In this post, we share with you the complete list of 35 primary mortgage banks in Nigeria as of 2023. In Nigeria’s ever-growing real estate landscape, mortgage banks have emerged as key players, serving as catalysts for homeownership and driving economic growth.
These financial institutions play a vital role in facilitating access to affordable housing finance, enabling individuals and families to realize their dreams of owning a home. With their specialized focus on mortgage lending and related services, mortgage banks have become indispensable partners for Nigerians navigating the complex world of real estate transactions.
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Mortgage banks in Nigeria have revolutionized the housing market by providing tailored financial solutions that address the unique needs of aspiring homeowners. These institutions bridge the gap between financial institutions and the housing sector, offering a range of products such as mortgage loans, refinancing options, and housing construction financing.
By doing so, they empower individuals and families to make their housing aspirations a reality, regardless of their income level or socioeconomic background. Whether it’s a first-time homebuyer seeking affordable financing or a property developer in need of capital for housing projects, mortgage banks serve as facilitators, ensuring that the real estate ecosystem thrives.
What Are Mortgage Banks?
According to the Corporate Finance Institute, mortgage bank is a financial institution that specializes in providing mortgage loans to individuals and businesses. Unlike traditional commercial banks, which offer a wide range of banking services, mortgage banks focus primarily on mortgage lending and related services.
Firstly, mortgage banks originate mortgage loans, which means they provide the funds to borrowers for purchasing or refinancing real estate properties. They work closely with borrowers to evaluate their financial profiles, assess their creditworthiness, and determine the appropriate loan amount and terms. Mortgage banks facilitate the loan application process, gathering necessary documentation, conducting property appraisals, and performing thorough underwriting to ensure the borrower’s ability to repay the loan.
Secondly, mortgage banks typically fund their loans through various sources, including deposits, warehouse lines of credit, and capital markets. They have established relationships with investors and may package and sell loans on the secondary mortgage market to replenish their funds and manage risk. This process, known as securitization, allows mortgage banks to maintain liquidity and continue originating new loans.
List of Mortgage Banks In Nigeria
The following primary mortgage banks in Nigeria are registered and approved by the Central Bank.
- Abbey Building Society Limited Mortgage Lenders
- AG Homes Savings and Loans Limited
- Akwa Savings and Loans Limited
- Aso Savings and Loans PLC
- Brent Mortgage Bank
- Centage Savings and Loans Limited
- City Code Savings and Loans Limited Mortgage Lenders
- Coop Savings and Loans Limited
- Delta Building Society Limited
- FBN Mortgages
- FHA Homes Savings and Loans Limited Mortgage Lenders
- First Generation Homes [Savings and Loans] Limited
- Gateway Savings and Loans Limited
- Global Trust Savings and Loans Limited
- Haggai Savings and Loans Limited
- Homebase Savings and Loans Limited
- Imperial Homes Mortgage Bank Limited
- Infinity Trust Mortgage Bank Limited Mortgage Lenders
- Jigawa Savings and Loans Limited
- Jubilee-Life Savings and Loans Limited
- Kebbi State Home Savings and Loans Limited
- Lagos Building and Investment Company Limited
- MayFresh Savings and Loans Limited
- MGSL Mortgage Bank
- Mutual Alliance Savings and Loans Limited
- New Prudential Building Society Limited
- Nigeria Police Mortgage Bank
- Omoluabi Savings and Loans Mortgage Lenders
- Platinum Savings and Loans Limited
- Refuge Home Savings and Loans Limited
- Resort Savings and Loans PLC
- Safe Trust Savings and Loans Limited
- STB Building Society Limited Mortgage Lenders
- TrustBond Mortgage Bank PLC
- United Mortgage Limited
Related: Top 10 Best Banks In Nigeria
1. Abbey Mortgage Bank
Abbey is one of the Primary Mortgage Banks (PMB) licensed by the Central Bank of Nigeria and Federal Mortgage Bank of Nigeria (FMBN).
Abbey Mortgage Bank Plc focuses on providing economical housing units for interested home seekers, developers, and cooperatives who desire a well-structured mortgage offer.
Further to this, they also keep their customers abreast with financial activities as well as provide high-quality customer service.
- Date of establishment: 1991
- Authorization: Regional
- Headquarters: 23 Karimu Kotun St, Victoria Island 101241, Lagos.
- Total number of branches: 10
- Official website: www.abbeymortgagebank.com
- Contact email: enquiries@abbeymortgagebank.com
2. AG Mortgage Bank
Also on the list of mortgage banks in Nigeria is AG Mortgage Plc (AGMB).
It was incorporated on 21st July, 2004 as a private limited liability company.
It obtained a mortgage banking license from the Central Bank in December 2004.
It commenced business in January 2005 as a Primary Mortgage Bank (PMB).
