A mortgage is simply a loan secured on the property you buy. Three numbers decide what you pay each month.
The deposit
Lenders in Uganda typically finance 70 to 80 percent of the valuation, so expect to find 20 to 30 percent yourself, plus stamp duty, legal and valuation fees. The bank will instruct its own valuer; the figure they lend against is the valuation, not the asking price.
The interest rate
Shilling mortgages have carried rates in the high teens for several years. Dollar mortgages are cheaper but expose you to exchange-rate risk if you earn in shillings. Rates are usually variable, so budget for the payment rising.
The term
Longer terms mean a lower monthly payment but far more interest over the life of the loan. Most lenders offer up to 20 or 25 years, subject to your age at the end of the term.
The arithmetic
The monthly payment on a fixed-rate loan is:
payment = principal × r ÷ (1 − (1 + r)^−n)
where r is the monthly rate (annual rate ÷ 12) and n the number of months. The calculator on each sale listing does this for you; change the deposit, rate or term and watch the payment move. It is a guide, not an offer.
What lenders ask for
Payslips or audited accounts, bank statements for six months, your national ID, the sale agreement and a copy of the title. A pre-approval before you start viewing tells you your real budget and makes your offer stronger.