Important Mortgage Loan Documents to Acquire, When Applying For a Mortgage Loan in Nigeria

There are a number of important mortgage loan documents to acquire, whenever you are applying for a mortgage loan.

These documents are necessary for the lender to assess your eligibility and most importantly your financial capacity to repay the loan.

In this post I will also show the Advantages of Getting Mortgage Loan to Buy Your House Instead of Renting. These documents include proof of identity such as:

Mortgage Loan Documents For Loan Application

  • An application letter.
  • A letter from your employer to verify your claims of being an employee of the company.
  • An offer letter from the property developer
  • Copies of documents of the property you want to purchase i.e. Certificate of Occupancy (C of O).
  • Proof of monthly pay for at least three months. This is done in order to verify that you have a steady income and you can afford to repay the loan.
  • Your bank account statement for the last six to twelve months, depending on the requirements of the financier.
  • A means of personal identification such as an international passport, National ID card, and Driver’s license.
  • A tax clearance certificate.
  • Letter of employment and confirmation can be used on jobs from jobs of 2years or up to 7years of working experience.
  • Present an approved building plan.

Categorically, these documents help the lender evaluate verify and ascertain your eligibility for the loan as well as ensure that you meet the necessary requirements.

It is crucial to gather and submit all these documents accurately and promptly to ease the mortgage application process.

If you cannot afford to pay for a home upfront, a mortgage will help you buy it. Sometimes, it is a smart move to get a mortgage although you do not have enough money to pay for the home.

For example, let’s say you have other investments in mind, getting a mortgage will allow you more time to repay the loan. Aside the other requirements above, you can follow these simple yet easy steps to secure a mortgage generally:

General Steps to Help you Secure a Mortgage Loan

  • Account Opening
  • Equity Deposit
  • Application for the loan
  • Assessment
  • Processing and approval
  • Disbursement

However, acquiring the documents earlier stated is important for various reasons. This is because, many Nigerians do not patronize any mortgage institution due to the belief that these institutions often prioritize profits over customer satisfaction.

Additionally, some individuals have serious concerns about getting into debt or falling victim to fraudulent schemes, such as paying the wrong parties or purchasing properties that have legal disputes or the ones that belong to government.

In view of these concerns, mortgage institutions do not only provide financial assistance. They as well conduct thorough assessments of properties or lands to ensure the buyer can proceed with the purchase.

Their aim is to identify any potential issues or doubts regarding the property to discourage risky investments.

Steps to Follow in Acquiring a Mortgage Loan in Nigeria

Acquiring a mortgage loan in Nigeria is a process that takes time. Although you already have the necessary paperwork, you will still have to follow the steps I will show you below

  • Determine your budget.
  • Research and locate potential lenders.
  • Contact the chosen lender for prequalification.
  • Search for a suitable property.
  • Acquire relevant documentation.
  • Submit the loan application.
  • Wait for the lender’s decision.
  • After approval, review and sign the loan agreement.
  • Pay fees or charges as stipulated.
  • Complete property valuation and legal processes.
  • Review and fulfill any additional conditions set by the lender.
  • Finalize the loan disbursement.
  • Begin repaying the loan according to the terms of the agreement.


Apparently, if you can meet the necessary requirements, along with any additional criteria as specified by your chosen mortgage institution, it can pave the way for you to easily acquire your dream house or property.

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