In a move aimed at expanding access to housing finance and supporting Nigerians in achieving their property ownership and investment goals, First Trust Mortgage Bank
In a move aimed at expanding access to housing finance and supporting Nigerians in achieving their property ownership and investment goals, First Trust Mortgage Bank has unveiled a range of mortgage and property-financing solutions designed to meet the diverse needs of individuals, self-employed professionals and property developers.
Cablenews24 reports that the products include Outright Purchase Mortgage, Outright Purchase Mortgage under the NMRC framework, Construction Mortgage, Construction Finance and Equity Release.
The solutions are structured to provide customers with financing flexibility, competitive repayment options and access to funds for purchasing, constructing or unlocking value from residential properties.
Financing the Dream of Homeownership
For individuals seeking to purchase completed properties, the Outright Purchase Mortgage provides financing of up to N250 million, with a tenor of up to 10 years. The facility is available to salary earners in the private and public sectors as well as self-employed professionals with satisfactory business track records.
Customers are required to provide an equity contribution of 20 percent for salary earners and 30 percent for self-employed applicants, while repayment is structured around monthly principal and interest payments.
The product also offers the flexibility of joint mortgages for spouses, allowing couples to combine their resources towards homeownership.
Longer Tenor Through NMRC-Backed Mortgage
For customers seeking a longer repayment period, the Outright Purchase Mortgage (NMRC) offers a tenor of up to 20 years, subject to applicable underwriting requirements.
The facility requires an equity contribution of 20 per cent for salary earners and 40 per cent for self-employed customers, with an obligor limit of N50 million for individual customers.
Building Homes, One Milestone at a Time
Recognising that many Nigerians prefer to build their homes rather than purchase completed properties, FirstTrust Mortgage Bank’s Construction Mortgage is designed to provide financing for the development of residential properties.
The facility offers a tenor of up to 10 years, with funds disbursed in tranches according to agreed project milestones. It is available to individuals in paid employment, public-sector employees and self-employed professionals with satisfactory business records.
Customers can contribute 20 per cent equity if they are in paid employment and 40 per cent if self-employed. The facility can also be used for completion finance, helping customers move unfinished residential projects towards completion.
Construction Finance for Estate Developers
Beyond individual homeowners, the bank’s Construction Finance product targets corporate entities and estate developers seeking funding to construct housing estates.
The facility provides financing for up to three years, with disbursement tied to agreed construction milestones. Developers are expected to provide 50 per cent equity contribution, alongside adequate collateral.
The product also incorporates risk-mitigation requirements, including life insurance for developers for not less than 50 per cent of the principal.
Unlocking Value Through Equity Release
For property owners who already have investments in real estate, the Equity Release facility provides an opportunity to unlock part of the value of their properties for approved financial needs.
Under the product, eligible customers may access up to 70 per cent of the property’s Open Market Value, subject to a maximum facility of N200 million, valid title documentation and the bank’s risk acceptance criteria.
One of the key attractions of the product is that no additional equity contribution is required, while customers enjoy flexible repayment arrangements and access to funds for their identified needs.
A Broader Approach to Housing Finance
The range of products reflects a broader approach to mortgage banking—providing solutions not only for customers looking to buy homes, but also for those who want to build, complete existing projects, invest in property or unlock the value of their real estate assets.
With flexible tenors, structured repayment plans and financing options tailored to different customer segments, the bank is positioning its mortgage offerings as practical tools for individuals, families and developers seeking to participate more actively in Nigeria’s housing and real estate market.
Speaking on the launch, The MD/CEO of First Trust Mortgage Bank, Dr. Korede Adedayo stated that “At First Trust Mortgage Bank, we understand that owning a home is more than a transaction, it is about security, dignity, and building the future. These products were developed to remove barriers to homeownership and to support developers in delivering quality housing. Whether you are buying your first home, building your dream house, or unlocking value from existing assets, we are here to make the process clear, fair, and certain.”
FirstTrust Mortgage Bank, a leading mortgage institution committed to expanding access to affordable housing in Nigeria. The Bank partners with individuals, families, and developers to provide transparent, customer-focused mortgage solutions that drive homeownership and community development.
