When you’re shopping for a home, there’s more to consider beyond the number of bedrooms, size of the yard and the location. You also need to think about how you’ll pay for the house. For many homebuyers, that means applying for a mortgage.

Not all mortgages are created equally. Some offer a fixed interest rate, which remains the same throughout the life of the loan. Others have adjustable rates, which can change based on a schedule. Some mortgages need to be paid off within 15 years, and others give you 30 years to pay.

A 30-year fixed-rate mortgage is the most popular option among homebuyers in developed markets but definitely not in Ghana as we speak in 2023, but it's available with us. Learn more about what it means to take out a 30-year home loan, what a 30-year fixed mortgage rate means and whether this loan is the right option for you.