MREIF Mortgage

Purchase option for 2 Bedroom Apartment 2 Bedroom Apartment in Chevron, Lekki, 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: ₦948,535.82
Minimum Down Payment: 28.57%
Payment Period: 20 years
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: ₦97.91M
Total Principal: ₦100M
Total Payable (total principal payment + total interest payment): ₦197.91M
Payment Period: 20 years240 months

Month 1

October 16th, 2026

Principal payment: ₦416,666.67
Interest payment: ₦812,500
Monthly repayment: ₦1,229,166.67
Remaining balance: ₦99,583,333.33

Month 2

November 16th, 2026

Principal payment: ₦416,666.67
Interest payment: ₦809,114.58
Monthly repayment: ₦1,225,781.25
Remaining balance: ₦99,166,666.67

Month 3

December 16th, 2026

Principal payment: ₦416,666.67
Interest payment: ₦805,729.17
Monthly repayment: ₦1,222,395.83
Remaining balance: ₦98,750,000

Month 4

January 16th, 2027

Principal payment: ₦416,666.67
Interest payment: ₦802,343.75
Monthly repayment: ₦1,219,010.42
Remaining balance: ₦98,333,333.33

Month 5

February 16th, 2027

Principal payment: ₦416,666.67
Interest payment: ₦798,958.33
Monthly repayment: ₦1,215,625
Remaining balance: ₦97,916,666.67

Month 6

March 16th, 2027

Principal payment: ₦416,666.67
Interest payment: ₦795,572.92
Monthly repayment: ₦1,212,239.58
Remaining balance: ₦97,500,000

Month 7

April 16th, 2027

Principal payment: ₦416,666.67
Interest payment: ₦792,187.50
Monthly repayment: ₦1,208,854.17
Remaining balance: ₦97,083,333.33

Month 8

May 16th, 2027

Principal payment: ₦416,666.67
Interest payment: ₦788,802.08
Monthly repayment: ₦1,205,468.75
Remaining balance: ₦96,666,666.67

Month 9

June 16th, 2027

Principal payment: ₦416,666.67
Interest payment: ₦785,416.67
Monthly repayment: ₦1,202,083.33
Remaining balance: ₦96,250,000

Month 10

July 16th, 2027

Principal payment: ₦416,666.67
Interest payment: ₦782,031.25
Monthly repayment: ₦1,198,697.92
Remaining balance: ₦95,833,333.33

Month 11

August 16th, 2027

Principal payment: ₦416,666.67
Interest payment: ₦778,645.83
Monthly repayment: ₦1,195,312.50
Remaining balance: ₦95,416,666.67

Month 12

September 16th, 2027

Principal payment: ₦416,666.67
Interest payment: ₦775,260.42
Monthly repayment: ₦1,191,927.08
Remaining balance: ₦95,000,000

