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5 thoughts on “Diaspora Gets All The Good Stuff, Steward Bank Offers 0 Deposit Loans For Buying Or Building Homes Back Home

  1. Ko isu vana vevhu, tiri kuno kumusha? Chokwadi nyika inorwadza iyi, saka isu tiri kuno zvedu zvafa ka? Sei Steward Bank isiri kutipawo ma 0% deposit aya asi tichibhenga mari yedu mubhengi menyu imomo? Nyatsofungai nekuti mangwani ndinhasi. Kana isu tisina kutiza nyika tikaramba tichisemwa, tichiomeserwa
    kudai, shuwa nerimwe zuva tichatanga hondo.

  2. Copied from one analyst…………..

    Somebody sent us info abt Steward Bank’s Diaspora Mortgage where they are offering a 2% interest. I wouldn’t do the deal unless I understand the true value of the homes. Is the home worth $100 000 (United States Dollars) or EcoCash$100 000. If the homes are worth EcoUSD100 000 then in reality they are worth just $57 000. If the term of the mortgage is 25 years and you are paying this back in USD, it means you will in total pay $USD128 000 on something that at true value would have been $72,479.09 (Principal + interest). So in 25 years you would have lost $55 500 to Steward Bank. Idhiri remazhanje! Thank Pachedu late

    1. I think the analyst forgot to factor in:
      1. The time value of money
      2. What a house in Ruwa costs at RTGS rate
      3. Whether or not buyers have the lump sum to buy property
      4. What would be the value of the property in 25 years
      5. The definition of loss

  3. The write conveniently forgot to put whether this is in USD or rtgs… If it’s in RTGS and the bollar keeps falling then it’s a good deal… But banks bring banks it’s in USD and over priced…a good in Ruwa for 100000 is a bit steep

  4. As long as USD continue to attract a premium in the black market, the diaspora community will not benefit much since prices in RTGS are being inflated by as much as 80 – 100% of the actual USD value. For a example, a house in Westlea which usually sold around 60k hard cash is currently asking for over 100k RTGS. So the banks will be be getting hard cash 100k instead of the real value of the property 60k in essence. But we should not quickly rub salt on the deal, 25 years is too long period. Maybe the cash selling will varnish at some point leaving the diaspora community advantaged again.

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