Nigeria Bank Mortgage Interest Rates

Access to mortgage in Nigeria is primarily through banks, the Federal Morgage Bank of Nigeria and licensed primary mortgage institutions.

Please find below, mortgage rates for Nigerian banks and mortgage institutions for accessing mortgage loans to finance your personal and commercial real estate development.

S. No	Mortgage Lender Name	Mortgage Rate (%)	Tenor (Up to)	Maximum Amount	Other Info
1	Standard Chartered Bank	15	20 yrs	N220M	Minimum monthly earning of ₦350,000.  Longer tenor subject to a maximum age of 60 years
2	First Bank of Nigeria	Variable	20 yrs	N50M	Available to individuals with verifiable and steady income flow. Minimum down payment of below 30%, subject to the location. Redidential property only
3	United Bank for Africa (UBA)	Variable	20 yrs	N70M	Loan Amount up to 80% of property value subject to a maximum amount of N40m for properties in Abuja, Enugu or Port Harcourt.
4	Access Bank	15 - 17	30 yrs	N500M	20% equity contribution for home loans. Commercial mortgage available
5	Fed Mortgage Bank of Nigeria	6	30 years	N15M	Any intending beneficiary must be a registered contributor with a Primary Mortgage Institution (PMI) and up to date with his/her contributions.
6	Guaranty Trust Bank (GTB)	Variable	20 yrs	N150M	Annual, semi-annual or quarterly principal repayment while interest will be serviced monthly.Monthly repayment shall not exceed 50% of net monthly salary.
7	Ecobank Nigeria	-	10 yrs	-	For buying a new home, renovating or refinancing your home. Available for completed buildings only
8	FirstTrust Mortgage Bank	Variable	15 yrs	N250M	This facility offers loans to Individuals to part-finance the purchase of a completed house which has a valid title documentation. Equity contribution of 20% for salary earners and 30% for self-employed