MREIF Mortgage

Purchase option for 3 Bed Semi Detached Bungalow 3 Bedroom Bungalow in 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: ₦738,704.92
Minimum Down Payment: 20%
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: ₦76.25M
Total Principal: ₦77.88M
Total Payable (total principal payment + total interest payment): ₦154.13M
Payment Period: 20 years240 months

Month 1

October 22nd, 2026

Principal payment: ₦324,500
Interest payment: ₦632,775
Monthly repayment: ₦957,275
Remaining balance: ₦77,555,500

Month 2

November 22nd, 2026

Principal payment: ₦324,500
Interest payment: ₦630,138.44
Monthly repayment: ₦954,638.44
Remaining balance: ₦77,231,000

Month 3

December 22nd, 2026

Principal payment: ₦324,500
Interest payment: ₦627,501.88
Monthly repayment: ₦952,001.88
Remaining balance: ₦76,906,500

Month 4

January 22nd, 2027

Principal payment: ₦324,500
Interest payment: ₦624,865.31
Monthly repayment: ₦949,365.31
Remaining balance: ₦76,582,000

Month 5

February 22nd, 2027

Principal payment: ₦324,500
Interest payment: ₦622,228.75
Monthly repayment: ₦946,728.75
Remaining balance: ₦76,257,500

Month 6

March 22nd, 2027

Principal payment: ₦324,500
Interest payment: ₦619,592.19
Monthly repayment: ₦944,092.19
Remaining balance: ₦75,933,000

Month 7

April 22nd, 2027

Principal payment: ₦324,500
Interest payment: ₦616,955.63
Monthly repayment: ₦941,455.63
Remaining balance: ₦75,608,500

Month 8

May 22nd, 2027

Principal payment: ₦324,500
Interest payment: ₦614,319.06
Monthly repayment: ₦938,819.06
Remaining balance: ₦75,284,000

Month 9

June 22nd, 2027

Principal payment: ₦324,500
Interest payment: ₦611,682.50
Monthly repayment: ₦936,182.50
Remaining balance: ₦74,959,500

Month 10

July 22nd, 2027

Principal payment: ₦324,500
Interest payment: ₦609,045.94
Monthly repayment: ₦933,545.94
Remaining balance: ₦74,635,000

Month 11

August 22nd, 2027

Principal payment: ₦324,500
Interest payment: ₦606,409.38
Monthly repayment: ₦930,909.38
Remaining balance: ₦74,310,500

Month 12

September 22nd, 2027

Principal payment: ₦324,500
Interest payment: ₦603,772.81
Monthly repayment: ₦928,272.81
Remaining balance: ₦73,986,000

S/N	Month	Monthly Principal Payment	Monthly Interest Payment	Monthly Repayment	Remaining Balance
1	October 22nd, 2026	₦324,500	₦632,775	₦957,275	₦77,555,500
2	November 22nd, 2026	₦324,500	₦630,138.44	₦954,638.44	₦77,231,000
3	December 22nd, 2026	₦324,500	₦627,501.88	₦952,001.88	₦76,906,500
4	January 22nd, 2027	₦324,500	₦624,865.31	₦949,365.31	₦76,582,000
5	February 22nd, 2027	₦324,500	₦622,228.75	₦946,728.75	₦76,257,500
6	March 22nd, 2027	₦324,500	₦619,592.19	₦944,092.19	₦75,933,000
7	April 22nd, 2027	₦324,500	₦616,955.63	₦941,455.63	₦75,608,500
8	May 22nd, 2027	₦324,500	₦614,319.06	₦938,819.06	₦75,284,000
9	June 22nd, 2027	₦324,500	₦611,682.50	₦936,182.50	₦74,959,500
10	July 22nd, 2027	₦324,500	₦609,045.94	₦933,545.94	₦74,635,000
11	August 22nd, 2027	₦324,500	₦606,409.38	₦930,909.38	₦74,310,500
12	September 22nd, 2027	₦324,500	₦603,772.81	₦928,272.81	₦73,986,000
13	October 22nd, 2027	₦324,500	₦601,136.25	₦925,636.25	₦73,661,500
14	November 22nd, 2027	₦324,500	₦598,499.69	₦922,999.69	₦73,337,000
15	December 22nd, 2027	₦324,500	₦595,863.13	₦920,363.13	₦73,012,500
16	January 22nd, 2028	₦324,500	₦593,226.56	₦917,726.56	₦72,688,000
17	February 22nd, 2028	₦324,500	₦590,590	₦915,090	₦72,363,500
18	March 22nd, 2028	₦324,500	₦587,953.44	₦912,453.44	₦72,039,000
19	April 22nd, 2028	₦324,500	₦585,316.88	₦909,816.88	₦71,714,500
20	May 22nd, 2028	₦324,500	₦582,680.31	₦907,180.31	₦71,390,000
21	June 22nd, 2028	₦324,500	₦580,043.75	₦904,543.75	₦71,065,500
22	July 22nd, 2028	₦324,500	₦577,407.19	₦901,907.19	₦70,741,000
23	August 22nd, 2028	₦324,500	₦574,770.63	₦899,270.63	₦70,416,500
24	September 22nd, 2028	₦324,500	₦572,134.06	₦896,634.06	₦70,092,000

