Getting mortgage loans in Nigeria can feel like solving a complex puzzle with too many missing pieces. Many people dream of owning a home but get stuck when banks begin requesting documents they never knew were required. From proof of income to land titles and tax records, each document plays a crucial role—not only for mortgage loan approval but also in proving your ability to repay the loan.

Whether you are a salary earner hoping to buy your first home or a self-employed business owner looking to invest in property, knowing exactly what documents to prepare will save you time, stress, and disappointment. This guide breaks down everything you need to get your mortgage loan approved in Nigeria, step by step.

First, we must establish the fact that mortgages are not magic bullets, but they are powerful tools. They let you spread the cost of your apartment over a period of up to 30 years instead of draining your life savings in one gulp.

In a country where the housing deficit stands at 28 million units and average home prices range from ₦50 million to ₦200 million, the ability to pay in installments is the difference between being at the mercy of Shylock landlords forever and building generational wealth while living in comfort and peace of mind.

Yet only 2% of Nigerians own homes through mortgages, compared to 70% in the United States. Why? High interest rates, hovering between 9.75% and above 28%, depending on the lender and program, and a mountain of paperwork that feels designed to discourage. 

But the numbers are shifting. Mortgage assets in Nigeria jumped from ₦64 billion in the first half of 2021 to ₦626 billion in the first half of 2025, an 11-fold increase. The Federal Mortgage Bank of Nigeria (FMBN) disbursed ₦100 billion in 2025 alone through its National Housing Fund (NHF), funding 50,000 homes. Private banks like Access, GTBank, and First Bank are expanding their mortgage desks, offering loans from ₦50 million to ₦500 million. And developers, some more innovative than others, are stepping in with flexible financing to close the gap. 

This guide is not a sales pitch. It’s a map. We will walk through every document you need, why lenders demand it, and how real people have navigated the process. Along the way, we will touch on how forward-thinking developers are making the journey smoother. By the end, you will know exactly what to gather before you walk into a bank or a developer’s office.

Understanding Mortgages: The Basics Every Nigerian Should Know

A mortgage is a loan secured against the property you are buying. The house acts as collateral, if you default, the lender can sell it to recover their money. In Nigeria, two main systems exist: Government-backed schemes and Commercial Bank Mortgages.

1. Government-backed schemes:

These are loan initiatives subsidized by the federal government to make housing affordable for Nigerians. Examples are as follows:

National Housing Fund (NHF) – Run by FMBN. 

The National Housing Fund (NHF) is a government-backed initiative designed to provide affordable mortgages to Nigerian citizens. Managed by the Federal Mortgage Bank of Nigeria (FMBN), the NHF scheme aims to help low- and middle-income earners access affordable housing finance at 6% interest rate for a maximum of 30 years.

Key Features:

Eligibility: Nigerians earning a minimum monthly income of ₦300,000 are eligible to contribute to the NHF. They must be between the ages of 18 and 60 to qualify for a mortgage.

Contributions: Beneficiaries contribute 2.5% of their monthly income to the fund, which accumulates over time and can be used for securing a mortgage.

Interest Rates: The NHF offers one of the most competitive interest rates in the Nigerian mortgage market, typically at 6% per annum, far lower than commercial bank rates.

Loan Tenure: Loans under the NHF scheme can have a repayment period of up to 30 years, depending on the borrower’s age and income level.

Loan Amount: The maximum loan amount under the NHF scheme is ₦50 million, though this depends on the borrower’s capacity to repay.

MOFI Real Estate Investment Fund (MREIF)

The MOFI Real Estate Investment Fund (MREIF) is a crucial part of President Bola Ahmed Tinubu’s Renewed Hope plan. It was established under the One Million Homes Housing Project. With an estimated shortfall of 28 million housing units, the initiative aims to provide a sustainable solution to the country’s housing crisis. MREIF is designed to catalyze the housing market by offering accessible financing options, thereby facilitating the construction and sale of affordable homes across Nigeria. This initiative targets low- and middle-income earners, ensuring that affordable housing is within reach for a significant portion of the population. It comes at 9.75% interest rate for a repayment period of up to 20 years, and a maximum of N100m accessible loan.

MREIF offers long-term, low-interest mortgage loans designed to make homeownership accessible to a wide range of Nigerians. These loans come with favourable terms to reduce the financial burden on homebuyers.

Eligibility Criteria

Applicants must be Nigerian citizens.

They must meet specific income and credit criteria.

Required documentation must be submitted, and the application process must be completed.

Application Process

Interested homebuyers can apply through MREIF’s official channels, submitting the necessary documents and fulfilling the eligibility requirements.

Family Home Funds (HFH) Help to Own Initiative

The third government-backed scheme, the Family Homes Funds (FHF) Help to Own (HTO) initiative, continues to gain momentum in 2025 as a key pillar of Nigeria’s Renewed Hope Cities and Affordable Housing Programme.

Managed by Family Homes Funds Limited (FHFL), a government entity under the Ministry of Housing and Urban Development, HTO targets low- and middle-income earners, enabling them to access up to ₦40 million in financing for property acquisition and construction reflecting FHFL’s expanded ₦500 billion portfolio disbursed through partnerships with over 30 Primary Mortgage Institutions (PMIs) nationwide, with ₦100 billion allocated in Q3 2025 alone to support 10,000 families. Interest rates remain competitive and variable, typically ranging from 8% to 10% depending on the PMI and borrower’s profile.

The maximum tenure is 20 years with monthly repayments capped at 30–40% of income to ensure sustainability. Equity contributions start at 10%, and loans are secured against the property, with digital applications streamlining approvals to 4–6 weeks.

