MORFI Real Estate Investment Fund (MREIF) Plan

Purchase option for 2 bedroom apartment for sale in Lekki, Lagos 2 Bedroom Apartment in Mushin, Lagos

Please note: although this property is listed, the seller’s authority to transfer title is unconfirmed. Verification occurs when buyers indicate purchase interest, ensuring protection of their interests.

Details

Important details about the MORFI Real Estate Investment Fund (MREIF) Plan

Interest Rate: 9.75% per annum
Finishing Levels: 1
Monthly Payment: ₦45,528.82
Minimum Down Payment: 20%
Payment Period: 20 years
Maximum Loan Amount: ₦100,000,000
Closing Costs: Legal, Insurance, Professional Fees.
Joint applications and co-owners allowed?: Yes

Repayment Schedule

Repayment Schedule for the payment of MORFI Real Estate Investment Fund (MREIF) Plan

Total Interest: ₦4.70M
Total Principal: ₦4.80M
Total Payable (total principal payment + total interest payment): ₦9.50M
Payment Period: 20 years240 months

Month 1

October 19th, 2026

Principal payment: ₦20,000
Interest payment: ₦39,000.01
Monthly repayment: ₦59,000.01
Remaining balance: ₦4,780,000.80

Month 2

November 19th, 2026

Principal payment: ₦20,000
Interest payment: ₦38,837.51
Monthly repayment: ₦58,837.51
Remaining balance: ₦4,760,000.79

Month 3

December 19th, 2026

Principal payment: ₦20,000
Interest payment: ₦38,675.01
Monthly repayment: ₦58,675.01
Remaining balance: ₦4,740,000.79

Month 4

January 19th, 2027

Principal payment: ₦20,000
Interest payment: ₦38,512.51
Monthly repayment: ₦58,512.51
Remaining balance: ₦4,720,000.79

Month 5

February 19th, 2027

Principal payment: ₦20,000
Interest payment: ₦38,350.01
Monthly repayment: ₦58,350.01
Remaining balance: ₦4,700,000.78

Month 6

March 19th, 2027

Principal payment: ₦20,000
Interest payment: ₦38,187.51
Monthly repayment: ₦58,187.51
Remaining balance: ₦4,680,000.78

Month 7

April 19th, 2027

Principal payment: ₦20,000
Interest payment: ₦38,025.01
Monthly repayment: ₦58,025.01
Remaining balance: ₦4,660,000.78

Month 8

May 19th, 2027

Principal payment: ₦20,000
Interest payment: ₦37,862.51
Monthly repayment: ₦57,862.51
Remaining balance: ₦4,640,000.77

Month 9

June 19th, 2027

Principal payment: ₦20,000
Interest payment: ₦37,700.01
Monthly repayment: ₦57,700.01
Remaining balance: ₦4,620,000.77

Month 10

July 19th, 2027

Principal payment: ₦20,000
Interest payment: ₦37,537.51
Monthly repayment: ₦57,537.51
Remaining balance: ₦4,600,000.77

Month 11

August 19th, 2027

Principal payment: ₦20,000
Interest payment: ₦37,375.01
Monthly repayment: ₦57,375.01
Remaining balance: ₦4,580,000.76

Month 12

September 19th, 2027

Principal payment: ₦20,000
Interest payment: ₦37,212.51
Monthly repayment: ₦57,212.51
Remaining balance: ₦4,560,000.76

