A Smarter Way to Own Your Home

Qualified Nigerians can access long-term mortgage financing at a fixed 9.75% p.a. with the Sterling Bank MREIF Home Loan.

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The MREIF Home Loan, powered by Sterling Bank, offers qualified Nigerians access to long-term mortgage financing at a fixed rate of 9.75% per annum through our partnership with the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF).

Designed for salary earners, business owners and Nigerians in the diaspora, this facility supports the purchase of completed residential property in Nigeria with structured repayment of up to 20 years.

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Lock In a 9.75% Fixed Interest Rate

Enjoy a fixed rate for the entire duration of your mortgage with no rate fluctuations.

Spread Your Payments Over Up to 20 Years

Structure your mortgage with a long-term repayment plan designed for stability.

Finance Up to 90% of Your Property Value:

Own your home with a minimum 10% equity contribution.

Unlock Loans of Up to ₦100 Million

Choose from a wide range of completed residential properties with flexible financing.

Apply from Nigeria or the Diaspora

Qualify whether you live locally or abroad, subject to eligibility criteria.

Unlock Loans of Up to ₦100 Million

Choose from a wide range of completed residential properties with flexible financing.

Apply from Nigeria or the Diaspora

Qualify whether you live locally or abroad, subject to eligibility criteria.

Who Can Apply?

  • Salary earners with verifiable income
  • Business owners with documented financial records
  • Nigerians resident in the diaspora and at home
  • New and existing Sterling Bank customer
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Frequently Asked Questions

What is the MREIF Home Loan?

The Sterling MREIF Home Loan is a strategic partnership with the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) through ARM Investment Managers. Under the structure, Sterling Bank is allocated a 10 billion origination window to provide long-term, fixed-rate mortgage financing to eligible salaried and business owners purchasing completed residential properties in Nigeria.

What are the key features?
  • Interest Rate: 9.75% per annum (fixed for the entire tenor)
  • Maximum Loan Amount: Up to ₦100 million
  • Minimum Loan Amount: ₦10 million
  • Financing: Up to 90% of property value
  • Minimum Equity Contribution: 10%
  • Repayment Tenor: Up to 20 years (subject to eligibility)
Who is eligible?

Salaried IndividualsBusiness Owners/Self-Employed
  • Minimum age: 21 years
  • Must not exceed age 55 (or official retirement age) at loan maturity
  • Minimum 6 months confirmed employment with current employer
  • Salary domiciliation with Sterling Bank required
  • Must have received most recent salary into Sterling account
  • Verifiable business cash flow
  • Minimum of 3 months of active banking relationship with Sterling Bank
  • Company must have been in business for a minimum of 3 years
  • Satisfactory financial documentation
  • Repayment capacity assessed based on income stability
What type of property qualifies?

Fully completed residential properties only, including

  • Duplexes
  • Bungalows
  • Completed residential apartments

All properties must:

  • Have registered title
  • Pass valuation and physical inspection
  • Meet Sterling’s Risk Acceptance Criteria (RAC)
  • Be legally mortgageable

Land purchase and construction financing are not covered.

What documents are required?

Personal DocumentProperty DocumentsTitle Documents
  • Completed mortgage application form
  • Valid means of identification
  • Work ID
  • Employer introduction letter (confirming employment & salary)
  • 3 months’ pay slips and 6 months’ bank statements (with salary evidence)
  • Twelve (12) months’ Statement of Account for business owners, demonstrating verifiable
    and consistent cash flow.
  • Offer letter from vendor
  • Registered title documents
  • Survey plan
  • Satisfactory search report
  • Certificate of Occupancy (C of O)
  • Deed of Assignment
  • Deed of Sublease
  • Deed of Transfer
  • Deed of Consent
  • Deed of Conveyance
  • Deed of Assent
  • Any other registered title with Governor’s Consent
What collateral is required?

A legal mortgage on the property being financed serves as collateral for the facility.

Is insurance mandatory?

Yes. The following are mandatory:

  • Mortgage Life Insurance
  • Fire & Special Perils Insurance
  • Job Loss Insurance (where applicable)


Sterling Bank will be named First Loss Payee.

Are joint applications allowed?

Yes, joint applications are allowed with a spouse only.

The primary applicant must:

  • Domicile salary with Sterling Bank
  • Meet eligibility criteria
  • Both applicants must satisfy documentation and credit conditions
What locations are eligible?

All 36 states of the Federation and the Federal Capital Territory (FCT), subject to internal approval criteria.

Can I prepay the loan?

Yes. Customers can prepay or part-liquidate the facility without penalty.

Can I purchase more than one property?

Only one property can be financed under the MREIF scheme. Additional properties may be financed under other Sterling mortgage products.

Can I use my pension for an equity contribution?

Yes. Under PenCom guidelines, eligible applicants may use up to 25% of their Retirement Savings Account (RSA) balance toward equity contribution.

Eligibility includes:

  • Active RSA with any accredited Pension Fund Administrator
  • At least 60 months of pension contributions
  • Not within three years of official retirement age
  • Minimum monthly salary: ₦500,000

Joint applicants (spouses) may combine their RSAs if managed by different PFAs.

Where can I find properties?

Customers are encouraged to source properties independently. Supply support may be provided by Sterling’s real estate partners, subject to due diligence.

E.g :  Click MREIF to see enlisted properties.

Can Nigerians in the diaspora apply?

Yes. Qualified Nigerians abroad are eligible, subject to credit and income verification.

Start Your Home Ownership Journey

The Sterling Bank MREIF Home Loan is designed to give you structured, affordable access to property ownership.

Complete the form below to begin your application.

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