the bank promises a 48-hour turnaround time for confirming qualifying applications.

To broaden accessibility, the facility serves salaried workers, the self-employed, diaspora Ugandans, and expatriates. It also supports mortgage refinancing, equity release, and funding for up to eight rental units on a single title.

Additionally, dfcu has forged partnerships with notable real estate developers like Build Net, HK Properties, and Pearl Marina to extend special concessions, such as waived legal and professional fees on selected properties. Read the original story on Nile Post.