From Dreaming to Owning: How Terra is Flipping the Script on Mortgages in Nigeria
“Individuals earning around N500,000 monthly can now own homes in Nigeria through mortgage schemes!”
In the words of our General Manager, Sales and Marketing – Mr Emmanuel Ekwe, at the launch of Olivia Gardens, Ogudu: “while many Nigerians still struggle to afford homes, government-backed mortgage programmes are helping to address the housing challenge”.
He said: The mortgage system in Nigeria is improving steadily, and the Federal Government, through the Ministry of Housing, is committed to making home ownership more accessible.
“Today, if you earn between N500,000 and N600,000 monthly, you should be able to obtain a mortgage and own a home. Previously, people had to pay cash upfront, but now you can pay a small equity contribution and spread the balance over 20 years.”
“Mortgage schemes enable N500,000 earners to own homes in Nigeria”
Similarly, our Managing Director – Mr Kola Ashiru-Balogun, emphasized that Mortgages are now fully available in Nigeria: “gone are the days when people paid N100m cash for a house. That model is unsustainable.”
“With programmes like the MRIEF, FHF, and NHF, opportunities are much better. NHF rates are around 6.5 per cent, FHF about 10 per cent, and MRIEF also within that range. So, this is actually a good time to buy a home in Nigeria”
On the importance of mortgages, the Chief Executive Officer of Imperial Homes Mortgage Bank, Mr. Ayodele Olowookere, noted that mortgages help hedge against inflation and support long-term asset growth.
“At Terra Developers, we don’t just build homes, we build opportunities for ownership.”
Own your future with confidence, Terra Developers makes homeownership simple and attainable.
At Terra Developers, we make homeownership accessible through flexible mortgage solutions tailored to your goals. In partnership with trusted financial institutions, we provide transparent, reliable pathways to property ownership, helping you invest confidently in your future.
For more information, Call/WhatsApp: 📞 0912-500-0558 | 0818-994-4001
