Month 1
September 21st, 2026
- Principal payment
- Interest payment
- Monthly repayment
- Remaining balance
Purchase option for 3 Bedroom Bungalow + BQ 3 Bedroom Bungalow in Ikola, Lagos
Important details about the MREIF Mortgage
Repayment Schedule for the payment of MREIF Mortgage
September 21st, 2026
October 21st, 2026
November 21st, 2026
December 21st, 2026
January 21st, 2027
February 21st, 2027
March 21st, 2027
April 21st, 2027
May 21st, 2027
June 21st, 2027
July 21st, 2027
August 21st, 2027
| S/N | Month | Monthly Principal Payment | Monthly Interest Payment | Monthly Repayment | Remaining Balance |
|---|---|---|---|---|---|
| 1 | September 21st, 2026 | ₦4,500,000 | ₦731,250 | ₦5,231,250 | ₦85,500,000 |
| 2 | October 21st, 2026 | ₦4,500,000 | ₦694,687.50 | ₦5,194,687.50 | ₦81,000,000 |
| 3 | November 21st, 2026 | ₦4,500,000 | ₦658,125 | ₦5,158,125 | ₦76,500,000 |
| 4 | December 21st, 2026 | ₦4,500,000 | ₦621,562.50 | ₦5,121,562.50 | ₦72,000,000 |
| 5 | January 21st, 2027 | ₦4,500,000 | ₦585,000 | ₦5,085,000 | ₦67,500,000 |
| 6 | February 21st, 2027 | ₦4,500,000 | ₦548,437.50 | ₦5,048,437.50 | ₦63,000,000 |
| 7 | March 21st, 2027 | ₦4,500,000 | ₦511,875 | ₦5,011,875 | ₦58,500,000 |
| 8 | April 21st, 2027 | ₦4,500,000 | ₦475,312.50 | ₦4,975,312.50 | ₦54,000,000 |
| 9 | May 21st, 2027 | ₦4,500,000 | ₦438,750 | ₦4,938,750 | ₦49,500,000 |
| 10 | June 21st, 2027 | ₦4,500,000 | ₦402,187.50 | ₦4,902,187.50 | ₦45,000,000 |
| 11 | July 21st, 2027 | ₦4,500,000 | ₦365,625 | ₦4,865,625 | ₦40,500,000 |
| 12 | August 21st, 2027 | ₦4,500,000 | ₦329,062.50 | ₦4,829,062.50 | ₦36,000,000 |
| 13 | September 21st, 2027 | ₦4,500,000 | ₦292,500 | ₦4,792,500 | ₦31,500,000 |
| 14 | October 21st, 2027 | ₦4,500,000 | ₦255,937.50 | ₦4,755,937.50 | ₦27,000,000 |
| 15 | November 21st, 2027 | ₦4,500,000 | ₦219,375 | ₦4,719,375 | ₦22,500,000 |
| 16 | December 21st, 2027 | ₦4,500,000 | ₦182,812.50 | ₦4,682,812.50 | ₦18,000,000 |
| 17 | January 21st, 2028 | ₦4,500,000 | ₦146,250 | ₦4,646,250 | ₦13,500,000 |
| 18 | February 21st, 2028 | ₦4,500,000 | ₦109,687.50 | ₦4,609,687.50 | ₦9,000,000 |
| 19 | March 21st, 2028 | ₦4,500,000 | ₦73,125 | ₦4,573,125 | ₦4,500,000 |
| 20 | April 21st, 2028 | ₦4,500,000 | ₦36,562.50 | ₦4,536,562.50 | ₦0 |
These are the different levels of finishing which the 3 Bedroom Bungalow + BQ can be purchased using the MREIF Mortgage and the various prices on each finishing level.
How the MREIF Mortgage works on Giddaa
Step 1
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 your documents to Giddaa for prequalification to confirm your eligibility for the MREIF loan.
Performed by You
Step 3
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
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 for the MREIF Mortgage
We’ll compare this plan’s monthly payment with your income details and show you a clear estimate.
The documents you need to submit when applying for MREIF Mortgage
This plan does not require any documents.