Mortgage Calculator Nigeria
Enter your property details below to calculate your estimated monthly mortgage repayment and total loan cost.
Loan Details
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
My mortgage on a ₦20,000,000 home would be ₦257,667 a month
Estimates only. Actual repayments depend on your lender's terms and conditions. Speak to a qualified mortgage adviser for personalised advice.
Mortgage FAQs — Nigeria
What mortgage interest rates are typical in Nigeria?
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.
How much deposit do I need for a mortgage in Nigeria?
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.
What is the maximum mortgage term in Nigeria?
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.
Can I get a mortgage in Nigeria as a non-resident?
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.
What other costs should I budget for when getting a mortgage in Nigeria?
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.
Budgeting for a purchase? Agent commission and legal fees typically add 8–15% on top of your mortgage — see our Estate Agent Fees in Nigeria guide for the full breakdown.
Popular Calculators
Free property calculators for buyers, renters, and investors in Nigeria.
Rent Affordability Calculator Nigeria
See how much rent you can comfortably afford on your income.
Rental Yield Calculator Nigeria
Calculate gross and net rental yield on your investment property.
Stamp Duty Calculator Nigeria
Estimate stamp duty and all fees when buying property in Nigeria.
Rent vs Buy Calculator Nigeria
Compare renting vs buying over time and find your break-even point.
Property Deposit Savings Calculator Nigeria
Find out how long it takes to save your home deposit.
Estate Agent Commission Calculator Nigeria
Break down agent fees and total costs for any property transaction.
Property Investment ROI Calculator Nigeria
Calculate total ROI on a rental property investment including appreciation.
Property Renovation Cost Estimator Nigeria
Get a cost estimate for renovating or refurbishing a property.
Looking for a property in Nigeria?
Browse thousands of verified listings — buy, rent, or invest with confidence.