Q. What are the current mortgage rates for first-time homebuyers in Botswana?

Current mortgage rates in Botswana for first-time homebuyers range from 7.5% to 10.5% per annum, depending on the lender and loan terms. The Bank of Botswana, the country’s central bank, sets the monetary policy and influences interest rates. Major banks like First National Bank of Botswana, Barclays Bank of Botswana, and Standard Chartered Bank offer mortgage products with varying interest rates. First-time homebuyers may also be eligible for government-backed mortgage programs, such as the Botswana Housing Corporation’s (BHC) mortgage scheme, which offers more favorable interest rates, around 6.5% to 8%. It’s essential to note that these rates are subject to change and may vary based on individual circumstances. I recommend checking with local banks and financial institutions for the most up-to-date information on mortgage rates and terms.