MREIF Mortgage

Purchase option for 2 Bedroom Apartment 2 Bedroom Apartment in Oregun, 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: 23.08%
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: ₦97.90M
Total Principal: ₦100M
Total Payable (total principal payment + total interest payment): ₦197.90M
Payment Period: 20 years240 months

Month 1

October 14th, 2026

Principal payment: ₦416,650
Interest payment: ₦812,467.50
Monthly repayment: ₦1,229,117.50
Remaining balance: ₦99,579,350

Month 2

November 14th, 2026

Principal payment: ₦416,650
Interest payment: ₦809,082.22
Monthly repayment: ₦1,225,732.22
Remaining balance: ₦99,162,700

Month 3

December 14th, 2026

Principal payment: ₦416,650
Interest payment: ₦805,696.94
Monthly repayment: ₦1,222,346.94
Remaining balance: ₦98,746,050

Month 4

January 14th, 2027

Principal payment: ₦416,650
Interest payment: ₦802,311.66
Monthly repayment: ₦1,218,961.66
Remaining balance: ₦98,329,400

Month 5

February 14th, 2027

Principal payment: ₦416,650
Interest payment: ₦798,926.38
Monthly repayment: ₦1,215,576.38
Remaining balance: ₦97,912,750

Month 6

March 14th, 2027

Principal payment: ₦416,650
Interest payment: ₦795,541.09
Monthly repayment: ₦1,212,191.09
Remaining balance: ₦97,496,100

Month 7

April 14th, 2027

Principal payment: ₦416,650
Interest payment: ₦792,155.81
Monthly repayment: ₦1,208,805.81
Remaining balance: ₦97,079,450

Month 8

May 14th, 2027

Principal payment: ₦416,650
Interest payment: ₦788,770.53
Monthly repayment: ₦1,205,420.53
Remaining balance: ₦96,662,800

Month 9

June 14th, 2027

Principal payment: ₦416,650
Interest payment: ₦785,385.25
Monthly repayment: ₦1,202,035.25
Remaining balance: ₦96,246,150

Month 10

July 14th, 2027

Principal payment: ₦416,650
Interest payment: ₦781,999.97
Monthly repayment: ₦1,198,649.97
Remaining balance: ₦95,829,500

Month 11

August 14th, 2027

Principal payment: ₦416,650
Interest payment: ₦778,614.69
Monthly repayment: ₦1,195,264.69
Remaining balance: ₦95,412,850

Month 12

September 14th, 2027

Principal payment: ₦416,650
Interest payment: ₦775,229.41
Monthly repayment: ₦1,191,879.41
Remaining balance: ₦94,996,200

S/N	Month	Monthly Principal Payment	Monthly Interest Payment	Monthly Repayment	Remaining Balance
1	October 14th, 2026	₦416,650	₦812,467.50	₦1,229,117.50	₦99,579,350
2	November 14th, 2026	₦416,650	₦809,082.22	₦1,225,732.22	₦99,162,700
3	December 14th, 2026	₦416,650	₦805,696.94	₦1,222,346.94	₦98,746,050
4	January 14th, 2027	₦416,650	₦802,311.66	₦1,218,961.66	₦98,329,400
5	February 14th, 2027	₦416,650	₦798,926.38	₦1,215,576.38	₦97,912,750
6	March 14th, 2027	₦416,650	₦795,541.09	₦1,212,191.09	₦97,496,100
7	April 14th, 2027	₦416,650	₦792,155.81	₦1,208,805.81	₦97,079,450
8	May 14th, 2027	₦416,650	₦788,770.53	₦1,205,420.53	₦96,662,800
9	June 14th, 2027	₦416,650	₦785,385.25	₦1,202,035.25	₦96,246,150
10	July 14th, 2027	₦416,650	₦781,999.97	₦1,198,649.97	₦95,829,500
11	August 14th, 2027	₦416,650	₦778,614.69	₦1,195,264.69	₦95,412,850
12	September 14th, 2027	₦416,650	₦775,229.41	₦1,191,879.41	₦94,996,200
13	October 14th, 2027	₦416,650	₦771,844.13	₦1,188,494.13	₦94,579,550
14	November 14th, 2027	₦416,650	₦768,458.84	₦1,185,108.84	₦94,162,900
15	December 14th, 2027	₦416,650	₦765,073.56	₦1,181,723.56	₦93,746,250
16	January 14th, 2028	₦416,650	₦761,688.28	₦1,178,338.28	₦93,329,600
17	February 14th, 2028	₦416,650	₦758,303	₦1,174,953	₦92,912,950
18	March 14th, 2028	₦416,650	₦754,917.72	₦1,171,567.72	₦92,496,300
19	April 14th, 2028	₦416,650	₦751,532.44	₦1,168,182.44	₦92,079,650
20	May 14th, 2028	₦416,650	₦748,147.16	₦1,164,797.16	₦91,663,000
21	June 14th, 2028	₦416,650	₦744,761.88	₦1,161,411.88	₦91,246,350
22	July 14th, 2028	₦416,650	₦741,376.59	₦1,158,026.59	₦90,829,700
23	August 14th, 2028	₦416,650	₦737,991.31	₦1,154,641.31	₦90,413,050
24	September 14th, 2028	₦416,650	₦734,606.03	₦1,151,256.03	₦89,996,400

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: ₦130,000,000
Minimum Initial Deposit: 23.08% (₦30,004,000)
Monthly Payment: ₦948,478.91
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

No documents found

This plan does not require any documents.

