Step-by-Step Guide: How to Apply for MREIF Mortgage in Nigeria

Getting started with the MREIF mortgage in Nigeria isn’t complicated once you know what to do. Here’s a simple, realistic guide on how to apply for an MREIF mortgage in Nigeria.

STEP 1: Understand What MREIF mortgage in Nigeria Offers

Before applying, it helps to understand what MREIF mortgage in Nigeria is all about.

MREIF is not just another housing project. It’s a mortgage system designed to help Nigerians buy homes and pay gradually just like rent, but this time, you’ll actually own the house when you’re done paying.

With MREIF, you get:

• Single-digit interest rates (around 9.75%)
• Up to 20 years to repay
• Low 10% down payment
• Access to government-approved housing estates across Nigeria
  

That’s a huge deal compared to traditional bank mortgages that often require 30–40% down payments and charge over 20% interest.

Read more on what MREIF mortgage in Nigeria is all about here.

STEP 2: Confirm That You’re Eligible

Eligibility is a necessity. Many times people apply for things they ought not to apply for simply because they are not informed.

Before you apply for the MREIF mortgage in Nigeria, ensure you meet all the basic requirements. 

You must:

• Be a Nigerian citizen (living in Nigeria or abroad)
• Be at least 21 years old not 18 years.
• Have a steady source of income, either from a job or a business
• Be ready to provide a minimum 10% down payment for the property
  

If you tick all these boxes, you’re qualified to move forward.

STEP 3: Gather Your Documents

This third step is necessary. Before you think of checking the MREIF site, ensure you have the documents required to process the mortgage.

You’ll need to put together:

• A valid means of identification (National ID, Passport, or Driver’s License)
• Proof of income (recent payslips, business account statements, or tax records)
• Bank statements (for at least 6 months)
• Utility bill (to verify your address)
• Property documents from the developer (offer letter, title details, etc.)
  

When these documents are ready, you tend to make the process of getting the mortgage easier.

STEP 4: Choose an MREIF-Approved Property

MREIF works hand-in-hand with selected real estate developers across Nigeria. These developers build homes that meet the platform’s quality, safety, and affordability standards. That means you can’t just pick any random property.

You need to go through the list of approved estates or developers on the official MREIF website or partner banks. These are the ones that meet the fund’s standards for safety, structure, and documentation.

This step will help you avoid buying from fake or unregistered developers which is a major risk in Nigeria’s property market.

Here’s what you can do:

• Visit the official MREIF or MOFI website for listed projects.
• Check verified developers in your preferred state or city (Lagos, Abuja, Ogun, Port Harcourt, etc.).
• Choose a property that fits your budget and family size.
  

The good thing is, MREIF homes are designed to be modern, functional, and affordable, with basic amenities like good roads, power, and water.

STEP 5: Apply Through the MREIF Portal or Partner Bank

Once you’ve picked your property, visit the MREIF application portal or any partner bank (like ARM, FCMB, or Fidelity).

You’ll fill out a simple application form with your details and upload your documents. 

You’ll need to:

1. Fill in your personal and employment details.
2. Submit copies of your valid ID, bank statements, and payslips (or business account proof).
3. Attach your chosen property details and down payment receipt (10%).
   

The bank or MREIF team will then assess your profile to see how much you qualify for, this is called the affordability check. They’ll calculate your monthly income, expenses, and repayment ability to make sure the mortgage fits your budget.

After you submit, your application will be reviewed for approval.

Here is what you can do if your MREIF Mortgage application is rejected.

STEP 6: Wait for Approval and Verification

The review process for the MREIF mortgage in Nigeria usually takes a few weeks.

During this time, MREIF officials and partner banks will:

• Verify your income and identity.
• Inspect the property.
• Confirm your eligibility for the mortgage amount requested.
  

Once approved, you’ll receive a mortgage offer letter, which outlines your repayment plan, interest rate, and timeline.

STEP 7: Sign Your Mortgage Agreement

After your deposit is confirmed, you’ll receive your official mortgage offer letter and legal documents.

Take your time to read and understand the terms, especially your repayment period, interest rate, and total cost. Once you’re satisfied, sign the agreement and keep copies for your records.

STEP 8: Pay the Initial Deposit

If your application is approved, you’ll be asked to pay a minimum of 10% of the property price as your initial deposit.

For example, if your home costs ₦20 million, your deposit will be ₦2 million.

This confirms your commitment and allows the developer to allocate the unit to you.

STEP 9: Move Into Your Home and Start Repayment

After signing your offer letter and completing documentation, you can move into your home. Your monthly repayment will start as agreed. It is similar to rent, but now, every payment brings you closer to owning your home.

Repayment can be spread across 10–20 years, depending on your income level and agreement.

STEP 10: Stay Consistent and Keep Records

Like any loan, when it comes to the MREIF mortgage in Nigeria, consistency is key.

Make sure you:

• Pay your monthly mortgage as due.
• Keep copies of every payment receipt.
• Update your details if your income or job changes.
  

This not only builds your credit record but also ensures a smooth homeownership journey.

What To Do If Your MREIF Mortgage Application Is Rejected?

If your MREIF mortgage in Nigeria application isn’t approved after your documents are reviewed, don’t panic, it doesn’t mean you can never qualify.

In most cases, the rejection happens because of one of these:

• Incomplete or incorrect documents
• Unstable income records or low repayment capacity
• Property not approved under the MREIF scheme
• Credit or background concerns flagged during checks
  

When this happens, MREIF or the partner bank will usually tell you why your application didn’t go through. You can fix those issues. For example, provide clearer income proof, choose another approved property, or reapply once your finances are more stable.

Many people who get rejected the first time eventually get approved after making these corrections. So, it’s not the end, it’s just a signal to prepare better for your next application.

Bonus Tips Before Applying for MREIF Mortgage in Nigeria

1. Check the developer’s credibility — work with verified MREIF developers only.
2. Understand all fees upfront — confirm interest, insurance, and maintenance costs.
3. Get financial advice if you’re unsure about repayment or affordability.
4. Plan your down payment early — start saving now to hit the 10% target easily.
   

Conclusion

The MREIF mortgage in Nigeria is still new, but it’s already changing lives.

Hundreds of Nigerians have used it in 2025 to move from renters to homeowners. So if you’re ready to take that step, start today.

Visit the official MREIF platform or your local mortgage bank for details.

Because the earlier you start, the sooner you can say, “This is my house.”