The National Housing Fund (NHF) has cut the interest rate on its National Mortgage Scheme from 13.5% to 8.4%, in a move aimed at making home ownership more affordable for Ghanaians.
NHF Chief Executive Officer Prosper Hoetu announced the reduction at the opening of the National Conference on Housing Finance on Wednesday, October 7, 2026.
The Fund has also lowered the rate for developer financing to 10.4%, following a blended financing arrangement with its partner financial institutions.
“Your Excellency, last month, the Fund resumed lending under the National Mortgage Scheme at an interest rate of 8.4 percent, down from 13.5 percent. Developer financing is now at 10.4 percent.
“This has been made possible through prudent management of the economy and a blended financing arrangement between NHF and our partner financial institutions. The response has been very encouraging,” Hoetu stated.
He said the lower rates had prompted significant interest from potential homeowners, including applicants who had previously been unable to qualify for mortgage finance.
“We have received a significant number of applications because prospective homeowners who previously could not qualify are now able to consider a mortgage,” he noted.
Several financial institutions have also indicated an interest in joining the programme, increasing pressure on the NHF to expand its investment in the scheme and accommodate more applicants.
“A number of financial institutions have also expressed interest in participating in the programme. We therefore have to increase our investment in the Scheme to expand the programme and accommodate more applicants,” he added.
Hoetu said the NHF had piloted both the National Mortgage Scheme and the Rent-to-Own Scheme successfully. Over the last year and a half, the Fund had reviewed the two schemes to improve their affordability and accessibility.
He argued that Ghana’s housing challenge should be considered not only a social concern but also a significant issue for the country’s economic development.
“Mr. President, the housing finance challenge is too large for any one institution to address,” he said.
The National Conference on Housing Finance was convened by the NHF in collaboration with the Ministry of Finance, Ministry of Works, Housing and Water Resources, Ministry of Local Government, Chieftaincy and Religious Affairs, Bank of Ghana and Shelter Afrique Development Bank.
The two-day event will examine how to widen access to housing finance, ease constraints affecting housing supply, support green and climate-smart housing, and expand the use of non-interest banking and green financing.
Hoetu also disclosed that the NHF, Shelter Afrique Development Bank and the Ministry of Works, Housing and Water Resources, under the leadership of Hon. Kenneth Gilbert Adjei, commissioned a rapid diagnostic assessment of Ghana’s housing sector in August this year.
The assessment used Shelter Afrique Development Bank’s VIRAL Diagnostic Toolkit, which evaluates the Vision, Institutions, Regulations, Actors and Local initiatives within the housing ecosystem.
Hoetu said the diagnostic report had been completed and that a high-level summary would be presented at the conference.
The NHF plans to use the findings to develop a Country Housing and Urban Development Partnership Strategy (CHUDPS), designed to create a framework for mobilising resources and investment in the housing sector.
