Ever thought of owning your own home?

Have you ever imagined coming home to a house that is totally yours?

Do you know there is a fail-proof way of moving from rent to home ownership?

The answer is Mortgage. Yes! Mortgage.

A mortgage is a loan an individual gets from a bank or other financial institutions in order to purchase a land/house, build or renovate an existing house. Mortgage in Nigeria has a maximum tenure (repayment period) of 30 years.

Why Mortgage?
The National Housing Fund (establishment) Act 2018, passed into law on February 18, 2019 mandates every adult Nigerian in public, private or self employment who earns up to minimum wage to contribute 2.5% of their earnings (aside tax) to the National Housing Fund (NHF) scheme under the Federal Mortgage Bank. The funds are accessible to contributors who have been consistent for up to 6 months at a 6% interest rate, to enable them buy, build or renovate existing properties. The Act also details grievous consequences for defaulters.
Most workers in the public and organized private sectors have their NHF contributions automatically deducted before tax. Those who do not access the NHF loan are eligible to receive back all their contributions at a 2% interest rate at their retirement period or say after 35 years. The problem with having to wait this long is that capital erosion caused by the devaluation of the Naira due to inflation and unstable exchange rates would have made this hard labour a waste of good years.
As you have learnt, a mortgage makes home ownership affordable, especially, one you have contributed to. It is to your own good to take advantage of the NHF mortgage provisions now, which is a sure way to own your own home. The NHF loan also has provisions for early repayment, and a monthly or annual repayment amount that is not more 1/3 (one third) of your earning.

PRE-QUALIFICATION
Access to mortgage in Nigeria can either be through the Federal Mortgage Bank or Commercial Mortgage Banks. However, it is preceded by a Pre-qualification or Affordability test.

This is a test that determines how much loan an individual is qualified to receive from either of the above lenders, the available tenure of the loan and the necessary monthly/annual repayment amount, based on the individual’s income. This test is easily facilitated by mortgage brokers at rates ranging from N10,000 to N15,000.

The fastest and cheapest way to get a pre-qualification/affordability test in Nigeria presently is through https://app.firsthome.ng owned by First Home Mortgage Brokers.

Mortgage brokers stand as middle men between mortgage banks and the individuals seeking mortgage loans. The services they offer include; Conducting Pre-qualification/Affordability tests, gathering and pre-processing of documents required for mortgage application, application and client representation, advisory and property consultations, etc.

Considering that mortgage is still in it's infancy stage in Nigeria, it is advisable to seek support FirstHomeNG, which is Nigeria’s foremost mortgage brokerage company that combines technology and years of expertise in the industry to deliver you a fast, easy and secured way to accessing a mortgage.

FirstHomeNg has a vision of 10 million Personal Housing for Nigerians by 2026, through the 10MPH initiative. A part of this they have started achieving is the digitization of the mortgage pre-qualification and application process.

At the little cost of only N1,500 ( as against other mortgage brokers who charge up to N15,000 with up to 48 hours waiting time) you can both take your pre-qualification or affordability test online and have the result automatically delivered to your email address, and also start your mortgage application document pre-processing. Firsthome.ng automates and cut cost through use of digital technologies.

Read more about firsthome.ng as published on newspapers:
https://www.vanguardngr.com/2020/06/fmb-launches-home-ownership-app/
https://businessday.ng/companies/article/fmb-launches-home-ownership-app/
https://thenationonlineng.net/app-to-support-mortgage-applicants-unveiled/

Looking forward to you owning your own home this year!

This is very good and interesting if only it could be true, I tried registering but I had to stop at the point of payments, my fear is why paying for registering...,

ZhyonKross:
This is very good and interesting if only it could be true, I tried registering but I had to stop at the point of payments, my fear is why paying for registering...,

You pay for pre-qualification, advisory and support towards application for funds.

Several other mortgage organisations charge up to N15,000 for this after going through the stress spending time, money and energy of visiting their office. And they might provide you result within a delivery time of 48 hours.

But www.firsthome.ng delivers same service to you at a token of N1,500 within seconds leveraging their automated digital platform.

davedisruptive:


You pay for pre-qualification, advisory and support towards application for funds.

Several other mortgage organisations charge up to N15,000 for this after going through the stress spending time, money and energy of visiting their office. And they might provide you result within a delivery time of 48 hours.

But www.firsthome.ng delivers same service to you at a token of N1,500 within seconds leveraging their automated digital platform.

it's ok please can you drop a phone number I'm really interested in this...