2. Commercial Bank Mortgages:

Commercial loans from banks forms the second scheme of Mortgages in Nigeria. This provides individuals opportunities to approach a commercial bank and obtain a mortgage loan on agreed terms. However, compared to the Government-backed options, the commercial loans are steep, reflecting the Central Bank of Nigeria’s (CBN) high benchmark Monetary Policy Rate (MPR) of 27.5% (held steady since mid-2025). This option is higher to enable the banks cover inflation and risks.

   – Who qualifies? Salaried or self-employed with verifiable income (₦200,000+ monthly). 

   – Loan size: ₦50–500 million. 

   – Interest rate: Above 27.5%. 

   – Maximun Tenure: 10 years. 

   – Down payment: 20–30%. 

The catch? Banks want proof you won’t vanish with their money. That proof comes in the form of documents. Miss one, and your application dies in a drawer. Get them right, and approval can take as little as 4–6 weeks.

Eligibility: Who Actually Gets Approved?

Lenders don’t care about your dreams, they care about risk. Default rates in Nigeria hit 4.8% in 2025, so they screen hard.

NHF Requirements 

– Minimum 3 months of NHF contributions 

– First-time buyer 

– Annual income below ₦50 million 

– Age 18–60 

 Commercial Bank Requirements 

– Age 21–65 

– Minimum monthly income ₦200,000 

– Debt-to-income ratio below 40% 

– Credit score 300+ (CRC Credit Bureau) 

Let me share a real story with you: I know of a trader in Alaba International Market in Lagos, named Emmanuel, who applied for a GTBank mortgage in 2024. By his turnover of ₦1.5 million monthly, he had a healthy chance, but sadly, his credit score was just about 260 due to unpaid supplier credit. To get the mortgage he applied for, he first spent nine months clearing debts and formalizing his business accounts. Not until this year, 2025, that he secured ₦120 million at 29% over 15 years. The point being made here is that credit is king.

Personal Identification: Proving You Are Who You Say You Are

Fraud spiked 15% in 2024, according to the Central Bank of Nigeria (CBN). Meaning that lenders now demand ironclad ID to process applications.

Required Documents:

– Valid government ID (National ID, international passport, or driver’s license) – original + 2 photocopies 

– Proof of address (utility bill or bank statement, not older than 3 months) 

– Four passport photographs (2×2, white background) 

– Bank Verification Number (BVN) printout – free from any bank 

Additional tip: If your address on your ID doesn’t match your utility bill, get a sworn affidavit (₦5,000–10,000). Banks reject mismatches outright.

Financial Documents: Showing You Can Pay

Banks want six months of financial transparency.

Core Requirements:

– Bank statements – 6 months, stamped by your bank 

– Proof of income 

  – Salaried: Last 3 payslips 

  – Self-employed: 3 years tax returns + audited accounts 

– Down payment proof – Bank statement showing 10–30% of property value 

– Credit report – From CRC or XDS (₦5,000–10,000) 

Employment Verification: Stability Matters

90% of mortgages go to salaried workers. Self-employed? You’ll need more.

Salaried Applicants:

– Employment letter (HR-stamped, stating position, salary, start date) 

– Introductory letter from employer (confirming loan purpose) 

Self-Employed: 

– CAC registration certificate 

– 3 years tax clearance certificates 

– Audited financial statements 

I know of a guy named Kunle, a freelance graphic designer, whose application was rejected thrice for having no proof of a stable income even though he was making good money with evidence to prove so.. On my advice, he registered his business with the Corporate Affairs Commission (CAC), filed taxes for three years, and partnered with a cooperative. In 2025, he secured a ₦40 million loan through a developer-backed scheme.

Property Documents: The House Must Be Legit

The property is the collateral. If the title is fake, the loan is dead.

Required Documents:

– Offer letter from seller (stamped and signed) 

– Title documents (Deed of Assignment, Survey Plan, Certificate of Occupancy, or Governor’s Consent) 

– Valuation report (independent surveyor, ₦200,000–500,000) 

– Property insurance policy (0.5–1% of value annually) 

Additional Tip: For off-plan properties, demand an indemnity bond from the developer. It protects you if construction stalls.

Common Pitfalls and How to Avoid Them

50% of applications fail due to: 

– Incomplete documents 

– Poor credit 

– Mismatched addresses 

– Unverified titles 

Solutions:

– Start 3–6 months early 

– Use digital tools (DocuSign, bank apps) 

– Hire a mortgage broker (₦100,000 fee, 30% higher approval rate) 

– Verify titles through a lawyer (₦300,000–500,000) 

The Role of Developers in Simplifying the Process

Not all developers are created equal. Some complicate. Others simplify. 

In Lagos, where land disputes and incomplete projects are common, a few developers have earned trust by bundling financing, verified titles, and post-sale support. They don’t just sell bricks—they sell certainty.

Final Steps: From Paperwork to Keys

1. Check your credit – Free via CRC partnership programs 

2. Gather docs – Use a checklist 

3. Choose your lender – NHF for low rates, banks for larger loans 

4. Pick a property– Off-plan saves 20–30%, but verify developer 

5. Apply early– Processing takes 4–12 weeks 

Homeownership is not reserved for the rich. It’s reserved for the prepared. In the end, getting a mortgage loan in Nigeria is not just about meeting bank requirements – it is about planning, patience, and preparation. Every document you gather tells your financial story and builds trust with the lender. Whether it is your payslip, CAC certificate, or property title, each piece brings you closer to owning your home.

The process can be demanding, but with the right guidance and verified information, it is completely achievable. The truth is, Nigerians are slowly moving from the rent-and-regret culture to a new era of structured homeownership. And with credible developers, digital mortgage tools, and more flexible repayment options now in play, there has never been a better time to take that step. Homeownership is no longer a dream for the lucky few – it is within reach for those who prepare right and start early.