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How To Apply For The FirstBank Personal Home Loan(Mortgage)

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FirstBank Personal Home Loan
Photo Credit: FirstBank Of Nigeria

The FirstBank Personal Home Loan(Mortgage) is one of the mortgage options available on the internet. And although most Nigerians are yet to take advantage of Mortgage options in the country we hope this will change with time.

FirstBank Personal Home Loan(Mortgage) is aimed at three categories of individuals. The first is those who wants to get their first home. The second are those who are constructing a new home. And lastly those persons who are renovating their homes.

Features of The FirstBank Personal Home Loan(Mortgage)

Below are some of the features of this mortgage loan option from FirstBank of Nigeria

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  • It is available to persons with verifiable and steady income flow(salary earners of business owners).
  • Maximum tenor is 20 years, subject to retirement age of 60 years
  • Simplified Documentation
  • Minimum down payment of below 30%, subject to the location
  • Has Competitive interest rates
  • No equity contribution is required for Home Equity Refinancing
  • Property to be financed must be residential and not for commercial purpose.
Required Documents To Applying For The FirstBank Personal Home Loan(Mortgage)

Below are some of the documents you need before you can/should start the loan application process

  • Application letter
  • Your Personal Home Loan Application Form. CLICK HERE to download the form.
  • Last 3 months payslip
  • Statement of accounts(If you have multiple accounts please provide the statement of those accounts too. This will increase your chances of getting the loan approval).
  • Applicant’s letter of total emolument(This is the letter containing how much you earn monthly from your work or job).
  • Confirmation of applicant’s employer on FBN approved list
  • Valid title document
  • Letter for irrevocable domiciliation of salary for the duration of the facility.

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Who Can Apply For FirstBank Personal Home Loan(Mortgage)
  • Employees in paid employment.
  • Persons with Firstbank account.
  • Business owners with Firstbank account.
  • People who receive their salary via Firstbank.
How To Apply For FirstBank Personal Home Loan(Mortgage)

The Application process is a very simple one, just download the FirstBank Loan application form, fill it offline and take it to the nearest FirstBank branch. Use the link above to download the Form. You can CLICK HERE to make use of the Mntrends Loan Calculator to help you calculate the Loan interest rates.

While there are other Home Loans available on the internet and different banks, the FirstBank Personal Home Loan(Mortgage) is worth your consideration. Don’t hesitate to share this article on Facebook and Twitter to help others know about this Loan offer from the FirstBank of Nigeria.

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