Own property in U.S. without leaving Ghana
By Solomon Nartey Tetteh
US-based Ghanaian realtor Portia Asare has assured Ghanaians living and working locally that they can indeed acquire property in the United States through specialized foreign mortgage arrangements.
In recent years, there has been growing interest among Ghanaians in investing in real estate abroad, especially in the U.S. This trend is fueled by factors such as the desire for stable, long-term investments, access to foreign currency returns, and aspirations for international property ownership.
Speaking on Business Breakfast on Zed 101.9 FM, Ms. Asare explained that despite earning income in Ghanaian cedis and residing in Ghana, individuals can still qualify for a U.S. mortgage.
“You live in Ghana, you work in Ghana, your income is in Ghana cedis, yet you can absolutely get a mortgage from a U.S. bank to buy property in the United States. These lenders will vet the documents you submit and determine your purchasing power if you meet the standard requirements,” she indicated.
Ms. Asare noted that several U.S.-based lenders offer mortgage packages specifically designed for foreign buyers, including Ghanaians.
She emphasized that the current standard down payment for foreign buyers is at least 20 percent, though this may vary depending on the lending institution.
Ms. Asare also advised potential buyers to keep extra savings on hand to cover unforeseen expenses such as minor property updates, maintenance, or property management after purchase.
The realtor cautioned against rushing the process and urged prospective buyers to do proper research, ask questions, and consult trusted professionals.
“Don’t be hasty to get to the end. Take your time. Do your homework, ask as many questions as possible, and talk to people who have gone through the process,” she advised.
Ms. Asare further warned against excessive spending, stressing the importance of financial discipline when preparing to secure a loan.
“If I’m giving you USD200,000 as a loan, I need to trust that you can manage it well and make your monthly payments on time,” she added.
