Mortgage Calculator
Estimate your monthly mortgage payments and plan your property purchase with confidence.
Calculate Your Payment
₦50,000,000
₦5,000,000₦500,000,000
20% (₦10,000,000)
0%90%
18%
1%35%
20 years
1 year30 years
Estimated Monthly Payment
₦617,325
Loan Amount
₦40,000,000
Down Payment
₦10,000,000
Payment Breakdown
Total Principal
₦40,000,000Total Interest
₦108,157,906Total Cost₦148,157,906
What is a Mortgage?
A mortgage is a loan used to purchase property. You repay the loan amount plus interest over a set period. The property serves as collateral for the loan.
Nigerian Mortgage Rates
Mortgage rates in Nigeria typically range from 6% (NHF) to 25% (commercial banks). The National Housing Fund offers the most competitive rates for eligible contributors.
Tips for Buyers
A larger down payment reduces your monthly payments and total interest. Aim for at least 20% down to get better rates and avoid additional fees.