Mortage Products
Home Purchase Mortgage-HPM
Group Scheme Construction   Stage Payment
Home Completion Mortgage-   HCM
Home Improvement Mortgage –   HIM
Home Equity Mortgage- HEM
Buy Land and Build own Home   Mortgage - BLBH
Construction Finance Mortgage   (CFM)
Construction Stage Payment   Mortgage (CSPM)
 
Mortage Products :
Home Completion Mortgage- HCM
The Product:
The HFC Home Completion Mortgage assists applicants to complete construction of their houses. The amount required from HFC Bank to complete the house must fall within the maximum loan.
Description:
Loans shall not exceed 50% of the total cost of construction of the property and the property must have reached at least the lintel level. The company will finance up to 70% of the value of the property. The maximum term for this facility is 10 years for the foreign currency loans and 15 years for the Leone Loans.

Applicants are required to submit duly registered, clear and undisputed title to the property. A Development permit, Building permit and approved building plans are also necessary requirements.

The loan is disbursed in three stages. HFC Bank will inspect the property after each stage of disbursement to ensure that the funds are utilised as agreed.
Terms:
RESIDENT SIERRA LEONEANS NON-RESIDENT SIERRA LEONEANS
Maximum Loan USD $120,000 or its Leone equivalent USD $120,000 or its Leone equivalent
Minimum Contribution 30% (cash or Kind) construction and property must have reached lintel level. 30% (cash or kind) construction and property must have reached lintel level.
Maximum Term 15 years 10 years
Processing Fee 1.5% of proposed loan US$250 / GBP150
Facility Fee Nil 1% of proposed loan
Management Fee 2.5% of proposed loan 2.5% of proposed loan
Statutory Deposit towards registration of title and security documents 1% of loan amount 1% of loan amount
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