S/N	Month	Monthly Principal Payment	Monthly Interest Payment	Monthly Repayment	Remaining Balance
1	October 19th, 2026	₦20,000	₦39,000.01	₦59,000.01	₦4,780,000.80
2	November 19th, 2026	₦20,000	₦38,837.51	₦58,837.51	₦4,760,000.79
3	December 19th, 2026	₦20,000	₦38,675.01	₦58,675.01	₦4,740,000.79
4	January 19th, 2027	₦20,000	₦38,512.51	₦58,512.51	₦4,720,000.79
5	February 19th, 2027	₦20,000	₦38,350.01	₦58,350.01	₦4,700,000.78
6	March 19th, 2027	₦20,000	₦38,187.51	₦58,187.51	₦4,680,000.78
7	April 19th, 2027	₦20,000	₦38,025.01	₦58,025.01	₦4,660,000.78
8	May 19th, 2027	₦20,000	₦37,862.51	₦57,862.51	₦4,640,000.77
9	June 19th, 2027	₦20,000	₦37,700.01	₦57,700.01	₦4,620,000.77
10	July 19th, 2027	₦20,000	₦37,537.51	₦57,537.51	₦4,600,000.77
11	August 19th, 2027	₦20,000	₦37,375.01	₦57,375.01	₦4,580,000.76
12	September 19th, 2027	₦20,000	₦37,212.51	₦57,212.51	₦4,560,000.76
13	October 19th, 2027	₦20,000	₦37,050.01	₦57,050.01	₦4,540,000.76
14	November 19th, 2027	₦20,000	₦36,887.51	₦56,887.51	₦4,520,000.75
15	December 19th, 2027	₦20,000	₦36,725.01	₦56,725.01	₦4,500,000.75
16	January 19th, 2028	₦20,000	₦36,562.51	₦56,562.51	₦4,480,000.75
17	February 19th, 2028	₦20,000	₦36,400.01	₦56,400.01	₦4,460,000.74
18	March 19th, 2028	₦20,000	₦36,237.51	₦56,237.51	₦4,440,000.74
19	April 19th, 2028	₦20,000	₦36,075.01	₦56,075.01	₦4,420,000.74
20	May 19th, 2028	₦20,000	₦35,912.51	₦55,912.51	₦4,400,000.73
21	June 19th, 2028	₦20,000	₦35,750.01	₦55,750.01	₦4,380,000.73
22	July 19th, 2028	₦20,000	₦35,587.51	₦55,587.51	₦4,360,000.73
23	August 19th, 2028	₦20,000	₦35,425.01	₦55,425.01	₦4,340,000.72
24	September 19th, 2028	₦20,000	₦35,262.51	₦55,262.51	₦4,320,000.72

Estimated Closing & Transaction Costs

Everything it takes to close on this house with the MORFI Real Estate Investment Fund (MREIF) Plan. It covers who you pay, whether it is required, and what it adds up to.

Estimated total closing costs for the Fully Completed (Not Furnished) · MORFI Real Estate Investment Fund (MREIF) Plan

₦1,125,200 - ₦1,199,600

18.8% - 20.0% of the ₦6,000,001 house price, on top of your initial deposit. Ranges show where a fee varies by bank, lawyer or seller.

Paid to Bank
₦885,200 - ₦959,600
7 fees · 14.8% - 16.0%
Paid to Brokerage
₦240,000
1 fee · 4.0%

Account Maintenance
Required
Account Maintenance of the account
₦50,000
Fixed
Advisory Fee
Required
Advisory Fee for which loan to take
₦24,000 - ₦48,000
0.5% - 1% of loan amount
Processing Fee
Required
Processing Fee for processing the house
₦240,000
4% of house price
Legal Search
Required
Legal Search
₦24,000 - ₦60,000
Varies
Credit Search
Required
Credit Search
₦19,200 - ₦33,600
0.4% - 0.7% of loan amount
Management Fee
Required
Management Fee
₦48,000
1% of loan amount
Land Registry Assessment and Registration
Required
Land Registry Assessment And Registration
₦480,000
8% of house price

Subtotal — BankSubtotal, paid to bank₦885,200 - ₦959,600

Giddaa Professional Fee
Required
Giddaa Professional Fee
₦240,000
4% of house price

Subtotal — BrokerageSubtotal, paid to brokerage₦240,000

Estimated Total Closing Costs

₦1,125,200 - ₦1,199,600

Excludes your initial deposit of ₦1,200,000 and your monthly repayments.

18.8% - 20.0% of the house price

Total cost to buy this home with the MORFI Real Estate Investment Fund (MREIF) Plan (price + closing costs): ₦7,125,201 - ₦7,199,601

These are estimates from general transactions handled on Giddaa, not a quote

Unless a fee says otherwise, percentage fees are applied to the ₦6,000,001 house price. The banks, lawyers and the sellers (developer or individual) confirm the exact figures at offer-letter stage, and some costs can be negotiated. However, you should prepare with this in mind as they are more accurate than not.

