FirstBank has partnered with the Federal Ministry of Housing to expand access to affordable homeownership by providing mortgage loans of up to N100 million at a single-digit interest rate of 9.75 per cent.
The bank disclosed this in a statement on Tuesday, describing the initiative as part of efforts to reduce the financial challenges many Nigerians face when trying to own a home.
According to FirstBank, the programme offers eligible Nigerians access to government-backed mortgage financing at a competitive interest rate, making it easier for individuals and families to purchase residential properties.
The bank noted that rising property prices and limited access to affordable financing have made homeownership difficult for many citizens, despite the strong desire to own a home.
It explained that the partnership with the Federal Ministry of Housing is aimed at bridging that gap by providing a financing solution that combines affordability, accessibility and long-term sustainability.
FirstBank said the initiative forms part of its commitment to supporting national development and improving the welfare of Nigerians through innovative financial products and services.
The bank added that the mortgage scheme would help more Nigerians move from renting to owning homes while also boosting activities in the housing sector and contributing to broader economic growth.
Interested applicants have been advised to visit FirstBank’s mortgage portal for details on eligibility requirements and application procedures.