Despite your financial situation, or your religious beliefs, our plans will ensure you and yours can have a place to call your “own”.
Plans are payment options available for you to buy your future home. Find the plan that meets your needs.
With Developer Payment Plans, you can buy a home directly from a developer and pay in flexible instalments.
Outright purchase means you pay the full price of the house once and take complete ownership immediately.
MREIF is a housing scheme by the Ministry of Finance Incorporated, designed to support homeownership.
The FMBN Rent to Own is designed for NHF contributors.
The NHF loan is a government-backed home loan available to Nigerians who contribute to the scheme.
Find out how the different plans compare, and make the right decision for “yourself”.
| Compare plans5 plans side by side | MREIF Mortgage | National Housing Fund (NHF) Plan | Outright Plan | Rent To Own Plan | Payment Plan |
|---|---|---|---|---|---|
| Minimum DownpaymentHow much you need to start | 10%Best value | 20% | 100% | 20% | Defined by Developer |
| Interest RateWhat the money costs you | 9.75% | 6% | Not RequiredBest value | 7% | Not RequiredBest value |
| Payment PeriodHow long you pay | 20 Years (240 Months) | 30 Years (360 Months)Best value | Not Required | 30 Years (360 Months)Best value | Defined by the plan (3, 6, 9, 12, 36 months available) |
| Max AmountThe most this plan covers | ₦100 millionBest value | ₦50 million | The price of the house | ₦50 million | The price of the house |
| Contribution PeriodWhether you must save first | Not RequiredBest value | Not RequiredBest value | Not RequiredBest value | Not RequiredBest value | Not RequiredBest value |
| Processing TimeHow long approval takes | 2 Weeks – 12 Months | 6 Months – 12 Months | 1 Week | 6 Months – 12 Months | 1 Week |
| Available HousesHomes you can buy with it | 102 | 69 | 3331 | 14 | 373 |
Speak with our support team to find out if this plan is the right plan for your home purchase.
Have questions? Hopefully, this provide answers to your questions.