Finishing Levels

These are the different levels of finishing which the 2 bedroom apartment for sale in Lekki, Lagos can be purchased using the MORFI Real Estate Investment Fund (MREIF) Plan and the various prices on each finishing level.

Fully Completed (Not Furnished)

Price: ₦6,000,001
Minimum Initial Deposit: 20% (₦1,200,000.20)
Monthly Payment: ₦45,528.82
Payment Period: 20 years

How it works

How the MORFI Real Estate Investment Fund (MREIF) Plan works on Giddaa

Step 1
Find Home
Choose a house available on the Giddaa platform under the MREIF plan that meets your needs.
Performed by You with support from Giddaa
Step 2
Submit Documents
Submit your documents to Giddaa for prequalification to confirm your eligibility for the MREIF loan.
Performed by You
Step 3
Loan Processing
If you pass prequalification, Giddaa forwards your application to a financial institution, which processes the loan and secures approval from the Ministry of Finance Incorporated (MOFI) before disbursing funds to the developer.
Performed by Giddaa
Step 4
Get Keys, Repay
You receive your keys, move in, and start repaying monthly through the Giddaa platform with full tracking, reminders, and a wallet for easy payments.
Performed by You

Your Affordability

Your affordability for the MORFI Real Estate Investment Fund (MREIF) Plan

Log in to check your affordability

We’ll compare this plan’s monthly payment with your income details and show you a clear estimate.

Application Documents

The documents you need to submit when applying for MORFI Real Estate Investment Fund (MREIF) Plan

No documents found

This plan does not require any documents.

Buy the 2 Bed Apartment in Mushin Lagos with the MORFI Real Estate Investment Fund (MREIF) Plan. | Giddaa

MORFI Real Estate Investment Fund (MREIF) Plan

Purchase option for 2 bedroom apartment for sale in Lekki, Lagos 2 Bedroom Apartment in Mushin, Lagos

Details

Important details about the MORFI Real Estate Investment Fund (MREIF) Plan

Interest Rate: 9.75% per annum
Finishing Levels: 1
Monthly Payment: ₦45,528.82
Minimum Down Payment: 20%
Payment Period: 20 years
Maximum Loan Amount: ₦100,000,000
Closing Costs: Legal, Insurance, Professional Fees.
Joint applications and co-owners allowed?: Yes

Repayment Schedule

Repayment Schedule for the payment of MORFI Real Estate Investment Fund (MREIF) Plan

Total Interest: ₦4.70M
Total Principal: ₦4.80M
Total Payable (total principal payment + total interest payment): ₦9.50M
Payment Period: 20 years240 months

Month 1

October 19th, 2026

Principal payment: ₦20,000
Interest payment: ₦39,000.01
Monthly repayment: ₦59,000.01
Remaining balance: ₦4,780,000.80

Month 2

November 19th, 2026

Principal payment: ₦20,000
Interest payment: ₦38,837.51
Monthly repayment: ₦58,837.51
Remaining balance: ₦4,760,000.79

Month 3

December 19th, 2026

Principal payment: ₦20,000
Interest payment: ₦38,675.01
Monthly repayment: ₦58,675.01
Remaining balance: ₦4,740,000.79

Month 4

January 19th, 2027

Principal payment: ₦20,000
Interest payment: ₦38,512.51
Monthly repayment: ₦58,512.51
Remaining balance: ₦4,720,000.79

Month 5

February 19th, 2027

Principal payment: ₦20,000
Interest payment: ₦38,350.01
Monthly repayment: ₦58,350.01
Remaining balance: ₦4,700,000.78

Month 6

March 19th, 2027

Principal payment: ₦20,000
Interest payment: ₦38,187.51
Monthly repayment: ₦58,187.51
Remaining balance: ₦4,680,000.78

Month 7

April 19th, 2027

Principal payment: ₦20,000
Interest payment: ₦38,025.01
Monthly repayment: ₦58,025.01
Remaining balance: ₦4,660,000.78

