MREIF Mortgage

Purchase option for 2 Bedroom Apartment 2 Bedroom Apartment in Surulere, Lagos

Please note: although this property is listed, the seller’s authority to transfer title is unconfirmed. Verification occurs when buyers indicate purchase interest, ensuring protection of their interests.

Details

Important details about the MREIF Mortgage

Interest Rate: 9.75% per annum
Finishing Levels: 1
Monthly Payment: ₦948,478.91
Minimum Down Payment: 16.67%
Payment Period: 1 year and 8 months
Maximum Loan Amount: ₦100,000,000
Closing Costs: Legal, Insurance, Professional Fees.
Joint applications and co-owners allowed?: Yes

Repayment Schedule

Repayment Schedule for the payment of MREIF Mortgage

Total Interest: ₦8.53M
Total Principal: ₦100M
Total Payable (total principal payment + total interest payment): ₦108.53M
Payment Period: 1 year and 8 months20 months

Month 1

September 21st, 2026

Principal payment: ₦4,999,800
Interest payment: ₦812,467.50
Monthly repayment: ₦5,812,267.50
Remaining balance: ₦94,996,200

Month 2

October 21st, 2026

Principal payment: ₦4,999,800
Interest payment: ₦771,844.13
Monthly repayment: ₦5,771,644.13
Remaining balance: ₦89,996,400

Month 3

November 21st, 2026

Principal payment: ₦4,999,800
Interest payment: ₦731,220.75
Monthly repayment: ₦5,731,020.75
Remaining balance: ₦84,996,600

Month 4

December 21st, 2026

Principal payment: ₦4,999,800
Interest payment: ₦690,597.38
Monthly repayment: ₦5,690,397.38
Remaining balance: ₦79,996,800

Month 5

January 21st, 2027

Principal payment: ₦4,999,800
Interest payment: ₦649,974
Monthly repayment: ₦5,649,774
Remaining balance: ₦74,997,000

Month 6

February 21st, 2027

Principal payment: ₦4,999,800
Interest payment: ₦609,350.63
Monthly repayment: ₦5,609,150.63
Remaining balance: ₦69,997,200

Month 7

March 21st, 2027

Principal payment: ₦4,999,800
Interest payment: ₦568,727.25
Monthly repayment: ₦5,568,527.25
Remaining balance: ₦64,997,400

Month 8

April 21st, 2027

Principal payment: ₦4,999,800
Interest payment: ₦528,103.88
Monthly repayment: ₦5,527,903.88
Remaining balance: ₦59,997,600

Month 9

May 21st, 2027

Principal payment: ₦4,999,800
Interest payment: ₦487,480.50
Monthly repayment: ₦5,487,280.50
Remaining balance: ₦54,997,800

Month 10

June 21st, 2027

Principal payment: ₦4,999,800
Interest payment: ₦446,857.13
Monthly repayment: ₦5,446,657.13
Remaining balance: ₦49,998,000

Month 11

July 21st, 2027

Principal payment: ₦4,999,800
Interest payment: ₦406,233.75
Monthly repayment: ₦5,406,033.75
Remaining balance: ₦44,998,200

Month 12

August 21st, 2027

Principal payment: ₦4,999,800
Interest payment: ₦365,610.38
Monthly repayment: ₦5,365,410.38
Remaining balance: ₦39,998,400

S/N	Month	Monthly Principal Payment	Monthly Interest Payment	Monthly Repayment	Remaining Balance
1	September 21st, 2026	₦4,999,800	₦812,467.50	₦5,812,267.50	₦94,996,200
2	October 21st, 2026	₦4,999,800	₦771,844.13	₦5,771,644.13	₦89,996,400
3	November 21st, 2026	₦4,999,800	₦731,220.75	₦5,731,020.75	₦84,996,600
4	December 21st, 2026	₦4,999,800	₦690,597.38	₦5,690,397.38	₦79,996,800
5	January 21st, 2027	₦4,999,800	₦649,974	₦5,649,774	₦74,997,000
6	February 21st, 2027	₦4,999,800	₦609,350.63	₦5,609,150.63	₦69,997,200
7	March 21st, 2027	₦4,999,800	₦568,727.25	₦5,568,527.25	₦64,997,400
8	April 21st, 2027	₦4,999,800	₦528,103.88	₦5,527,903.88	₦59,997,600
9	May 21st, 2027	₦4,999,800	₦487,480.50	₦5,487,280.50	₦54,997,800
10	June 21st, 2027	₦4,999,800	₦446,857.13	₦5,446,657.13	₦49,998,000
11	July 21st, 2027	₦4,999,800	₦406,233.75	₦5,406,033.75	₦44,998,200
12	August 21st, 2027	₦4,999,800	₦365,610.38	₦5,365,410.38	₦39,998,400
13	September 21st, 2027	₦4,999,800	₦324,987	₦5,324,787	₦34,998,600
14	October 21st, 2027	₦4,999,800	₦284,363.63	₦5,284,163.63	₦29,998,800
15	November 21st, 2027	₦4,999,800	₦243,740.25	₦5,243,540.25	₦24,999,000
16	December 21st, 2027	₦4,999,800	₦203,116.88	₦5,202,916.88	₦19,999,200
17	January 21st, 2028	₦4,999,800	₦162,493.50	₦5,162,293.50	₦14,999,400
18	February 21st, 2028	₦4,999,800	₦121,870.13	₦5,121,670.13	₦9,999,600
19	March 21st, 2028	₦4,999,800	₦81,246.75	₦5,081,046.75	₦4,999,800
20	April 21st, 2028	₦4,999,800	₦40,623.38	₦5,040,423.38	₦0

Finishing Levels

These are the different levels of finishing which the 2 Bedroom Apartment can be purchased using the MREIF Mortgage and the various prices on each finishing level.

