As Cambodia’s only licensed, specialist mortgage provider, First Finance provides under-served Cambodians access to long-term housing finance to grow their security and wealth.
And, importantly, First Finance offers some of the most flexible and Cambodian-appropriate conditions for loaning, Kingdom-wide. For those of you who have been seeking a home loan but facing rejections at other banks, please read on... First Finance can help you!
Tell us about First Finance:
First Finance was established in 2009 after a successful concept testing in 2006 by our local founding company First Home, with joint venture from Singapore based Phillip Capital and Luxembourg based Insitor Fund.
Back in 2006, it was very difficult for those who have low-middle incomes to buy a house since banks puts more focus on high income customer. Seeing this challenge, our founding shareholder puts together a concept to provide finance to those with low-middle income to purchase their dream house.
Although licensed as MFI, First Finance focuses on micro-mortgage which is very different from other MFIs.
What type of customers can loan from First Finance?
First Finance focuses on low-middle income households. Those with regular income are able to apply for a loan from First Finance. This include salaried employee, and self-employed (ie, Tuk tuk driver, shop vendor…etc). Even though the client does not have written evidence of the monthly income, our staff are trained to assess the income and monthly repayment capacity of the client to determine the loan amount.
How much can I loan with First Finance?
Our product ranges from USD2,000 to USD60,000.
Besides home loans, what other services does First Finance offer?
First Finance focused on micro-mortgage. In addition to home loan, we also provide loan to construct or renovate a house. Client may also take loan from First Finance to buy land for residential purpose. In addition to the three products above, First Finance also extend personal or business loan to our existing clients to use for personal purpose or to extend/set up new business.
In summary, we have four products – home loan, home improvement loan, land loan and home equity loan.
Is there anything else you would like to say to your customers?
For those who think that they cannot afford a home, we encourage them to visit First Finance as we can help them to own their dream home. In addition to accepting soft title, First Finance allows up to three co-applicants per loan application. For every individual, no matter who you are, owning a home is possible with First Finance.