What drives your repayment
A mortgage repayment is built from the loan amount (price minus deposit), the interest rate and the tenure. In Nigeria the rate makes an enormous difference: a commercial loan at 28% costs far more than an NHF loan at 6%. A bigger deposit or shorter tenure cuts the total interest.
Common questions
Principal and interest on the home loan. It does not include legal fees, insurance or agency fees.
Commercial mortgage rates track the CBN policy rate (around 27%), so they often sit at 25–30%. NHF loans through the Federal Mortgage Bank are far cheaper, around 6%.
If you contribute to the National Housing Fund, you may qualify for a subsidised NHF mortgage. Enter ~6% as the rate to model that.