Fully Completed (Not Furnished)

A fully finished house is a move-in-ready property where both the exterior and interior are completely done. The outside is fully painted with all doors, windows, and roofing in place. Inside, the walls are painted, ceilings are finished, floors are tiled, and all electrical sockets, light fixtures, and switches are installed. The bathrooms come with toilets, sinks, showers or bathtubs. It’s perfect for buyers who want a home that’s ready to live in without any extra work or finishing costs.

Price: ₦120,000,000
Minimum Initial Deposit: 16.67% (₦20,004,000)
Monthly Payment: ₦948,478.91
Payment Period: 1 year and 8 months

How it works

How the MREIF Mortgage works on Giddaa

Step 1
Find Home
Choose a house available on the Giddaa platform under the MREIF plan that meets your needs.
Performed by You with support from Giddaa
Step 2
Submit Documents
Submit your documents to Giddaa for prequalification to confirm your eligibility for the MREIF loan.
Performed by You
Step 3
Loan Processing
If you pass prequalification, Giddaa forwards your application to a financial institution, which processes the loan and secures approval from the Ministry of Finance Incorporated (MOFI) before disbursing funds to the developer.
Performed by Giddaa
Step 4
Get Keys, Repay
You receive your keys, move in, and start repaying monthly through the Giddaa platform with full tracking, reminders, and a wallet for easy payments.
Performed by You

Your Affordability

Your affordability for the MREIF Mortgage

Log in to check your affordability

We’ll compare this plan’s monthly payment with your income details and show you a clear estimate.

Application Documents

The documents you need to submit when applying for MREIF Mortgage

Required

Bank statement

Recent bank statements for the last six months to demonstrate financial stability and capacity to repay the loan with bank stamp.

Buy the 2 Bed Apartment in Surulere Lagos with the MREIF Mortgage. | Giddaa

MREIF Mortgage

Purchase option for 2 Bedroom Apartment 2 Bedroom Apartment in Surulere, Lagos

Details

Important details about the MREIF Mortgage

Interest Rate: 9.75% per annum
Finishing Levels: 1
Monthly Payment: ₦948,478.91
Minimum Down Payment: 16.67%
Payment Period: 1 year and 8 months
Maximum Loan Amount: ₦100,000,000
Closing Costs: Legal, Insurance, Professional Fees.
Joint applications and co-owners allowed?: Yes

Repayment Schedule

Repayment Schedule for the payment of MREIF Mortgage

Total Interest: ₦8.53M
Total Principal: ₦100M
Total Payable (total principal payment + total interest payment): ₦108.53M
Payment Period: 1 year and 8 months20 months

Month 1

September 21st, 2026

Principal payment: ₦4,999,800
Interest payment: ₦812,467.50
Monthly repayment: ₦5,812,267.50
Remaining balance: ₦94,996,200

Month 2

October 21st, 2026

Principal payment: ₦4,999,800
Interest payment: ₦771,844.13
Monthly repayment: ₦5,771,644.13
Remaining balance: ₦89,996,400

Month 3

November 21st, 2026

Principal payment: ₦4,999,800
Interest payment: ₦731,220.75
Monthly repayment: ₦5,731,020.75
Remaining balance: ₦84,996,600

Month 4

December 21st, 2026

Principal payment: ₦4,999,800
Interest payment: ₦690,597.38
Monthly repayment: ₦5,690,397.38
Remaining balance: ₦79,996,800

Month 5

January 21st, 2027

Principal payment: ₦4,999,800
Interest payment: ₦649,974
Monthly repayment: ₦5,649,774
Remaining balance: ₦74,997,000

Month 6

February 21st, 2027

Principal payment: ₦4,999,800
Interest payment: ₦609,350.63
Monthly repayment: ₦5,609,150.63
Remaining balance: ₦69,997,200

Month 7

March 21st, 2027

Principal payment: ₦4,999,800
Interest payment: ₦568,727.25
Monthly repayment: ₦5,568,527.25
Remaining balance: ₦64,997,400

Month 8

April 21st, 2027

Principal payment: ₦4,999,800
Interest payment: ₦528,103.88
Monthly repayment: ₦5,527,903.88
Remaining balance: ₦59,997,600

Month 9

May 21st, 2027

Principal payment: ₦4,999,800
Interest payment: ₦487,480.50
Monthly repayment: ₦5,487,280.50
Remaining balance: ₦54,997,800

