Getting a housing loan

What you should know

Getting a housing loan

Since the financial crisis, getting a bank loan or mortgage has been more difficult than in previous years. However, with the launch of the National Private Investment Agency (ANIP), which promotes and supports foreign investment, getting a bank loan has been made easier.

Interest rates

Interest rates on loans will vary from bank to bank, it is definitely worth shopping around to find the best rate for you. First Federal Savings Bank of Angola , offers around 2.75%- 3.99% for first time mortgage buyers, subject to change which you can check on their website.

What documents will I need?

You will need documents which are likely to vary with each bank or loan provider. A full list of requirements for ANIP approval can be found here  and include:

  • Documents proving your identity (e.g. passport, identity card)
  • Official letter detailing the loan request
  • Attorney instructing your request (if not, the promoter of the proposed investment)
  • Model of proposal, duly completed (valued at US$ 250, you can buy it online from ANIP)
  • Credit rating history

Which banks will give me a housing loan?

In a government push for real estate development, The Savings and Credit Bank  provides housing loans for property buyers in new cities. This is especially for property being built in more rural areas, such as Kilamba. The loans exclusively target new buildings and repayments have been made easier because payments can be stretched out over a longer period of time.

The BFA , BIC , and BAI  banks offer housing loans in Angola and have been urged to support the government effort to develop this sector. Most Angolans and expats will not take out a mortgage, or will not rely on it entirely and use savings or obtain most of the money through their employer, family or friends. However, since 2010 taking out a loan has become more popular amongst expats and Angolans. In 2010 housing loans reached $2 billion US dollars.

Further reading

Does this article help?

Do you have any comments, updates or questions on this topic? Ask them here: