FirstBank’s MREIF mortgage loan product is an opportunity waiting for Nigerians to grab, as FirstBank, Ministry of Finance Incorporated (MOFI) partner to bridge housing deficit and empower citizens with credit to own their own homes of choice in any 36 states of the federation including Federal Capital Territory (FCT).
This laudable initiative considers the importance of shelter to Nigerian citizens especially low and middle income earners that have to save for years before they can build for themselves. It aims at delivering homes to those who would apply without stress, putting smiles on the faces of Nigerians now, and during retirement.
Through MREIF, FirstBank will provide eligible customers with access to loans of up to N100 million with a repayment period of up to 20 years, at an attractive interest rate of 9.75% per annum. This is less than the usual interest rate on regular loans which sit at about 27% or more today. The repayment duration of 20 years makes the loan attractive for customers without stress.
The mortgage facility is available to salary account holders, business owners, and diaspora customers.