Month 10

June 21st, 2027

Principal payment: ₦4,999,800
Interest payment: ₦446,857.13
Monthly repayment: ₦5,446,657.13
Remaining balance: ₦49,998,000

Month 11

July 21st, 2027

Principal payment: ₦4,999,800
Interest payment: ₦406,233.75
Monthly repayment: ₦5,406,033.75
Remaining balance: ₦44,998,200

Month 12

August 21st, 2027

Principal payment: ₦4,999,800
Interest payment: ₦365,610.38
Monthly repayment: ₦5,365,410.38
Remaining balance: ₦39,998,400

S/N	Month	Monthly Principal Payment	Monthly Interest Payment	Monthly Repayment	Remaining Balance
1	September 21st, 2026	₦4,999,800	₦812,467.50	₦5,812,267.50	₦94,996,200
2	October 21st, 2026	₦4,999,800	₦771,844.13	₦5,771,644.13	₦89,996,400
3	November 21st, 2026	₦4,999,800	₦731,220.75	₦5,731,020.75	₦84,996,600
4	December 21st, 2026	₦4,999,800	₦690,597.38	₦5,690,397.38	₦79,996,800
5	January 21st, 2027	₦4,999,800	₦649,974	₦5,649,774	₦74,997,000
6	February 21st, 2027	₦4,999,800	₦609,350.63	₦5,609,150.63	₦69,997,200
7	March 21st, 2027	₦4,999,800	₦568,727.25	₦5,568,527.25	₦64,997,400
8	April 21st, 2027	₦4,999,800	₦528,103.88	₦5,527,903.88	₦59,997,600
9	May 21st, 2027	₦4,999,800	₦487,480.50	₦5,487,280.50	₦54,997,800
10	June 21st, 2027	₦4,999,800	₦446,857.13	₦5,446,657.13	₦49,998,000
11	July 21st, 2027	₦4,999,800	₦406,233.75	₦5,406,033.75	₦44,998,200
12	August 21st, 2027	₦4,999,800	₦365,610.38	₦5,365,410.38	₦39,998,400
13	September 21st, 2027	₦4,999,800	₦324,987	₦5,324,787	₦34,998,600
14	October 21st, 2027	₦4,999,800	₦284,363.63	₦5,284,163.63	₦29,998,800
15	November 21st, 2027	₦4,999,800	₦243,740.25	₦5,243,540.25	₦24,999,000
16	December 21st, 2027	₦4,999,800	₦203,116.88	₦5,202,916.88	₦19,999,200
17	January 21st, 2028	₦4,999,800	₦162,493.50	₦5,162,293.50	₦14,999,400
18	February 21st, 2028	₦4,999,800	₦121,870.13	₦5,121,670.13	₦9,999,600
19	March 21st, 2028	₦4,999,800	₦81,246.75	₦5,081,046.75	₦4,999,800
20	April 21st, 2028	₦4,999,800	₦40,623.38	₦5,040,423.38	₦0

Finishing Levels

These are the different levels of finishing which the 2 Bedroom Apartment can be purchased using the MREIF Mortgage and the various prices on each finishing level.

Fully Completed (Not Furnished)

Price: ₦120,000,000
Minimum Initial Deposit: 16.67% (₦20,004,000)
Monthly Payment: ₦948,478.91
Payment Period: 1 year and 8 months

How it works

How the MREIF Mortgage works on Giddaa

Step 1
Find Home
Choose a house available on the Giddaa platform under the MREIF plan that meets your needs.
Performed by You with support from Giddaa
Step 2
Submit Documents
Submit your documents to Giddaa for prequalification to confirm your eligibility for the MREIF loan.
Performed by You
Step 3
Loan Processing
If you pass prequalification, Giddaa forwards your application to a financial institution, which processes the loan and secures approval from the Ministry of Finance Incorporated (MOFI) before disbursing funds to the developer.
Performed by Giddaa
Step 4
Get Keys, Repay
You receive your keys, move in, and start repaying monthly through the Giddaa platform with full tracking, reminders, and a wallet for easy payments.
Performed by You

Your Affordability

Your affordability for the MREIF Mortgage

Log in to check your affordability

We’ll compare this plan’s monthly payment with your income details and show you a clear estimate.

Application Documents

The documents you need to submit when applying for MREIF Mortgage

Required

Bank statement

Recent bank statements for the last six months to demonstrate financial stability and capacity to repay the loan with bank stamp.

Details

Repayment Schedule

Month 1

Month 2

Month 3

Month 4

Month 5

Month 6

Month 7

Month 8

Month 9

Month 10

Month 11

Month 12

Finishing Levels

Fully Completed (Not Furnished)

How it works

Find Home

Submit Documents

Loan Processing

Get Keys, Repay

Your Affordability

Log in to check your affordability

Application Documents

Bank statement

Details

Repayment Schedule

Month 1

Month 2

Month 3

Month 4

Month 5

Month 6

Month 7

Month 8

Month 9

Month 10

Month 11

Month 12

Finishing Levels

Fully Completed (Not Furnished)

How it works

Find Home

Submit Documents

Loan Processing

Get Keys, Repay

Your Affordability

Log in to check your affordability

Application Documents

Bank statement