Month 8

May 19th, 2027

Principal payment: ₦20,000
Interest payment: ₦37,862.51
Monthly repayment: ₦57,862.51
Remaining balance: ₦4,640,000.77

Month 9

June 19th, 2027

Principal payment: ₦20,000
Interest payment: ₦37,700.01
Monthly repayment: ₦57,700.01
Remaining balance: ₦4,620,000.77

Month 10

July 19th, 2027

Principal payment: ₦20,000
Interest payment: ₦37,537.51
Monthly repayment: ₦57,537.51
Remaining balance: ₦4,600,000.77

Month 11

August 19th, 2027

Principal payment: ₦20,000
Interest payment: ₦37,375.01
Monthly repayment: ₦57,375.01
Remaining balance: ₦4,580,000.76

Month 12

September 19th, 2027

Principal payment: ₦20,000
Interest payment: ₦37,212.51
Monthly repayment: ₦57,212.51
Remaining balance: ₦4,560,000.76

S/N	Month	Monthly Principal Payment	Monthly Interest Payment	Monthly Repayment	Remaining Balance
1	October 19th, 2026	₦20,000	₦39,000.01	₦59,000.01	₦4,780,000.80
2	November 19th, 2026	₦20,000	₦38,837.51	₦58,837.51	₦4,760,000.79
3	December 19th, 2026	₦20,000	₦38,675.01	₦58,675.01	₦4,740,000.79
4	January 19th, 2027	₦20,000	₦38,512.51	₦58,512.51	₦4,720,000.79
5	February 19th, 2027	₦20,000	₦38,350.01	₦58,350.01	₦4,700,000.78
6	March 19th, 2027	₦20,000	₦38,187.51	₦58,187.51	₦4,680,000.78
7	April 19th, 2027	₦20,000	₦38,025.01	₦58,025.01	₦4,660,000.78
8	May 19th, 2027	₦20,000	₦37,862.51	₦57,862.51	₦4,640,000.77
9	June 19th, 2027	₦20,000	₦37,700.01	₦57,700.01	₦4,620,000.77
10	July 19th, 2027	₦20,000	₦37,537.51	₦57,537.51	₦4,600,000.77
11	August 19th, 2027	₦20,000	₦37,375.01	₦57,375.01	₦4,580,000.76
12	September 19th, 2027	₦20,000	₦37,212.51	₦57,212.51	₦4,560,000.76
13	October 19th, 2027	₦20,000	₦37,050.01	₦57,050.01	₦4,540,000.76
14	November 19th, 2027	₦20,000	₦36,887.51	₦56,887.51	₦4,520,000.75
15	December 19th, 2027	₦20,000	₦36,725.01	₦56,725.01	₦4,500,000.75
16	January 19th, 2028	₦20,000	₦36,562.51	₦56,562.51	₦4,480,000.75
17	February 19th, 2028	₦20,000	₦36,400.01	₦56,400.01	₦4,460,000.74
18	March 19th, 2028	₦20,000	₦36,237.51	₦56,237.51	₦4,440,000.74
19	April 19th, 2028	₦20,000	₦36,075.01	₦56,075.01	₦4,420,000.74
20	May 19th, 2028	₦20,000	₦35,912.51	₦55,912.51	₦4,400,000.73
21	June 19th, 2028	₦20,000	₦35,750.01	₦55,750.01	₦4,380,000.73
22	July 19th, 2028	₦20,000	₦35,587.51	₦55,587.51	₦4,360,000.73
23	August 19th, 2028	₦20,000	₦35,425.01	₦55,425.01	₦4,340,000.72
24	September 19th, 2028	₦20,000	₦35,262.51	₦55,262.51	₦4,320,000.72

Estimated Closing & Transaction Costs

Everything it takes to close on this house with the MORFI Real Estate Investment Fund (MREIF) Plan. It covers who you pay, whether it is required, and what it adds up to.

