Let’s be honest, renting in Nigeria can test your faith. Every December, while others are planning Detty December, your mind is on that text from your landlord: “Good afternoon, just reminding you that rent is due.”
From crazy rent jumps to agents that collect “inspection money” and vanish, housing stress is a national sport. But what if your rent money could actually build your own home?
That’s where the Ministry of Finance Incorporated Real Estate Investment Fund comes in. They’re making home ownership easier for regular Nigerians, both those living in Nigeria and those abroad.
Here’s a step-by-step guide to moving from a chronic renter to owning your own home:
Step 1: Create your MREIF Homebuyer’s account
Visit www.mreif.com.ng and sign up to create your homebuyer profile. This is your first step toward turning rent payments into mortgage payments that build your own equity.
Step 2: Explore verified properties and choose your home
Browse the list of MREIF-certified housing projects across Nigeria. These properties are vetted and backed by MREIF, so you don’t have to worry about incomplete or unreliable developments. Pick the home that fits your budget and lifestyle.
If you cannot find a property on the site that matches what you want, you can also bring a property that you find from any reputable developer and begin the application process.
Step 3: Apply and get pre-approval
Once you’ve selected a property, submit your application through the MREIF portal or visit any of the approved partner banks. You’ll receive pre-approval, giving you clarity on how much you can borrow and helping you plan your purchase confidently.
Step 4: Secure a low-interest mortgage and start paying
MREIF offers mortgages at single-digit interest rates at 9.75%, with flexible repayment options of up to 20 years. Make your initial payment and grab the keys to your new home!
#FeaturedPost
