In order to transform the landscape of affordable housing in Nigeria, Homebase Mortgage Bank has secured an initial ₦3.5 billion facility under the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF).
The funding, backed by the Federal Government and administered by ARM Investment Managers, marks a major milestone in the implementation of the Renewed Hope agenda for nationwide housing development.
The facility is part of a broader strategy to deepen mortgage accessibility for Nigeria’s low- and middle-income earners groups often left out of formal housing finance schemes.
As one of the country’s most experienced and forward-thinking mortgage institutions, Homebase Mortgage Bank has been identified as a key partner capable of driving impact at scale.
“This funding is more than just a capital injection. It’s an endorsement of our model and a reaffirmation of the role we play in the national housing ecosystem,” said Arinze Adigwe, Managing Director of Homebase Mortgage Bank.
“We are committed to extending affordable mortgage options to the everyday Nigerian, bridging the divide between hope and homeownership.”
With this new facility, Homebase will begin rolling out mortgage products at highly competitive terms. Loans will be offered at interest rates as low as 12% per annum, with repayment periods of up to 20 years. When combined with support from Family Homes Funds Limited (FHFL), some borrowers could qualify for single-digit interest rates below 10%.
Prospective homeowners will be able to access loans up to ₦100 million with just a 20% down payment dramatically improving affordability for many Nigerians.
The bank is also launching new initiatives to support uptake, including digital mortgage application platforms for faster processing, advisory services tailored for first-time homeowners, and educational forums to raise awareness in communities across major cities.
With a 20-year legacy of service in the mortgage banking sector, Homebase continues to push the frontier of innovation and integrity in financial services. Its efforts under the MREIF framework are not only designed to finance houses but to build resilient communities and empower thousands of Nigerians with the stability of homeownership.
“The MREIF fund is a mandate to accelerate social impact,” Adigwe added. “It’s about more than numbers, it’s about transforming lives and securing futures.”
