Buy that dream home for you and your family with an Absa mortgage. Quick approval process with no hassles.

Buy a home

Benefits
  • Get up to 100% of the purchase price as a loan with a 25-year repayment period and affordable interest rates
  • Up to TZS1 billion in finance
  • Up to 90% of the purchase price and up to 100% if you take collateral replacement indemnity
  • Debt service ratio goes up to 60% if you get an Absa Credit Card
  • Flexible repayment tenure of up to 25 years (dependent on your retirement age)

  • Documents required

    • Copy of title deed of property to be purchased
    • Original sales agreement document
    • Evidence of availability of 20% down payment
    • Spouse's consent or affidavit of status
    • Valuation report of the property
    • Absa home loan application form, together with required application documents for loan qualification
    • National ID card/passport/voter's ID or driving license

Home improvement

Benefits
  • Allows you to increase the value of your house for future resale or remortgaging
  • Up to TZS500 million
  • Up to 80% financing on your property value to improve the value of your house
  • You enjoy flexible repayment with a long tenure of up to 20 years

  • Documents required

    • Copy of title deed of land to be constructed on
    • Original contractor agreement document
    • Copy of house plans and/or structural drawings for the property
    • Building permit from relevant authority
    • Bill of quantities (BOQ) report
    • Valuation report detailing land and foundation value to arrive at lifetime value (LTV)
    • Absa mortgage loan application form together with required application documents for loan qualification
    • National ID card/passport/voter's ID or driving license

Construction loan

Benefits
  • Finish construction in the shortest possible time due to availability of funds
  • Up to TZS500 million or 20% to cover initial construction costs
  • Flexible repayment tenure of up to 20 years
  • Property will be evaluated at beginning of construction and then after property is complete to ensure full utelisation of funds Funds will be advanced to you, then to contractor in tranches, that are aligned with BOQ report provided/stages of construction
  • Valuation fee starting from TZS600,000 (dependent on property value)
  • Debt service ratio goes up to 60% if you take the Absa credit card as well

  • Documents required

    • Copy of title deed of land to be constructed on
    • Original contractor agreement document
    • Copy of house plans and/or structural drawings for the property
    • Building permit from relevant authority
    • Bill of quantities (BOQ) report
    • Valuation report detailing land and foundation value to arrive at lifetime value (LTV)
    • Absa mortgage loan application form together with required application documents for loan qualification
    • National ID card/passport/voter's ID or driving license

Equity release

 Benefits
  • Get up to TZS1 billion
  • Enjoy flexible repayment with long tenure of up to 25 years
  • Allows you to carry on with your other investments without having to sell off any of your properties/investments
  • Debt service ratio goes up to 60% if you get an Absa Credit Card with your equity release

  • Documents required

    • Recent pictures of the property
    • Copy of title deed of the property to be mortgaged
    • Copy of bill of quantities (BOQ) report if funds are to be used for house extension or improvement
    • Settlement letter/mortgage statement (if it is a take-over)
    • Proof of mortgage fees and other statutory fees funds availability
    • Valuation report
    • Absa mortgage loan application form together with required application documents for loan qualification
    • National ID card/passport/voter's ID or driving license
Need more help?

Call us:
0800750078 (Toll free)
+255 (0)746 882 000 (Network charges apply)

Email us:

talktous@absa.co.tz