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

MREIF Mortgage

Purchase option for 2 Bedroom Apartment 2 Bedroom Apartment in Oregun, 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: 23.08%
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: ₦97.90M
Total Principal: ₦100M
Total Payable (total principal payment + total interest payment): ₦197.90M
Payment Period: 20 years240 months

Month 1

October 14th, 2026

Principal payment: ₦416,650
Interest payment: ₦812,467.50
Monthly repayment: ₦1,229,117.50
Remaining balance: ₦99,579,350

Month 2

November 14th, 2026

Principal payment: ₦416,650
Interest payment: ₦809,082.22
Monthly repayment: ₦1,225,732.22
Remaining balance: ₦99,162,700

Month 3

December 14th, 2026

Principal payment: ₦416,650
Interest payment: ₦805,696.94
Monthly repayment: ₦1,222,346.94
Remaining balance: ₦98,746,050

Month 4

January 14th, 2027

Principal payment: ₦416,650
Interest payment: ₦802,311.66
Monthly repayment: ₦1,218,961.66
Remaining balance: ₦98,329,400

Month 5

February 14th, 2027

Principal payment: ₦416,650
Interest payment: ₦798,926.38
Monthly repayment: ₦1,215,576.38
Remaining balance: ₦97,912,750

Month 6

March 14th, 2027

Principal payment: ₦416,650
Interest payment: ₦795,541.09
Monthly repayment: ₦1,212,191.09
Remaining balance: ₦97,496,100

Month 7

April 14th, 2027

Principal payment: ₦416,650
Interest payment: ₦792,155.81
Monthly repayment: ₦1,208,805.81
Remaining balance: ₦97,079,450

Month 8

May 14th, 2027

Principal payment: ₦416,650
Interest payment: ₦788,770.53
Monthly repayment: ₦1,205,420.53
Remaining balance: ₦96,662,800

Month 9

June 14th, 2027

Principal payment: ₦416,650
Interest payment: ₦785,385.25
Monthly repayment: ₦1,202,035.25
Remaining balance: ₦96,246,150

Month 10

July 14th, 2027

Principal payment: ₦416,650
Interest payment: ₦781,999.97
Monthly repayment: ₦1,198,649.97
Remaining balance: ₦95,829,500

Month 11

August 14th, 2027

Principal payment: ₦416,650
Interest payment: ₦778,614.69
Monthly repayment: ₦1,195,264.69
Remaining balance: ₦95,412,850

Month 12

September 14th, 2027

Principal payment: ₦416,650
Interest payment: ₦775,229.41
Monthly repayment: ₦1,191,879.41
Remaining balance: ₦94,996,200

S/N	Month	Monthly Principal Payment	Monthly Interest Payment	Monthly Repayment	Remaining Balance
1	October 14th, 2026	₦416,650	₦812,467.50	₦1,229,117.50	₦99,579,350
2	November 14th, 2026	₦416,650	₦809,082.22	₦1,225,732.22	₦99,162,700
3	December 14th, 2026	₦416,650	₦805,696.94	₦1,222,346.94	₦98,746,050
4	January 14th, 2027	₦416,650	₦802,311.66	₦1,218,961.66	₦98,329,400
5	February 14th, 2027	₦416,650	₦798,926.38	₦1,215,576.38	₦97,912,750
6	March 14th, 2027	₦416,650	₦795,541.09	₦1,212,191.09	₦97,496,100
7	April 14th, 2027	₦416,650	₦792,155.81	₦1,208,805.81	₦97,079,450
8	May 14th, 2027	₦416,650	₦788,770.53	₦1,205,420.53	₦96,662,800
9	June 14th, 2027	₦416,650	₦785,385.25	₦1,202,035.25	₦96,246,150
10	July 14th, 2027	₦416,650	₦781,999.97	₦1,198,649.97	₦95,829,500
11	August 14th, 2027	₦416,650	₦778,614.69	₦1,195,264.69	₦95,412,850
12	September 14th, 2027	₦416,650	₦775,229.41	₦1,191,879.41	₦94,996,200
13	October 14th, 2027	₦416,650	₦771,844.13	₦1,188,494.13	₦94,579,550
14	November 14th, 2027	₦416,650	₦768,458.84	₦1,185,108.84	₦94,162,900
15	December 14th, 2027	₦416,650	₦765,073.56	₦1,181,723.56	₦93,746,250
16	January 14th, 2028	₦416,650	₦761,688.28	₦1,178,338.28	₦93,329,600
17	February 14th, 2028	₦416,650	₦758,303	₦1,174,953	₦92,912,950
18	March 14th, 2028	₦416,650	₦754,917.72	₦1,171,567.72	₦92,496,300
19	April 14th, 2028	₦416,650	₦751,532.44	₦1,168,182.44	₦92,079,650
20	May 14th, 2028	₦416,650	₦748,147.16	₦1,164,797.16	₦91,663,000
21	June 14th, 2028	₦416,650	₦744,761.88	₦1,161,411.88	₦91,246,350
22	July 14th, 2028	₦416,650	₦741,376.59	₦1,158,026.59	₦90,829,700
23	August 14th, 2028	₦416,650	₦737,991.31	₦1,154,641.31	₦90,413,050
24	September 14th, 2028	₦416,650	₦734,606.03	₦1,151,256.03	₦89,996,400

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: ₦130,000,000
Minimum Initial Deposit: 23.08% (₦30,004,000)
Monthly Payment: ₦948,478.91
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

No documents found

This plan does not require any documents.

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

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