Finishing Levels

These are the different levels of finishing which the 3 Bed Semi Detached Bungalow can be purchased using the MREIF Mortgage and the various prices on each finishing level.

Semi Finished

A semi-finished house is a property where the exterior is fully completed, including painted walls, a finished roof, installed windows, and exit doors. However, the interior is left unfinished, allowing buyers to customize it to their taste. Inside, walls are plastered but not painted, and flooring is left as plain concrete. Electrical wiring and plumbing pipes are installed, but there are no sockets, bathroom fixtures, wardrobes, or kitchen fittings. This option is more affordable than a fully finished house and offers buyers the flexibility to complete the interiors gradually based on their preferences and budget.

Price: ₦97,350,000
Minimum Initial Deposit: 20% (₦19,470,000)
Monthly Payment: ₦738,704.92
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 3 Bed Bungalow in Lekki Lagos with the MREIF Mortgage. | Giddaa

MREIF Mortgage

Purchase option for 3 Bed Semi Detached Bungalow 3 Bedroom Bungalow in Lekki, Lagos

Details

Important details about the MREIF Mortgage

Interest Rate: 9.75% per annum
Finishing Levels: 1
Monthly Payment: ₦738,704.92
Minimum Down Payment: 20%
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: ₦76.25M
Total Principal: ₦77.88M
Total Payable (total principal payment + total interest payment): ₦154.13M
Payment Period: 20 years240 months

Month 1

October 22nd, 2026

Principal payment: ₦324,500
Interest payment: ₦632,775
Monthly repayment: ₦957,275
Remaining balance: ₦77,555,500

Month 2

November 22nd, 2026

Principal payment: ₦324,500
Interest payment: ₦630,138.44
Monthly repayment: ₦954,638.44
Remaining balance: ₦77,231,000

Month 3

December 22nd, 2026

Principal payment: ₦324,500
Interest payment: ₦627,501.88
Monthly repayment: ₦952,001.88
Remaining balance: ₦76,906,500

Month 4

January 22nd, 2027

Principal payment: ₦324,500
Interest payment: ₦624,865.31
Monthly repayment: ₦949,365.31
Remaining balance: ₦76,582,000

Month 5

February 22nd, 2027

Principal payment: ₦324,500
Interest payment: ₦622,228.75
Monthly repayment: ₦946,728.75
Remaining balance: ₦76,257,500

Month 6

March 22nd, 2027

Principal payment: ₦324,500
Interest payment: ₦619,592.19
Monthly repayment: ₦944,092.19
Remaining balance: ₦75,933,000

Month 7

April 22nd, 2027

Principal payment: ₦324,500
Interest payment: ₦616,955.63
Monthly repayment: ₦941,455.63
Remaining balance: ₦75,608,500

