- Back to:
Joint Mortgage
With our Joint Mortgage loan, you and your spouse can easily buy a property that either party could ordinarily not have been able to purchase as an individual.
Loan Information
Description
Features
Benefits
Required Documents
How to Apply
Description
With our Joint Mortgage loan, you and your spouse can easily buy a property that either party could ordinarily not have been able to purchase as an individual. This loan is flexible and repayment pressure is reduced.
Features
- Applicants are legitimate couples
- Repayment capacity is on both applicants
- Applicants are both financially committed
- Applicants are joint and co-owners of the property
- Loan obtainable is up to N70 million
- Maximum tenor of 240 months (20 years), subject to retirement age
- Minimum equity contribution of 20-30% depending on the location.
Benefits
- Flexible repayment structure
- Loan repayment is distributed between the spouses easing up repayment pressure
- Competitive interest rates.
Required Documents
- Vendor’s offer letter
- Copy of the title documents to the property (ownership must be in the name of the vendor).
- Copy of the approved building plan.
- Personal Home Loan Application form
- Letter for irrevocable domiciliation of salary for the duration of the facility.
How to Apply
To apply for the Personal Home Loan:
- Download the Home Loan Application Form
- Complete the form and submit at the nearest FirstBank branch
FAQs
Yes, provided the spouse’s employer is acceptable to FirstBank.
Registered partners in the professional field as joint owners/obligors who must have been in the business for a minimum of five years and must have been banking with FirstBank for 24 months or two years.