S/N	Month	Monthly Principal Payment	Monthly Interest Payment	Monthly Repayment	Remaining Balance
1	October 16th, 2026	₦416,666.67	₦812,500	₦1,229,166.67	₦99,583,333.33
2	November 16th, 2026	₦416,666.67	₦809,114.58	₦1,225,781.25	₦99,166,666.67
3	December 16th, 2026	₦416,666.67	₦805,729.17	₦1,222,395.83	₦98,750,000
4	January 16th, 2027	₦416,666.67	₦802,343.75	₦1,219,010.42	₦98,333,333.33
5	February 16th, 2027	₦416,666.67	₦798,958.33	₦1,215,625	₦97,916,666.67
6	March 16th, 2027	₦416,666.67	₦795,572.92	₦1,212,239.58	₦97,500,000
7	April 16th, 2027	₦416,666.67	₦792,187.50	₦1,208,854.17	₦97,083,333.33
8	May 16th, 2027	₦416,666.67	₦788,802.08	₦1,205,468.75	₦96,666,666.67
9	June 16th, 2027	₦416,666.67	₦785,416.67	₦1,202,083.33	₦96,250,000
10	July 16th, 2027	₦416,666.67	₦782,031.25	₦1,198,697.92	₦95,833,333.33
11	August 16th, 2027	₦416,666.67	₦778,645.83	₦1,195,312.50	₦95,416,666.67
12	September 16th, 2027	₦416,666.67	₦775,260.42	₦1,191,927.08	₦95,000,000
13	October 16th, 2027	₦416,666.67	₦771,875	₦1,188,541.67	₦94,583,333.33
14	November 16th, 2027	₦416,666.67	₦768,489.58	₦1,185,156.25	₦94,166,666.67
15	December 16th, 2027	₦416,666.67	₦765,104.17	₦1,181,770.83	₦93,750,000
16	January 16th, 2028	₦416,666.67	₦761,718.75	₦1,178,385.42	₦93,333,333.33
17	February 16th, 2028	₦416,666.67	₦758,333.33	₦1,175,000	₦92,916,666.67
18	March 16th, 2028	₦416,666.67	₦754,947.92	₦1,171,614.58	₦92,500,000
19	April 16th, 2028	₦416,666.67	₦751,562.50	₦1,168,229.17	₦92,083,333.33
20	May 16th, 2028	₦416,666.67	₦748,177.08	₦1,164,843.75	₦91,666,666.67
21	June 16th, 2028	₦416,666.67	₦744,791.67	₦1,161,458.33	₦91,250,000
22	July 16th, 2028	₦416,666.67	₦741,406.25	₦1,158,072.92	₦90,833,333.33
23	August 16th, 2028	₦416,666.67	₦738,020.83	₦1,154,687.50	₦90,416,666.67
24	September 16th, 2028	₦416,666.67	₦734,635.42	₦1,151,302.08	₦90,000,000

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: ₦140,000,000
Minimum Initial Deposit: 28.57% (₦40,000,000)
Monthly Payment: ₦948,535.82
Payment Period: 20 years

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 Chevron, Lekki Lagos with the MREIF Mortgage. | Giddaa

MREIF Mortgage

Purchase option for 2 Bedroom Apartment 2 Bedroom Apartment in Chevron, Lekki, Lagos

Details

Important details about the MREIF Mortgage

Interest Rate: 9.75% per annum
Finishing Levels: 1
Monthly Payment: ₦948,535.82
Minimum Down Payment: 28.57%
Payment Period: 20 years
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: ₦97.91M
Total Principal: ₦100M
Total Payable (total principal payment + total interest payment): ₦197.91M
Payment Period: 20 years240 months

Month 1

October 16th, 2026

Principal payment: ₦416,666.67
Interest payment: ₦812,500
Monthly repayment: ₦1,229,166.67
Remaining balance: ₦99,583,333.33

Month 2

November 16th, 2026

Principal payment: ₦416,666.67
Interest payment: ₦809,114.58
Monthly repayment: ₦1,225,781.25
Remaining balance: ₦99,166,666.67

Month 3

December 16th, 2026

Principal payment: ₦416,666.67
Interest payment: ₦805,729.17
Monthly repayment: ₦1,222,395.83
Remaining balance: ₦98,750,000

Month 4

January 16th, 2027

Principal payment: ₦416,666.67
Interest payment: ₦802,343.75
Monthly repayment: ₦1,219,010.42
Remaining balance: ₦98,333,333.33

Month 5

February 16th, 2027

Principal payment: ₦416,666.67
Interest payment: ₦798,958.33
Monthly repayment: ₦1,215,625
Remaining balance: ₦97,916,666.67

Month 6

March 16th, 2027

Principal payment: ₦416,666.67
Interest payment: ₦795,572.92
Monthly repayment: ₦1,212,239.58
Remaining balance: ₦97,500,000

Month 7

April 16th, 2027

Principal payment: ₦416,666.67
Interest payment: ₦792,187.50
Monthly repayment: ₦1,208,854.17
Remaining balance: ₦97,083,333.33

