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    Our objective is to bring Nigerians Affordable Housing.

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    NMRC has =N=13.19 Billion Tier 1 Capital

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    NMRC Partners ITF To Empower 30 Persons with Vocational Skills in Housing Construction & Entrepreneurship

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    December 12, 2022

    GCR affirms NMRC’s Ratings, Stable Outlook

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    November 18, 2022

    NMRC Hosts Day 2 of NIPROTECH 2022 – To Provide Incubation Opportunities for PropTech Startups in Nigeria.

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    NMRC Mortgage Digest 20th Edition: June 2022

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    Annual percentage rate, or APR, is a way of measuring the full…
    • May 9, 2022 7:52 pm·

    Important Mortgage Terms to Know

    NMRC’s mortgage refinancing operations have enhanced access to affordable homeownership through the…
    • April 14, 2022 1:21 pm·

    Four Tips on Determining the House You Can Afford

    A simple way to understand a mortgage is that it enables you…
    • March 30, 2022 10:41 am·

    Top Five Reasons to Get a Mortgage Loan

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Our objectives is to bring Nigerians Affordable Housing

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INTRODUCTION

In the past seven years, we have supported mortgage lending institutions with access to long term housing finance and partnered with key stakeholders in the housing industry such as the CBN, MBAN, REDAN, FMBN, and NDIC to increase access to affordable homeownership for Nigerians.

Here is a smart guide that you can follow to own your home.

STEP ONE: EVALUATE YOUR FINANCES

The first step is to evaluate your finances. Before you start shopping for a home, you must assess your income level to know the price range of the house that you can afford and your ability to conveniently and sustainably pay the mortgage.

In simple terms, what you earn, how much of it you spend, and how much you have saved will help you determine if you are financially ready for homeownership.

STEP TWO: STAY FOCUSED ON YOUR GOAL

After you’ve evaluated your finances, you’ll see where there is room for improvement. This will help you work harder to build up the money required for your equity contribution and other charges that will come up.

Bottom line, if you are trying to save money, work on reducing optional expenses and set up a monthly standing order as a means of ensuring savings into your account.

STEP THREE: APPROACH A BANK

From evaluating your finances, making a commitment to stay focused and saving to own your own home, the next step is to engage your bank and get information on the requirements to obtain a mortgage and how to meet the eligibility criteria. NMRC Refinance-able mortgages are available nationwide through any of our underlisted partner institutions and from Any Central Bank of Nigeria Approved Commercial or Mortgage Bank.

  1. Abbey Mortgage Bank
  2. Access Bank Plc
  3. Brent Mortgage Bank
  4. Delta State Trust Mortgage Bank
  5. FirstTrust Mortgage Bank
  6. Haggai Mortgage Bank Ltd
  7. Infinity Homes
  8. Stanbic IBTC
  9. Nigeria Police Mortgage Bank Plc
  10. Resort Savings & Loans
  11. Gateway Mortgage Bank Limited
  12. Heritage Bank
  13. Imperial Homes Mortgage Bank
  14. LivingTrust Mortgage Bank
  15. Mayfresh Savings and Loans
  16. Platinum Mortgage Bank
  17. Sterling Bank
  18. FHA Mortgage Bank Ltd
  19. HomeBase Mortgage Bank
  20. Jubilee Life Mortgage Bank
  21. Lagos Building Investment Company Plc
  22. New Prudential Building Society
  23. Refuge Home Savings & Loans
STEP FOUR: SEARCH FOR A HOUSE

After identifying, engaging and receiving sound advice from our partner bank on your eligibility, including the loan amount you can be granted based on your income/profile, it is now time to start a search for your home

Look for a house that falls within the amount that you have been prequalified for, and that meets the Bank’s lending criteria. Check the property title (papers) through a formal search at the relevant land registry using the services of a Lawyer.

STEP FIVE: ASK FOR NMRC REFINANCING

Ask your bank if your mortgage loan qualifies for NMRC refinancing. Refinancing your mortgage loan will increase its tenor to as much as 20 years and also significantly reduce your expected monthly principal and interest repayments.

STEP SIX: APPLY FOR A MORTGAGE

Having evaluated your finances, identified a home that you can afford and established that your loan could qualify for NMRC refinancing, it is now time to apply for a mortgage from our partner banks. Required documents may include copies of your tax returns, pay slips, bank and asset statements, ID and credit report.

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Nigeria Mortgage Refinance Company

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Lagos Office

17 Sanusi Fafunwa, Victoria Island, Lagos.
+234 908 762 8273

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BLOCKCHAIN-POWERED SYSTEM FOR RELIABLE LAND TITLING

NMRC has also tapped blockchain technology’s capacity for tamper-proof record keeping, to build a robust national asset registry system for driving real estate transactions.
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