Enter your property details below to calculate your estimated monthly mortgage repayment and total loan cost.
Total purchase price of the property
20.0% of property price
Typical Nigerian mortgage rates: 15–25% p.a.
Most Nigerian lenders offer up to 20–25 years
Monthly Repayment
Monthly Payment
₦257,667
Principal vs Interest
Estimates only. Actual repayments depend on your lender's terms and conditions. Speak to a qualified mortgage adviser for personalised advice.
Nigerian mortgage rates typically range from 15% to 25% per annum depending on the lender and loan type. Federal Mortgage Bank of Nigeria (FMBN) offers lower rates (around 6-9%) for eligible civil servants and NHF contributors, while commercial banks generally charge higher rates.
Most Nigerian lenders require a minimum down payment of 20% to 30% of the property value. First-time buyers using NHF (National Housing Fund) contributions may access mortgages with lower deposit requirements.
Nigerian mortgage terms typically range from 5 to 25 years, with most commercial banks capping at 20 years. FMBN loans can go up to 30 years for qualifying borrowers.
It is possible but challenging. Some Nigerian banks and development finance institutions offer mortgage products to diaspora Nigerians and non-residents, though terms and eligibility criteria vary significantly.
Beyond the mortgage repayments, budget for: legal fees (1-2% of purchase price), stamp duty (1.5%), estate agent commission (5-10% for sale, 10% of annual rent for lettings), property valuation fees, and insurance.
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