Mortgage Calculator
Calculate your monthly payments and see how much home you can afford in Nigeria
Loan Details
₦50,000,000
10%₦050%
12%28%
5 years30 years
Monthly Payment
₦0
Principal & Interest • 20 years • 18% interest
Loan Amount
₦0
Down Payment (20%)
₦0
Total Interest Paid
₦0
Total Amount Paid
₦0
Over 20 years (240 payments)
Additional Costs to Consider
- •Legal fees & property perfection charges (1-3% of property value)
- •Mortgage Protection Insurance
- •Fire & Special Peril Insurance
- •Valuation & Processing fees
Understanding Mortgages in Nigeria
Standard Mortgages
Traditional home loans from Primary Mortgage Banks with interest rates typically ranging from 15-25%.
- • 20-30% down payment required
- • 5-30 year loan terms
- • Fixed or adjustable rates
NHF Loans
National Housing Fund mortgages offer lower rates (6-9%) for contributors to the NHF scheme.
- • Must contribute 2.5% of salary
- • Lower interest rates
- • Up to 30 years repayment
Getting Approved
Requirements for mortgage approval in Nigeria typically include:
- • Verifiable income (6-12 months)
- • Good credit history
- • Valid property documentation