Month 8

May 22nd, 2027

Principal payment: ₦324,500
Interest payment: ₦614,319.06
Monthly repayment: ₦938,819.06
Remaining balance: ₦75,284,000

Month 9

June 22nd, 2027

Principal payment: ₦324,500
Interest payment: ₦611,682.50
Monthly repayment: ₦936,182.50
Remaining balance: ₦74,959,500

Month 10

July 22nd, 2027

Principal payment: ₦324,500
Interest payment: ₦609,045.94
Monthly repayment: ₦933,545.94
Remaining balance: ₦74,635,000

Month 11

August 22nd, 2027

Principal payment: ₦324,500
Interest payment: ₦606,409.38
Monthly repayment: ₦930,909.38
Remaining balance: ₦74,310,500

Month 12

September 22nd, 2027

Principal payment: ₦324,500
Interest payment: ₦603,772.81
Monthly repayment: ₦928,272.81
Remaining balance: ₦73,986,000

S/N	Month	Monthly Principal Payment	Monthly Interest Payment	Monthly Repayment	Remaining Balance
1	October 22nd, 2026	₦324,500	₦632,775	₦957,275	₦77,555,500
2	November 22nd, 2026	₦324,500	₦630,138.44	₦954,638.44	₦77,231,000
3	December 22nd, 2026	₦324,500	₦627,501.88	₦952,001.88	₦76,906,500
4	January 22nd, 2027	₦324,500	₦624,865.31	₦949,365.31	₦76,582,000
5	February 22nd, 2027	₦324,500	₦622,228.75	₦946,728.75	₦76,257,500
6	March 22nd, 2027	₦324,500	₦619,592.19	₦944,092.19	₦75,933,000
7	April 22nd, 2027	₦324,500	₦616,955.63	₦941,455.63	₦75,608,500
8	May 22nd, 2027	₦324,500	₦614,319.06	₦938,819.06	₦75,284,000
9	June 22nd, 2027	₦324,500	₦611,682.50	₦936,182.50	₦74,959,500
10	July 22nd, 2027	₦324,500	₦609,045.94	₦933,545.94	₦74,635,000
11	August 22nd, 2027	₦324,500	₦606,409.38	₦930,909.38	₦74,310,500
12	September 22nd, 2027	₦324,500	₦603,772.81	₦928,272.81	₦73,986,000
13	October 22nd, 2027	₦324,500	₦601,136.25	₦925,636.25	₦73,661,500
14	November 22nd, 2027	₦324,500	₦598,499.69	₦922,999.69	₦73,337,000
15	December 22nd, 2027	₦324,500	₦595,863.13	₦920,363.13	₦73,012,500
16	January 22nd, 2028	₦324,500	₦593,226.56	₦917,726.56	₦72,688,000
17	February 22nd, 2028	₦324,500	₦590,590	₦915,090	₦72,363,500
18	March 22nd, 2028	₦324,500	₦587,953.44	₦912,453.44	₦72,039,000
19	April 22nd, 2028	₦324,500	₦585,316.88	₦909,816.88	₦71,714,500
20	May 22nd, 2028	₦324,500	₦582,680.31	₦907,180.31	₦71,390,000
21	June 22nd, 2028	₦324,500	₦580,043.75	₦904,543.75	₦71,065,500
22	July 22nd, 2028	₦324,500	₦577,407.19	₦901,907.19	₦70,741,000
23	August 22nd, 2028	₦324,500	₦574,770.63	₦899,270.63	₦70,416,500
24	September 22nd, 2028	₦324,500	₦572,134.06	₦896,634.06	₦70,092,000

Finishing Levels

These are the different levels of finishing which the 3 Bed Semi Detached Bungalow can be purchased using the MREIF Mortgage and the various prices on each finishing level.

Semi Finished

Price: ₦97,350,000
Minimum Initial Deposit: 20% (₦19,470,000)
Monthly Payment: ₦738,704.92
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

Semi Finished

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

Semi Finished

How it works

Find Home

Submit Documents

Loan Processing

Get Keys, Repay

Your Affordability

Log in to check your affordability

Application Documents

Bank statement