Homebase Mortgage Bank Secures Initial N3.5b MREIF On-lending Facility for Affordable Housing Access in Nigeria

Bennett Oghifo 

Homebase Mortgage Bank, one of Nigeria’s foremost providers of mortgage and housing finance solutions, has secured initial ₦3.5 billion in funding from the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF). MREIF is a collaborative initiative driven by the Federal Government through the Ministry of Finance Incorporated (MOFI), and some private sector investors, with ARM Investment Managers (ARM) as the Fund Managers. This is in line with the Renewed Hope scheme of the Federal Government of Nigeria.

Homebase Mortgage Bank is positioned as a top-tier and capable partner in the government’s housing delivery efforts, leveraging its proven expertise, strong operational systems, and customer-centric approach to scale housing finance for the underserved populations.

As a mortgage bank entrusted with this strategic investment, “We are honored to be selected as a recipient of this significant MREIF funding,” said Arinze Adigwe, Managing Director at Homebase Mortgage Bank. “This recognition underscores the government’s confidence in our competence and commitment to housing access. More importantly, it empowers us to extend even more affordable mortgages to everyday Nigerians.”

Deploying the Fund: Strategic Focus Areas

Homebase Mortgage Bank will deploy the MREIF funding to create mortgage loans and boost homeownership by offering affordable and flexible mortgage packages to low- and middle-income Nigerians. Through this initiative, eligible homebuyers can access home loans at 12% per anum interest rates, with repayment terms of up to 20 years. Additionally, by combining MREIF with the Family Homes Funds, homebuyers may qualify for even lower, single-digit interest rates,  potentially below 10%. With an equity contribution or down payment of just 20%, individuals can access mortgage loans of up to ₦100 million.

Homebase will expand mortgage reach in Nigeria through its impact across the housing value chain, with a focus on: Digitizing mortgage application processes for greater speed, transparency, and inclusion;  Launching homeownership advisory programs and financial literacy clinics to guide first-time buyers; and Hosting community housing forums across key cities to raise awareness about eligibility and access.

A Trusted Engine for Inclusive Growth

With over two decades of experience and a track record of innovation and integrity, Homebase Mortgage Bank stands out as a credible and proactive force in Nigeria’s mortgage banking landscape. The institution has consistently championed housing inclusion, and bridging the gap between aspirations and ownership for thousands of Nigerians.

“The MREIF fund is not just a fund injection, it’s a call to action,” said Arinze Adigwe. “At Homebase, we see this as a mandate to accelerate impact. Every naira we deploy will go towards building lives, strengthening families, and creating sustainable communities.”

Homebase Mortgage Bank is a licensed Mortgage Bank committed to providing accessible, innovative, and customer-focused housing finance solutions across Nigeria. With a legacy of over 20 years, Homebase continues to empower Nigerians to achieve their dream of homeownership, building not just houses, but futures.