AG HomeNet

Our Homenet product is designed to help Nigerians based abroad to achieve their desire of owning a home in Nigeria. We help to remove the attendant challenges in identifying suitable homes, appropriate finance, and reliable and trusted partners. We provide access to Access to vetted Grade A Developers. We provide you with access to fully documented building stock from our partner Property Developers, as well as access to vetted Property Developers.

Features

Transparent loan terms built to support sustainable homeownership.

Eligibility

Nigerians in the diaspora with valid identification, proof of residency abroad, a verifiable source of income (employment or business)

Currency

All transactions (Disbursement and Repayment) denominated in Nigerian Naira (N)

Loan Amount

Up to 70% of the cost of the property but not exceeding N100 million

Tenor

Maximum seven (7) years subject to borrower’s age and retirement horizon.

Security

A legal mortgage over the collateral property supported by registered title documents (such as the Certificate of Occupancy and Deed of Assignment), personal guarantee and/or additional security where applicable, mortgage protection or key-man insurance and property insurance policies, together with access to our nationwide pool of fully documented and perfected property development schemes.

Benefits to Borrower

Removes exposure to pitfalls in the property construction/ acquisition process

Access to funds from a reliable and trusted lender

Remote property inspections

Up-to-date progress reports

Access to curated Legal & Advisory services for contract management

FAQs

Who is eligible to apply for this loan?

Eligible applicants are property owners with verifiable income and good credit standing. Applicants must also meet age and retirement criteria to align with the loan tenor.

How much can I borrow under this facility?

You can access up to 25% of your property’s Forced Sale Value (FSV), subject to the bank’s single obligor limit and overall credit assessment.

What is the maximum repayment period for this loan?

The loan has a maximum tenor of three (3) years, depending on your age, income stability, and proximity to retirement.

What interest rate and fees apply to this loan?

The loan is priced at the prevailing mortgage interest rate, with a 1% management fee and standard charges such as legal/perfection fees, insurance premiums, and other fees under the bank’s tariff.

What security is required before the loan can be granted?

Security includes a legal mortgage over the registered title of the pledged property. Additional requirements may include a third-party or corporate guarantee, undated cheques, and a Remita/NIBSS debit mandate.

What can I use the loan for?

The loan can be used for property upgrades, renovations, structural repairs, extensions, retrofits, energy-efficiency improvements, or adding modern amenities to enhance comfort, safety, and property value.

What are the benefits of taking this loan?

Borrowers enjoy access to affordable renovation funding, competitive pricing, increased property value, flexible repayment options, and the ability to upgrade their home without depleting personal savings all while improving comfort and long-term living standards.

Couldn’t find what you were looking for? Visit our Helpdesk or write to us at help@agmortgagebankplc.com