MY OWN HOME SCHEME
"My own Home" scheme is a public-private partnership that seeks to increase access to housing finance in Nigeria through mortgages, mortgage guarantee/insurance and housing microfinance.Contact For more information, kindly contact any of the following numbers or send a mail to firstname.lastname@example.org
The "My own Home" scheme has come to institute a sustainable framework for ensuring improved access to housing finance for increased home ownership. The scheme will also provide awareness, education and practical tips to assist prospective homebuyers in their quest for housing financing.
Equity Contribution It varies depending on the Loan Amount desired by a Borrower from one mortgage operating bank to the other. Underwriting standard requirements vary from 20% to 50%.
How much do I need to contribute to get the "My own Home" Mortgage Guarantee? The "My own Home" Mortgage Guarantee is available to eligible applicants with insufficient or no equity contribution. Discuss with your mortgage banker to see the option that best suits you. foreclosure. (See Accessing Housing Finance in Nigeria - A Guide to Responsible Lending)
Tenure Typically between 15 and 25 years depending on the age of the borrower, their income and desired tenor.
What is the difference between this scheme and other housing schemes in Nigeria? The "My own Home" scheme has set up a framework that will revamp the housing finance sector and also make access to housing finance a lot easier through the following components: