LOW-INTEREST MORTGAGE RATES IN NIGERIA ??

LOW-INTEREST MORTGAGE RATES IN NIGERIA ??

The “ Best Kept Secret “………..

The “Rat Race “for a young upwardly mobile professional in Lagos can be such a depressing annual vicious cycle………

  • Get Paid….
  • Pay Bills…….
  • Pay Children’s School Fees.
  • Pay Million Naira Rent…
  • Go Broke
  • Repeat…

The statistics are shocking!! 85% of professionals in Lagos still live in rented apartments after 10 years of working. Sadly, rent charges keep climbing, making the possibility of ever owning your own home even more & more remote. It’s a “Catch 22 Situation “……

 Mortgage loans in Nigeria can be cut-throat and “Beyond the Reach “of the average professional. Yet, the chances of getting “Bulk Money “to build without a cut-throat loan is almost zero!

But all hope is not lost……

Do you know that the National Housing Fund (NHF) can give you access to loans for building your own home at only 6% per annum??      

KNOWLEDGE IS POWER …. HELP is now “Within Your Reach “

Eligibility For (NHF)

  • Be above the age of 18 years
  • The applicant must have satisfactory evidence of regular flow of income to guarantee loan repayment
  • Contribute 2.5% of their monthly salary for a minimum of 6 months to Federal Mortgage Bank of Nigeria, managers of the fund.

How to Apply For National Housing Fund (NHF)

Except for institutional borrowers who can apply for the loan directly from Federal Mortgage Bank of Nigeria (FMBN), individuals can only apply through a duly licensed and accredited Primary Mortgage Bank (PMB) of their choice and not directly to the FMBN. Loan applications are also to be obtained from the same PMB.                              

What are the documents required when applying for the loan?
Documents required to process the loan include:
a) Completed application form
b) Photocopy of title documents
c) Current valuation report on the proposed house to buy or bill of quantities for the house to build.                                                          
d) 3 years tax clearance certificate
e) Evidence of NHF participation
f) Copy of pay slips for previous 3 months
g) 10% personal stake (contribution of 10% cost of the house)

So what is the Maximum loan amount?
The maximum is 15 million Naira only. Also your calculated monthly loan deductibles must not exceed 33% of monthly gross income.

For example, a 35 years old applicant on a monthly salary of N60, 00.00 interested in building a house estimated to cost N7 Million. He has 25 years to go before clocking 60 years, the loan amount is calculated as follows:

Loan ceiling = (N60,000/3) x 12months x 25years
                      = N20, 000 x 12 x 25
                      = N6, 000,000.00 (Less annuity interest factor of 6%)

NOW THAT’S DOABLE, RIGHT??

At 3CEES Projects, we believe “Affordable Housing “on the Island must not necessarily be “ Beyond Your Reach “

Book an appointment with us TODAY for a FREE CONSULTATION

Tell: +234 (0)708 137 9023, +234 (0)807 588 2750 Email: info@3ceesprojectslimited.com

Twin Duplex Partnership Program (TDPP)

Twin Duplex Partnership Program (TDPP)

Frequently Asked Questions

Actual TDPP Twin-Duplex Design

Q1. What exactly is TDPP?

TDPP stands for Twin-Duplex Partnership Program. It is a Dual-Purpose Investment Vehicle that allows you to have the FLEXIBILITY of participation either as:

  1. A medium-term investor who desires a LOW RISK – HIGH YIELD TANGIBLE ASSET (Real Estate) in a strategically located fast developing area that can readily be converted back to cash within a short time. OR
  2. A potential home owner looking for a Clearly Defined Installment Payment Plan capable of building a Twin-Duplex in a well-managed estate (From START – FINISH), without severely impacting YOUR CASH FLOW.

Q2. How does it work?

  1. Two DUPLEXES are built on 1 PLOT OF LAND
  2. Two work colleagues, having the same ambition, can come together & FIRST pay (IN INSTALLMENTS) for the FULL PLOT of land TOGETHER.
  3. After completing their installment payment, they can then go ahead together to the PHASE-2 (ACTUAL CONSTRUCTION OF THE TWIN DUPLEXES).
  4. The construction phase is divided into SIGNIFICANT CONSTRUCTION MILESTONES spanning 3 years, allowing each participant to build MUCH CHEAPER than attempting to build ALONE.

Q3. What are the BENEFITS of TDPP?

  • DISCOUNTED Entry Level Price
  • CONVENIENT Payment Plan
  • LIQUIDITY
  • REDUCED Future Building Cost
  • ACCESS NHF 6% Housing Loan
  • FIRST CLASS Estate Management
TDPP Twin-Duplex Layout

Q4. How is the payment plan convenient?

There are various payment plans ranging from Instant to 24-months. Each client can choose from our standard payment plans or a customized payment plan can be made to fit individual objectives and convenience.

Q5. What is the “Investor Option”?

For those who do not wish to live in the estate (those living in diaspora or already have a house) and are more interested in using it as an investment option, we can help with:

  1. Sourcing for tenants interested in an annual rent arrangement
  2. Help design a FULLY FURNISHED SERVICED APARTMENT, that we can manage on your behalf as SHORT-LET APARTMENTS for rent.
  3. Convert the property to CASH by helping you sell at a much higher current value.

Q6. Where is the TDPP Estate(s) Location?

  1. The first is Graceville Garden Estate located on Monastery road, behind the Novare (Shoprite) Mall Sangotedo, Lekki
  2. We also have similar project planed for Peninsular Pride Estate 1 & 2, located at Ibeju Lekki, close to the Lagos Free Trade Zone.

Q7. Who are our “Targeted Clients”?

Our program is targeted at well-structured companies, where monthly installment payments are regular and timely. That does not stop Entrepreneurs or Business men from participating. It just means that the individual negotiations will be handled on a case by case basis.

Call Now while offer Last!!

Tell: +234 (0)708 137 9023, +234 (0)807 588 2750 Email: info@3ceesprojectslimited.com
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