{"id":1796,"date":"2016-09-23T11:15:14","date_gmt":"2016-09-23T11:15:14","guid":{"rendered":"http:\/\/www.tolet.com.ng\/blog\/?p=1796"},"modified":"2018-09-12T10:59:17","modified_gmt":"2018-09-12T09:59:17","slug":"6-steps-to-getting-a-successful-mortgage","status":"publish","type":"post","link":"https:\/\/propertypro.ng\/blog\/6-steps-to-getting-a-successful-mortgage\/","title":{"rendered":"6 Steps to Getting a Successful Mortgage in Nigeria"},"content":{"rendered":"

Getting a mortgage in Nigeria is not as herculean as most people perceive. It just requires you to plan well ahead so as to avoid\u00a0being stuck in\u00a0the process.<\/span><\/p>\n

In my previous article<\/a>, I suggested an idea\u00a0about paying up mortgage<\/a>\u00a0by renting the mortgaged\u00a0property out. In the same article, I\u00a0also pointed out 3 trivial reasons people don\u2019t buy the\u00a0idea which are as follows:<\/span><\/p>\n

    \n
  1. Having to find renters all the time<\/span><\/li>\n
  2. Managing the property takes time and is a hassle at times (making repairs, etc.)<\/span><\/li>\n
  3. Simple in-action. \u00a0Most people \u201cknow\u201d how to make money, but very few take the steps to do it.<\/span><\/li>\n<\/ol>\n

    I went further to list 6 steps to adopt such idea\u00a0successfully, but not in details. Hence, I am now highlighting these steps in details as further clarification.<\/span><\/p>\n

      \n
    1. Decide on the <\/span>property you wish to buy<\/span><\/a><\/li>\n
    2. Get the <\/span>best mortgage service<\/span><\/a><\/li>\n
    3. Get qualified for a mortgage<\/span><\/li>\n
    4. Find a tenant for the property on <\/span>ToLet.com.ng<\/span><\/a><\/li>\n
    5. Find a <\/span>property manager<\/span><\/a> as well<\/span><\/li>\n
    6. Pay up your mortgage in no time<\/span><\/li>\n<\/ol>\n

      Decide on which Property you prefer<\/b><\/h2>\n

      With some mortgage packages, you have no choice to make in terms of the type of property you want to buy especially government mortgages as in the Lagos State Rent-to-Own Scheme for low-income earners<\/a>. However, when dealing with <\/span>private mortgage institutions<\/span><\/a>, you would need to first decide what type of house you want to buy.<\/span><\/p>\n

      In choosing the right apartment, you should ensure its price tag is something you can afford considering your present and forecasted level of income. Also, don\u2019t forget to use online real estate sites to <\/span>find suitable properties for sale<\/span><\/a>.<\/span><\/p>\n

      Get the Best Mortgage Service<\/b><\/h2>\n

      To get the best mortgage service in Nigeria, you would have to read the profiles of the different mortgage institutions\u00a0and what people have to say about them. You should find my post titled \u2018<\/span>5 Top Mortgage Institutions in Nigeria<\/span><\/a>\u2019 useful.<\/span><\/p>\n

      Get qualified for a mortgage<\/b><\/h2>\n

      After making a choice of what mortgage institution to employ, you should go further to find the requirements and make yourself fit for a mortgage. Generally, mortgage institutions require you to have a regular source of income and an authentic form of identity.<\/span><\/p>\n

      Find a tenant for the property<\/b><\/h2>\n

      This is like the simplest of all the steps. You need a tenant to occupy the mortgaged property who will be willing to pay a rental fee that can help you meet up with your mortgage obligation. To find a tenant for your property, simply click <\/span>here<\/b><\/a>\u00a0and list your property to\u00a0get a tenant in no time.<\/span><\/p>\n

      Find a property manager<\/b><\/h2>\n

      This is another simple step. A property manager would help you take care of all the management issues in relation to the tenant and the property. You need such managers so that once you pay up the mortgage to the lending bank, you would have your apartment still in right condition. To find a property manager in Nigeria, click <\/span>here<\/span>.<\/span><\/p>\n

      Pay up your mortgage in no time.\u00a0<\/b>Yes, it\u2019s that simple!<\/span><\/p>\n

       <\/p>\n","protected":false},"excerpt":{"rendered":"

      Getting a mortgage in Nigeria is not as herculean as most people perceive. It just requires you to plan well ahead so as to avoid\u00a0being stuck in\u00a0the process. In my previous article, I suggested an idea\u00a0about paying up mortgage\u00a0by renting the mortgaged\u00a0property out. In the same article, I\u00a0also pointed out 3 trivial reasons people don\u2019t …<\/p>\n","protected":false},"author":11,"featured_media":1798,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[17,467],"tags":[186,184,181],"class_list":["post-1796","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-real-estate-advice","tag-mortgage-in-nigeria","tag-mortgage-institutions","tag-mortgages"],"_links":{"self":[{"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/posts\/1796","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/comments?post=1796"}],"version-history":[{"count":7,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/posts\/1796\/revisions"}],"predecessor-version":[{"id":10984,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/posts\/1796\/revisions\/10984"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/media\/1798"}],"wp:attachment":[{"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/media?parent=1796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/categories?post=1796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/tags?post=1796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}