Month 8

May 16th, 2027

Principal payment: ₦416,666.67
Interest payment: ₦788,802.08
Monthly repayment: ₦1,205,468.75
Remaining balance: ₦96,666,666.67

Month 9

June 16th, 2027

Principal payment: ₦416,666.67
Interest payment: ₦785,416.67
Monthly repayment: ₦1,202,083.33
Remaining balance: ₦96,250,000

Month 10

July 16th, 2027

Principal payment: ₦416,666.67
Interest payment: ₦782,031.25
Monthly repayment: ₦1,198,697.92
Remaining balance: ₦95,833,333.33

Month 11

August 16th, 2027

Principal payment: ₦416,666.67
Interest payment: ₦778,645.83
Monthly repayment: ₦1,195,312.50
Remaining balance: ₦95,416,666.67

Month 12

September 16th, 2027

Principal payment: ₦416,666.67
Interest payment: ₦775,260.42
Monthly repayment: ₦1,191,927.08
Remaining balance: ₦95,000,000

S/N	Month	Monthly Principal Payment	Monthly Interest Payment	Monthly Repayment	Remaining Balance
1	October 16th, 2026	₦416,666.67	₦812,500	₦1,229,166.67	₦99,583,333.33
2	November 16th, 2026	₦416,666.67	₦809,114.58	₦1,225,781.25	₦99,166,666.67
3	December 16th, 2026	₦416,666.67	₦805,729.17	₦1,222,395.83	₦98,750,000
4	January 16th, 2027	₦416,666.67	₦802,343.75	₦1,219,010.42	₦98,333,333.33
5	February 16th, 2027	₦416,666.67	₦798,958.33	₦1,215,625	₦97,916,666.67
6	March 16th, 2027	₦416,666.67	₦795,572.92	₦1,212,239.58	₦97,500,000
7	April 16th, 2027	₦416,666.67	₦792,187.50	₦1,208,854.17	₦97,083,333.33
8	May 16th, 2027	₦416,666.67	₦788,802.08	₦1,205,468.75	₦96,666,666.67
9	June 16th, 2027	₦416,666.67	₦785,416.67	₦1,202,083.33	₦96,250,000
10	July 16th, 2027	₦416,666.67	₦782,031.25	₦1,198,697.92	₦95,833,333.33
11	August 16th, 2027	₦416,666.67	₦778,645.83	₦1,195,312.50	₦95,416,666.67
12	September 16th, 2027	₦416,666.67	₦775,260.42	₦1,191,927.08	₦95,000,000
13	October 16th, 2027	₦416,666.67	₦771,875	₦1,188,541.67	₦94,583,333.33
14	November 16th, 2027	₦416,666.67	₦768,489.58	₦1,185,156.25	₦94,166,666.67
15	December 16th, 2027	₦416,666.67	₦765,104.17	₦1,181,770.83	₦93,750,000
16	January 16th, 2028	₦416,666.67	₦761,718.75	₦1,178,385.42	₦93,333,333.33
17	February 16th, 2028	₦416,666.67	₦758,333.33	₦1,175,000	₦92,916,666.67
18	March 16th, 2028	₦416,666.67	₦754,947.92	₦1,171,614.58	₦92,500,000
19	April 16th, 2028	₦416,666.67	₦751,562.50	₦1,168,229.17	₦92,083,333.33
20	May 16th, 2028	₦416,666.67	₦748,177.08	₦1,164,843.75	₦91,666,666.67
21	June 16th, 2028	₦416,666.67	₦744,791.67	₦1,161,458.33	₦91,250,000
22	July 16th, 2028	₦416,666.67	₦741,406.25	₦1,158,072.92	₦90,833,333.33
23	August 16th, 2028	₦416,666.67	₦738,020.83	₦1,154,687.50	₦90,416,666.67
24	September 16th, 2028	₦416,666.67	₦734,635.42	₦1,151,302.08	₦90,000,000

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: ₦140,000,000
Minimum Initial Deposit: 28.57% (₦40,000,000)
Monthly Payment: ₦948,535.82
Payment Period: 20 years

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