The Head of Mortgage Banking at Republic Bank, Dan Adjetey Morhenu, has assured prospective homeowners that the bank does not have a minimum salary requirement for customers seeking mortgage financing.

According to him, Republic Bank’s mortgage solutions are designed to accommodate customers across different income levels, with the financing arrangement depending largely on an applicant’s income and the type of property they intend to acquire.

Speaking on Joy FM’s Super Morning Show on Monday, August 24, Mr Morhenu said the bank could support customers at different stages of their homeownership journey, including those who may need to acquire land before gradually developing their properties.

His comments followed the conclusion of the 2026 JoyNews-Republic Bank Habitat Fair at the Achimota Retail Centre, where prospective homeowners engaged financial institutions, property developers and other players in the housing sector.

The three-day mini-fair, held from Friday, August 21 to Sunday, August 23, provided patrons with an opportunity to seek information on mortgages, property acquisition, construction financing and other housing solutions.

‘We don’t have a minimum salary’

Mr Morhenu said one of the most frequently asked questions at the fair was the minimum salary required to qualify for a mortgage.

He explained that Republic Bank does not impose a fixed salary threshold, stressing that people with different income levels could explore mortgage options.

“One of the key questions that came up was what is the minimum salary to qualify for a mortgage, and we kept hammering that we don’t have a minimum salary. No matter the amount you earn as income, there is a mortgage for you,” he said.

He explained, however, that an applicant’s income would determine the type of mortgage arrangement and homeownership path that would be most suitable.

Customers with lower incomes, he said, could begin by acquiring land and gradually progress to construction, while those with higher incomes could potentially purchase completed properties.

“Based on the quantum of income, some people may have to start from the land and we walk them through the building. Some also, because they earn so much, are able to acquire properties immediately,” he explained.

Mr Morhenu said Republic Bank’s approach was not simply to provide loans but to structure mortgage solutions around customers’ individual financial circumstances.

He also highlighted the bank’s fixed mortgage rates, saying they provide borrowers with greater certainty and help them manage their finances throughout the repayment period.

“At Republic Bank, our rates are fixed. We fix it because we want you to manage your cash flow, so it is not just about purchasing a house; we are also managing your cash flow for you,” he said.

‘There was a long queue before we set up’

Mr Morhenu also described the turnout at the Habitat Fair as unexpectedly high, saying a queue had already formed at the Achimota Retail Centre before exhibitors had completed setting up on the opening day.

“It was exciting. I was quite surprised that even before we set up on Friday, there was a long queue at the mall waiting to have a conversation with not just Republic Bank, but the other exhibitors,” he said.

He said the strong interest continued throughout the three-day event, with Republic Bank’s booth remaining busy until late on Friday.

According to him, the bank’s mortgage team stayed until about 8:30pm on the opening day to attend to the last customer.

The interest continued on Saturday, when more members of the public visited the fair and sought information on mortgage financing.

“We had our fellow bankers who came around to ask questions, we had government workers, expatriates who came around and we had to take our time because mortgages are not just a one-time decision that you take,” he said.

Mr Morhenu stressed that purchasing a home was a major financial commitment and required careful discussions between prospective borrowers and mortgage specialists.

He said the bank was prepared to spend sufficient time with customers to understand their financial circumstances and guide them towards suitable mortgage options.

Republic Bank offers refinancing for dollar mortgages

The Republic Bank executive also addressed challenges faced by some borrowers who had taken US dollar-denominated mortgages from other financial institutions.

He disclosed that the bank undertook several refinancing arrangements in 2022 for customers who were servicing dollar loans but were struggling with the financial burden.

“In 2022, we had to refinance a lot of these loans. They had US dollar loans with other banks. They approached us to refinance them in cedis, so most of them are okay now,” he said.

He urged customers who may still be struggling with foreign currency-denominated mortgage obligations not to abandon their properties but to approach Republic Bank to explore possible refinancing options.

“If there are some of them who are still struggling, don’t walk away from your property. They should come and speak to us so that we can refinance them into cedis,” Mr Morhenu said.

He assured such customers that the bank could consider flexible repayment arrangements depending on their circumstances.

‘We were really overwhelmed with the numbers’

Also speaking about the Habitat Fair, Mortgage Specialist at Republic Bank (Ghana) PLC, Elizabeth Abena Anokware Amedeka, expressed appreciation to members of the public for their strong participation.

She said the turnout reflected growing interest among Ghanaians in understanding how mortgages work and the steps involved in securing a home.

“We want to thank the public for the massive turnout. It was great; people asked the right questions about mortgages and how to start. We were really overwhelmed with the numbers,” she said.

Ms Amedeka encouraged members of the public to participate in future editions of the fair, assuring them that Republic Bank was ready to guide prospective homeowners throughout the homeownership process.

She said the bank’s support went beyond providing financing, with mortgage specialists available to guide customers from the initial stages through to acquiring their homes.

“Republic Bank is ready to walk you through this journey and we are ready to assist you from the beginning of the process to you picking up your keys,” she said.