When it comes to Mortgage banks in Nigeria, several people have different ideas. Some people think that anything ‘Mortgage’ is a plot to keep them paying loans for the rest of their lives. Others literally have no idea what a mortgage is.
This is understandable because many Nigerians do not have adequate financial information on what mortgages are, their requirements, and how they can benefit from them.
Many banks also intentionally refuse to disclose their interest rates until applications are made, further contributing to the limited information on mortgage financing in Nigeria.
What is a Mortgage loan?
A mortgage loan is a type of loan used to purchase or refinance real estate, including land, a house, or other types of property. A distinctive feature of a mortgage is that the property purchased in itself serves as the collateral for the loan.
What are Primary Mortgage Banks?
According to the CBN, a Primary Mortgage Bank is any company that is licensed to conduct primary mortgage business in Nigeria.
So what are they permitted to do?
Licensed primary mortgage banks in Nigeria are allowed to carry out mortgage financing, real estate construction financing, accept savings and deposits, lend, provide financial advisory services, and other services that the CBN approves from time to time.
Top Mortgage Banks in Nigeria 2025
Deciding on the best mortgage banks in Nigeria is not so easy, because many of them offer great services.
But there are some that really stand out based on trust, popularity due to performance, ease of accessibility of loans, lower interest rates, and excellent customer service.
1. Federal Mortgage Bank of Nigeria
The FMBN is at the apex of mortgage operations in the country, regulating all other primary mortgage banks in Nigeria.
As part of the government’s plans to create affordable housing, the FMBN offers the National Housing Fund loan.
The National Housing Fund was established by Act No. 3 of 1992. According to the act, every Nigerian worker above 18 years old with an income of at least 3000 naira should contribute 2.5% of their monthly income to the NHF.
While NHF loans have a maximum accessible amount of 50million naira, they have interest rates of 6%, giving about the lowest interest rates in the country.
An applicant must have contributed to the scheme for at least 6 months, and the loan is to last for a maximum of 30 years, and must be repaid fully at the age of retirement (60 years).
2. Infinity Trust Mortgage Bank Plc (ITMB)
ITMB is an award-winning mortgage bank that has been recognized for its innovation, growth, and customer service excellence. They are also one of the mortgage banks listed on the Nigerian exchange,
With this bank, you can get up to 500 million naira to buy your dream home at competitive rates (Rates depend on project and amount to be borrowed). They also offer flexible repayment options and a repayment tenor of up to 20 years.
ITMB also offers NHF loans at an interest rate of 6%.
3. Abbey Mortgage Bank
Abbey Mortgage Bank was founded in 1991 with a mission to connect homeowners to affordable housing solutions.
Over the last 3 decades, they have grown to be one of the largest mortgage banks in the country with a market capitalization of 69 billion NGN as of October 2025.
They are one of the four mortgage banks listed in the financial services-mortgage carriers subsector of the Nigerian exchange,
Abbey Mortgage Bank offers mortgage loans with a tenor of up to 10 years, allowing joint spouse borrowing for individuals and competitive interest rates. Note that the loans require a 30% equity contribution.
For women, they offer a special Women in Real Estate (WIRE) package, which provides construction funds to real estate companies or projects that are owned or managed by women. It gives a maximum repayment tenor of 3 years, presents lower interest rates, and gives access to several training opportunities. It, however, requires collateral
4. Platinum Mortgage Bank Limited
Founded in 1992, PMB is one of the oldest Mortgage banks in the country, with 3 regional offices and 13 branches spread across Nigeria.
It was initially known as Platinum Home Investment and Mortgage Limited.
It has served more than 8000 Nigerians, helping them become homeowners through tailored, low-interest-rate loans. Specific interest rates would depend on the property type and the type of mortgage.
For instance, their platinum fast-track mortgage offers a 10% interest rate per annum. This plan also allows you to take possession of property within 48 hrs of meeting the mortgage conditions. and allows repayment spread over up to 25 years
They also offer the NHF loans with an interest rate of 6% and repayment up to 30-year tenor.
5. Living Trust Mortgage Bank PLC
Livingtrust Mortgage Bank is one of the oldest mortgage banks in Nigeria, incorporated in 1993.
For those interested in stocks and dividends, it is one of the 4 listed companies under the financial services-mortgage carriers subsector of the Nigerian exchange.
In 2025, Living Trust has given mortgages of over 500 million naira to its customers.
They offer NHF loans at the 6% P.A and also have other loan packages which have specific competitive rates that can be obtained on application.
For instance, their home improvement loan is tailored to clients who need short-term loans to increase the value of their residential properties. The loan is tenored for a maximum period of 3 years, with a maximum amount of 5 million naira offered.
Mortgage Banks in Nigeria – 2025 Comparison Table
| Mortgage Bank | Interest Rate (P.A) | Loan Tenor | Special Features |
| Federal Mortgage Bank of Nigeria | 6% (NHF Loan) | Up to 30 years | NHF scheme Applicant must contribute 2.5% of monthly income for at least 6 months |
| Infinity Trust Mortgage Bank Plc (ITMB) | 6% (NHF Loan) Custom rates for other loans | Up to 20 years | Listed on NGXRecognized for innovation & customer service |
| Abbey Mortgage Bank | Custom rates Offer WIRE loans at reduced rates | Up to 10 years WIRE: 3 years | Listed on NGX30% equity contributionWIRE program for women-led real estate |
| Platinum Mortgage Bank Limited | 6% (NHF Loan)10% for fast-track mortgage | NHF: Up to 30 yearsFast-track: Up to 25 years | Fast-track mortgage: possession in 48 hrsTailored packages based on property types |
| Living Trust Mortgage Bank PLC | 6% (NHF Loan) | NHF: Up to 30 yearsHome Improvement: 3 years | Listed on NGXHome improvement loansOver ₦500 million disbursed in 2025 |
Conclusion
Deciding on mortgage options in Nigeria would depend on a number of factors, like the amount of the home or property you want to finance, the interest rates, the type of real estate, and the available options offered by the mortgage bank.
This Nigeria mortgage comparison can guide you in making a decision on which mortgage bank to choose. However, it is also advisable to make some research on real estate investment and get professionals to help you decide. Join the SimplVest newsletter for more informative guides and tips.
