How to Get a Mortgage in Nigeria on a ₦600,000 Salary

Owning a home in Nigeria is more achievable than most people think — even on a ₦600,000 monthly salary. With structured mortgage programs like the National Housing Fund (NHF) and the Mortgage Refinance and Investment Facility (MREIF), middle-income earners can finance homes with single-digit interest rates and long-term repayment plans.

If you’ve been dreaming of buying your first BrickForte home, here’s how to make it happen.

1. Understand What a Mortgage Really Means

A mortgage is a long-term loan that lets you purchase property and pay back gradually — typically over 10 to 25 years. The house itself acts as security for the loan.

Most Nigerian banks and mortgage institutions now partner with MREIF to offer accessible housing finance, making mortgages more affordable and stable.

2. How MREIF and NHF Make Home Ownership Possible

MREIF works behind the scenes by refinancing mortgage loans given by banks and mortgage institutions. This means lenders can offer longer repayment periods and lower interest rates, usually between 6–9% per annum — far less than regular commercial rates.

NHF, managed by the Federal Mortgage Bank of Nigeria (FMBN), directly helps contributors (civil servants and private employees) access home loans at as low as 6% interest, repayable over up to 30 years.
To qualify, you must:

• Contribute 2.5% of your monthly salary to the NHF for at least six months.

• Apply through an accredited Primary Mortgage Bank (PMB).

• Present proof of employment, income, and property details (BrickForte can assist with documentation).

3. Mortgage Example: ₦600,000 Monthly Salary

Let’s say you earn ₦600,000 monthly and wish to buy a ₦40 million BrickForte duplex.
Here’s how it could work:

• Equity contribution (20%) → ₦8 million upfront.

• Loan amount (80%) → ₦32 million.

• Interest rate (NHF 6%) → Approx. ₦230,000 monthly repayment for 20 years.

This structure allows you to comfortably own a home while maintaining a livable income — especially if you budget responsibly or have additional income streams.

4. Step-by-Step Guide to Get Started

1. Open an NHF account through your employer or individually via FMBN.

2. Contribute monthly (2.5% of basic salary).

3. Select a verified BrickForte property eligible for mortgage financing.

4. Apply through a Primary Mortgage Bank partnered with MREIF or NHF.

5. Submit documentation (ID, payslips, employment letter, valuation report).

6. Await approval and receive a Letter of Offer.

7. Sign the agreement and move into your new home.

5. Why BrickForte is the Smart Choice

BrickForte simplifies home ownership for salaried professionals with:

• Mortgage-ready homes in Lagos and Abuja

• Direct partnerships with MREIF-backed lenders

• Clear documentation and property valuation support

• Flexible payment options to match your income

Whether you’re a first-time buyer or investor, BrickForte bridges the gap between aspiration and ownership — turning your salary into lasting real estate wealth.

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