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

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.

  • 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)
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

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.

Personal Document Property Documents Title 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.

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.

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

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

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

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

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.

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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