All mortgage plans
MREIF Mortgage
Interest rate
9.75% p.a.
Max tenure
20 years
Min. equity
10%
How it works
MREIF Mortgage extends up to 90% of a property's price as a loan, fixed at 9.75% per annum, repayable over as much as 20 years. You cover the remaining 10% (or more) as equity upfront — putting more down shortens your monthly payment and total interest.
Use the quick estimate alongside this page to see what a specific property price would look like under this plan, or open the full calculator to compare it against every other plan LastRent offers.
Open the full calculatorQuick estimate
Calculate your payment
₦
₦
10%
₦2,500,000
MREIF Mortgage9.75% p.a. · fixed
20 yrs
Estimated monthly
₦213,416
Over 240 monthly payments
Not eligible · DTI 42.7% exceeds the 33% cap
Principal 44%Interest 56%
Loan amount₦22,500,000
Total interest₦28,719,910
Total repayment₦51,219,910
DTI ratio42.7% / 33% cap