You live in the UK, US, Canada or another country, earn your income there, but want to own a home in Nigeria. Maybe you're tired of sending money home for rent, or you want a property for your family or eventually for yourself. The question is: can you use a Nigerian mortgage while living abroad? Yes. Nigeria now has mortgage routes specifically designed for Nigerians in the diaspora. The NiDCOM/FMBN Diaspora Mortgage Scheme allows eligible Nigerians living and working abroad to apply, including through an online process. But being a Nigerian living overseas does not automatically mean you qualify.
Proving your identity and overseas income
- A valid Nigerian international passport
- Proof of residence or residence permit
- Recent payslips and employment verification
- Business registration documents for self-employed applicants
- Credit information, where requested
- NHF participation, with registration guidance if you don't have an NHF number
If you're earning £4,000 or $6,000 a month abroad, don't assume the lender will simply convert that income to naira and approve a mortgage. You need to be able to document and verify it.
The property you want to buy also matters
Being financially qualified does not mean every property in Nigeria can be financed with your mortgage. The property still needs to satisfy the applicable lender and mortgage programme requirements, including title and valuation requirements. This becomes particularly important for diaspora buyers because you may be thousands of kilometres away from the property. You should have someone independently verify the property's ownership, documentation, valuation and transaction structure before transferring a substantial amount of money. A mortgage can help you finance a property, but it does not replace property due diligence.
Newer financing options worth understanding
MREIF's current programme is open to Nigerian citizens and advertises mortgages at 9.75% per annum for up to 20 years, with equity contributions from 10%, subject to the programme and participating lender's requirements. Its platform also recognises diaspora users and reports interest from Nigerians in multiple countries. This means a Nigerian abroad should not assume that the only possible route is a traditional cash purchase or sending money to family to buy on their behalf.
At HausPlenti, we would start by understanding where you live, how you earn, your existing financial obligations, how much equity you have available and the type of property you want to buy in Nigeria. From there, we can help you understand your potential mortgage options, prepare the required documentation and work through the property-financing process. You don't need to wait until you return to Nigeria to start planning your mortgage.
If you're serious about buying a home in Nigeria, don't start by sending money to a relative or paying a developer because the property looks attractive online. Start by understanding your financing capacity and the requirements for the property you want to buy.
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Start Your HausPlenti Mortgage Readiness AssessmentMortgage eligibility, rates, loan limits and documentation requirements vary by programme and lender. The information above reflects published programme information available at the time of writing and does not constitute a mortgage offer or approval.