Frequently Asked Questions

You can avail a maximum mortgage of up to 80% of the property cost. This would be subject to valuation of the property, as assessed by 1st Housing.
The eligibility shall be based on the repayment capability, as determined by 1st Housing. Repayment capability takes into consideration factors such as income, age, qualifications, number of dependents, spouse’s income, assets, liabilities, stability and continuity of occupation and savings history. 1st Housing’s concern shall be to ensure that the client can accommodate EMI's of the mortgage.
You can make an application any time after you have decided to take a mortgage for a property, even if the property has not been finalized.
It’s simple! Complete the Application Form that can be collected from our office and submit it along with supporting documents. On receipt of the completed application form, 1st Housing will consider your application, make enquires as it deems necessary and convey its decision.
Yes, you can apply for 1st Housing’s Home Refinance Mortgage to repay a loan availed from another bank/ institution.
The fees charged by 1st Housing for Mortgage products are affordable and very competitive. You can refer to Tariff Guide on Information section or visit our office for details.
The interest rate charged on your mortgage shall be the 1st Prime Lending Rate, adjusted for your Credit Score. You can refer to our EMI calculator to get the EMI amount on your mortgage.
The client shall bear the cost of valuation of the property and legal charges.
Proposed owners of the property, in respect of which you are seeking financial assistance, will have to be co-applicants. However, all co-applicants need not be co-owners.
The maximum tenor for Purchase and Refinance mortgages is 20 years, while for Extension mortgage is 15 years whereas Improvement & Completion is 10 years.
1stHousing has partnered with reputed banks in Tanzania to open accounts with attractive features for our clients, which shall be the medium for EMI repayments via standing orders/ instructions.
Secured by valid Title deed (Certificate of Occupancy) and Covered by Credit life & Property insurances. For providing other securities, kindly contact us.
You can avail disbursement of the mortgage after the perfection of securities. Terms & Conditions apply for Improvement, Completion and Extension.
Yes, you can make an application of early payment ahead of schedule.