Mortgages & NHF Loans
Qualifying for a mortgage or NHF loan, interest rates, tenors and repayments.
3 questions
Giddaa’s licensed advisers answer questions from Nigerian and diaspora buyers of homes in Nigeria. Each answer names the adviser, the review date and the sources. We check every answer every 3 months.
Reviewed by industry practitioners and Giddaa’s advisory team · 10 answers · Last reviewed
Pick a topic to see every question our experts have answered about it.
Qualifying for a mortgage or NHF loan, interest rates, tenors and repayments.
Developer instalment plans, rent-to-own terms and what happens if you miss a payment.
C of O, Governor's Consent, deeds of assignment, survey plans and verifying a title.
Inspections, offers, deposits and the steps from first viewing to handover.
Legal fees, agency fees, stamp duty, consent fees and other costs beyond the price.
Buying a home in Nigeria while living outside the country.
The questions Nigerian home buyers ask us most, ranked by how many readers found the answer helpful.
Check the structure, roof, plumbing and electrics, and how the area drains when it rains. Confirm the access road, water supply and power situation, and make sure the unit matches the plan and finishes in your contract.
Yes. Many buyers abroad buy through a developer's payment plan or a mortgage designed for Nigerians in the diaspora. Use a lawyer you appoint yourself, verify the title independently, and ask someone you trust to inspect the property in person before you pay.
Expect legal fees, agency fees, survey and documentation charges, Governor's Consent fees and stamp duty. Together these commonly add 10% to 15% to the price. Ask the seller for a written breakdown of every fee before you commit.
Run a search at the Abuja Geographic Information Systems office using the title number, and confirm the name on the record matches the seller. Ask a lawyer to review the documents and check for any government acquisition or dispute before you pay anything.
Yes. The developer's Certificate of Occupancy covers the whole estate. When you buy a unit, you receive a deed of assignment, and Governor's Consent is what registers that transfer to you. Without it, your ownership is not fully protected.
Usually not. Rent-to-own is easier to start because it needs little or no deposit, but the total paid over the term is often higher than a mortgage on the same home. Compare the full amount you will have paid at the end of each option.
It depends on the contract. Most developers allow a short grace period, then charge a late fee, and repeated defaults can lead to the unit being reallocated with part of your payments refunded. Read the default clause before you sign and keep proof of every payment.
Most banks ask for a deposit of 20% to 30% of the property price, while NHF mortgages can go lower for qualifying contributors. The exact figure depends on the lender, your income and the property, so get a pre-qualification before you commit to a home.
Yes. Once you have contributed to the National Housing Fund for at least six months, you can apply for an NHF mortgage through a primary mortgage bank. The home must be within your repayment capacity, and the loan is repaid monthly from your salary over a long tenor.
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