Having a house in any part of the country provides emotional security.
Additionally, it also helps you in having financial security.
In Nigeria having your own home is a visible sign of success. It’s not easy to live in a rented apartment. Most especially, living in a metro- cities in Nigeria, like Abuja, porthacout, and Lagos. House rents in these areas are very high.
Importance of owning a house.
- Living in your own house enables you to have a steady income.
Additionally, it helps you in saving money you would have otherwise been paying landlords. for rent and using that money for something else.
- First, having your own house is a source of investment. It is always appreciating. Unlike having a car that will depreciate with time.
- Second, living in your house makes you have control of the things you do in it. You can choose to redecorate, modify or even renovate the whole building. You are at liberty to do whatever you want without answering anybody.
- Finally, another advantage of owning a home is it helps you have sustainability. You do not need to move from one house to the other. Living in the same house allows you to have an emotional investment in the neighborhood.
8 Best Housing Loan Providers In Nigeria.
We have previously established why having a house in Nigeria is important.
In this article, we will be talking about eight of the best Housing loan providers in Nigeria.
What are loan providers?
A loan provider is any establishment that offers money to individuals or an organization.
for a specific period and expects interest to the paid.
Different types of loans in Nigeria.
In Nigeria, the two types of loan we have are:
1. The secured loan:
In order, to access this type of loan, you will need to have assets also called collateral.
If the borrower fails to pay the loan collected, the lender will have every right to take over the collateral.
2. The unsecured loan:
The interest rate on an unsecured loan is higher than. That on the secured loan.
8 Best Housing Loan Providers In Nigeria.
Many housing loan providers have differences in their rates, conditions, and guarantees.
This is why it is important to know the different kinds of housing loan providers and make the best decision.
Below, are the 8 best housing loan providers in Nigeria.
1. May fresh Mortage Bank Ltd:
May Fresh Mortage Bank Ltd is a private company. It is incorporated in Nigeria on 23 1993. It has #5billion as share capital, paid-up capital of #3.64 billion, and shareholder’s funds of #6.62 billion, on December 31st, 2016.
May Fresh Mortage offers the following services:
- They offer a Gold home savings account.
- Diamond homeownership account.
- Platinum housing ownership savings.
- Silver Mortage account
- Savings Extra Accounts with cheques.
- Target account promo
- Top cooperative ownership account.
2. Aso Savings and loans plc:
It is a primary mortgage institution.
Additionally, it is incorporated in Nigeria as a liability company on 9th November 1995.
Aso Savings and Loan PLC is regulated by the central bank of Nigeria to carry out mortgage banking in Nigeria.
Furthermore, Aso savings is also offering the following home finance solutions.
- My Business Mortgage
- My Residential Mortgage
- National Housing Funds.
- My house purchase program
3. Imperial Home Mortgage bank limited:
Imperial home mortgage bank limited is a mortgage bank that is licensed by the CBN.
Equally important, is providing cutting-edge services in the mortgage and housing sector within the financial service industry.
Imperial Home Mortgage bank offers the following services:
- Savings and deposits
- Real Estates
- Loan and Advances.
4. Abbey Mortgage Bank:
Also, Abbey mortgage bank is a leading primary mortgage bank in Nigeria.
Additionally, It has not less than 26 years of experience, their office is located in Lagos.
Their services include:
- Personal savings and investments.
- Electronic banking
- Fund managements
- Real estate financing
- Certificate of deposits.
5. Trust bond Mortgage bank:
Trust bond mortgage bank is licensed by the CBN offering loans for housing in Nigeria.
A contributor is eligible to enjoy a maximum of #15 million loans that are payable in 30years.
Thus, to access the loan you need to
- Open a savings account.
- Contribute to the funds for at least six months.
- Submit a photocopy of valid documents.
- Offer letter.
6. SunTrust Mortgage Bank:
Equally important, is the SunTrust Mortgage Bank. It is a privately held commercial bank.
It was founded in 2009 by Muhammad
Jibrin Barde. They offer a variety of loan products to customers across the economic threshold.
7. Jubilee-Life Mortgage Bank:
Similarly, Jubilee Life Mortgage Bank is a leading primary mortgage bank in Nigeria. It has since evolved into a mortgage bank with a global outlook since its inception.
Its activities have extended beyond the shores of Nigeria.
8. Haggai Mortgage Bank:
Finally, Haggai Mortgage Bank is also licensed by the central bank of Nigeria to carry out mortgage banking services.
Furthermore, its focus is on the provision of tailor-made and specialized banking services to a wide range of customers, with products designed to meet the specific needs of our customers.