Estimated total closing costs for the Fully Completed (Not Furnished) · MORFI Real Estate Investment Fund (MREIF) Plan

₦1,125,200 - ₦1,199,600

18.8% - 20.0% of the ₦6,000,001 house price, on top of your initial deposit. Ranges show where a fee varies by bank, lawyer or seller.

Paid to Bank
₦885,200 - ₦959,600
7 fees · 14.8% - 16.0%
Paid to Brokerage
₦240,000
1 fee · 4.0%

Account Maintenance
Required
Account Maintenance of the account
₦50,000
Fixed
Advisory Fee
Required
Advisory Fee for which loan to take
₦24,000 - ₦48,000
0.5% - 1% of loan amount
Processing Fee
Required
Processing Fee for processing the house
₦240,000
4% of house price
Legal Search
Required
Legal Search
₦24,000 - ₦60,000
Varies
Credit Search
Required
Credit Search
₦19,200 - ₦33,600
0.4% - 0.7% of loan amount
Management Fee
Required
Management Fee
₦48,000
1% of loan amount
Land Registry Assessment and Registration
Required
Land Registry Assessment And Registration
₦480,000
8% of house price

Subtotal — BankSubtotal, paid to bank₦885,200 - ₦959,600

Giddaa Professional Fee
Required
Giddaa Professional Fee
₦240,000
4% of house price

Subtotal — BrokerageSubtotal, paid to brokerage₦240,000

Estimated Total Closing Costs

₦1,125,200 - ₦1,199,600

Excludes your initial deposit of ₦1,200,000 and your monthly repayments.

18.8% - 20.0% of the house price

Total cost to buy this home with the MORFI Real Estate Investment Fund (MREIF) Plan (price + closing costs): ₦7,125,201 - ₦7,199,601

These are estimates from general transactions handled on Giddaa, not a quote

Finishing Levels

Fully Completed (Not Furnished)

Price: ₦6,000,001
Minimum Initial Deposit: 20% (₦1,200,000.20)
Monthly Payment: ₦45,528.82
Payment Period: 20 years

How it works

How the MORFI Real Estate Investment Fund (MREIF) Plan works on Giddaa

Step 1
Find Home
Choose a house available on the Giddaa platform under the MREIF plan that meets your needs.
Performed by You with support from Giddaa
Step 2
Submit Documents
Submit your documents to Giddaa for prequalification to confirm your eligibility for the MREIF loan.
Performed by You
Step 3
Loan Processing
If you pass prequalification, Giddaa forwards your application to a financial institution, which processes the loan and secures approval from the Ministry of Finance Incorporated (MOFI) before disbursing funds to the developer.
Performed by Giddaa
Step 4
Get Keys, Repay
You receive your keys, move in, and start repaying monthly through the Giddaa platform with full tracking, reminders, and a wallet for easy payments.
Performed by You

Your Affordability

Your affordability for the MORFI Real Estate Investment Fund (MREIF) Plan

Log in to check your affordability

We’ll compare this plan’s monthly payment with your income details and show you a clear estimate.

Application Documents

The documents you need to submit when applying for MORFI Real Estate Investment Fund (MREIF) Plan

No documents found

This plan does not require any documents.

Details

Repayment Schedule

Month 1

Month 2

Month 3

Month 4

Month 5

Month 6

Month 7

Month 8

Month 9

Month 10

Month 11

Month 12

Estimated Closing & Transaction Costs

Bank & Financing Fees

Brokerage & Legal Fees

Estimated Total Closing Costs

Finishing Levels

Fully Completed (Not Furnished)

How it works

Find Home

Submit Documents

Loan Processing

Get Keys, Repay

Your Affordability

Log in to check your affordability

Application Documents

Details

Repayment Schedule

Month 1

Month 2

Month 3

Month 4

Month 5

Month 6

Month 7

Month 8

Month 9

Month 10

Month 11

Month 12

Estimated Closing & Transaction Costs

Bank & Financing Fees

Brokerage & Legal Fees

Estimated Total Closing Costs

Finishing Levels

Fully Completed (Not Furnished)

How it works

Find Home

Submit Documents

Loan Processing

Get Keys, Repay

Your Affordability

Log in to check your affordability

Application Documents