In a move aimed at expanding access to housing finance and supporting Nigerians in achieving their property ownership and investment goals, First Trust Mortgage Bank has unveiled a range of mortgage and property-financing solutions designed to meet the diverse needs of individuals, self-employed professionals and property developers.
Cablenews24 reports that the products include Outright Purchase Mortgage, Outright Purchase Mortgage under the NMRC framework, Construction Mortgage, Construction Finance and Equity Release.
The solutions are structured to provide customers with financing flexibility, competitive repayment options and access to funds for purchasing, constructing or unlocking value from residential properties.
Financing the Dream of Homeownership
For individuals seeking to purchase completed properties, the Outright Purchase Mortgage provides financing of up to N250 million, with a tenor of up to 10 years. The facility is available to salary earners in the private and public sectors as well as self-employed professionals with satisfactory business track records.
Customers are required to provide an equity contribution of 20 percent for salary earners and 30 percent for self-employed applicants, while repayment is structured around monthly principal and interest payments.
The product also offers the flexibility of joint mortgages for spouses, allowing couples to combine their resources towards homeownership.
Longer Tenor Through NMRC-Backed Mortgage
For customers seeking a longer repayment period, the Outright Purchase Mortgage (NMRC) offers a tenor of up to 20 years, subject to applicable underwriting requirements.
The facility requires an equity contribution of 20 per cent for salary earners and 40 per cent for self-employed customers, with an obligor limit of N50 million for individual customers.
Building Homes, One Milestone at a Time
Recognising that many Nigerians prefer to build their homes rather than purchase completed properties, FirstTrust Mortgage Bank’s Construction Mortgage is designed to provide financing for the development of residential properties.
The facility offers a tenor of up to 10 years, with funds disbursed in tranches according to agreed project milestones. It is available to individuals in paid employment, public-sector employees and self-employed professionals with satisfactory business records.
Customers can contribute 20 per cent equity if they are in paid employment and 40 per cent if self-employed. The facility can also be used for completion finance, helping customers move unfinished residential projects towards completion.
Construction Finance for Estate Developers
Beyond individual homeowners, the bank’s Construction Finance product targets corporate entities and estate developers seeking funding to construct housing estates.
The facility provides financing for up to three years, with disbursement tied to agreed construction milestones. Developers are expected to provide 50 per cent equity contribution, alongside adequate collateral.
The product also incorporates risk-mitigation requirements, including life insurance for developers for not less than 50 per cent of the principal.
Unlocking Value Through Equity Release
For property owners who already have investments in real estate, the Equity Release facility provides an opportunity to unlock part of the value of their properties for approved financial needs.
Under the product, eligible customers may access up to 70 per cent of the property’s Open Market Value, subject to a maximum facility of N200 million, valid title documentation and the bank’s risk acceptance criteria.
One of the key attractions of the product is that no additional equity contribution is required, while customers enjoy flexible repayment arrangements and access to funds for their identified needs.
A Broader Approach to Housing Finance
The range of products reflects a broader approach to mortgage banking—providing solutions not only for customers looking to buy homes, but also for those who want to build, complete existing projects, invest in property or unlock the value of their real estate assets.
With flexible tenors, structured repayment plans and financing options tailored to different customer segments, the bank is positioning its mortgage offerings as practical tools for individuals, families and developers seeking to participate more actively in Nigeria’s housing and real estate market.
Speaking on the launch, The MD/CEO of First Trust Mortgage Bank, Dr. Korede Adedayo stated that “At First Trust Mortgage Bank, we understand that owning a home is more than a transaction, it is about security, dignity, and building the future. These products were developed to remove barriers to homeownership and to support developers in delivering quality housing. Whether you are buying your first home, building your dream house, or unlocking value from existing assets, we are here to make the process clear, fair, and certain.”
FirstTrust Mortgage Bank, a leading mortgage institution committed to expanding access to affordable housing in Nigeria. The Bank partners with individuals, families, and developers to provide transparent, customer-focused mortgage solutions that drive homeownership and community development.