Following a Private Placement of its shares which resulted in having about 5,000 shareholders at the end of the exercise, the PMB was converted to a Public Limited Liability Company in April 2007.
In May 2015, the Company’s name was changed from AG Homes Savings & Loans Plc to AG Mortgage Bank Plc.
- Date of establishment: 2004
- Authorization: National
- Headquarters: 96 Opebi Rd, Maryland, Ikeja
- Total number of branches: 7
- Official website: www.agmortgagebankplc.com
- Contact email: info@agmortgagebank.com
3. Aso Savings and Loan
ASO Savings and Loans Plc is a financial services institution in Nigeria providing mortgage banking products and services.
The company also offers a range of transaction accounts, fixed deposits, and financial loans, as well as mobile banking solutions.
This bank offers real estate investment banking products and services.
These include residential and commercial real estate finance, loan syndication and structuring, financial advisory and integrated financing.
The company offers services related to deal underwriting, lease documents analysis and business plan modeling.
ASO Savings and Loans has delivered social mortgages to beneficiaries under the National Housing Fund Scheme and directly developed five housing estates around Abuja.
- Date of establishment: 1995
- Authorization: Regional
- Headquarters: Plot 266 Fmbn Building Cadastral Zone Ao Central Business District, Abuja, Nigeria.
- Total number of branches: 7
- Contact email:
4. Brent Mortgage Bank
Brent metamorphosed from Skyfield Savings and Loans Ltd, which started operation in 2002 with N200 million Capital base, which was increased to N1 billion in 2007.
In April 2010 new management and reconstituted board took over the organization.
- Date of establishment: 2002
- Authorization: Regional
- Headquarters: 192A, Jide Oki Street, Off Ligali Ayorinde Street, Victoria Island. P.O.Box 51516 Falomo, Lagos
- Number of branches: 5
- Official website: www.brentng.com
- Contact email: info@brentng.com
5. Coop Mortgage Bank
Coop Mortgage Bank (CMB) is a mortgage lending company based in Ibadan, Nigeria.
It was registered and licensed by the Central Bank of Nigeria in 1993, and commenced mortgage banking operations in 1994.
Her primary mission is to be the clear leader in the Nigerian Mortgage Institution.
Her twin objectives are contributing significantly to bridging the gap in the supply of affordable and durable houses in the nation’s housing sector and the provision of appropriately structured mortgages for ease of homeownership.
COOP is the first PMI to access the National Housing Fund (NHF) and continues accessing the facility to date.
- Date of establishment: 1993
- Authorization: National
- Headquarters: 11B, University Crescent, UI-Secretariat Road, Bodija, PMB 5061, Ibadan, Nigeria.
- Total number of branches: 5
- Official website: www.coopmortgageng.com
- Contact email: info@coopmortgageng.com
6. Delta Trust Mortgage Bank
Delta Trust Mortgage Bank Ltd is a Primary Mortgage Bank wholly owned by Delta State Government.
The Bank was incorporated in 1998 to carry out Mortgage and Banking related businesses for the benefit of the general public.
They have financed projects in Delta, Edo, Lagos as well as the Federal Capital Territory Abuja.
In addition, they have also partnered with the Federal Mortgage Bank of Nigeria in the creation of NHF mortgages across many states in Nigeria.
They proudly remain their preferred mortgage bank in the South-South region to date.
- Date of establishment: 1998
- Authorization: Regional
- Headquarters: 128 Okpanam Road Opposite Sweet Spirit Hotel Warri.
- Total number of branches: 3
- Official website: www.deltatrustmb.com
- Contact email: info@deltatrustmb.com
7. FBN Mortgage Limited
FBN is driven to provide integrated mortgage solutions to individuals and property investors.
FirstTrust is envisioned to be the preferred mortgage solutions provider in Nigeria.
The company’s mission is to provide superior value to all stakeholders, leveraging innovation, technology, and people based on their brand pillars of leadership, enterprise, and service excellence.
- Date of establishment: 2005
- Authorization: National
- Headquarters: 124 Awolowo Rd, Ikoyi, Lagos.
- Official website: www.fbnmortgages.com
- Contact email: info@fbnmortgages.com
8. FHA Mortgage Bank
FHA is also one of the mortgage banks in Nigeria.
It is serving as an agent of the Federal Mortgage Bank of Nigeria (FMBN) in the Management of the National Housing Fund Facility (NHFF).
- Date of establishment: 1998
- Authorization: Regional
- Headquarters: 39, Durban Street Off Adetokunbo Ademola Crescent, Wuse I, Abuja
- Total number of branches: 12
- Official website: www.fbnmortgages.com.ng
- Contact email: info@fhamortgage.gov.ng
9. First Generation Mortgage Bank
First Generation Mortgage Bank [FGMB] Limited is a Primary Mortgage Institution incorporated by the Corporate Affairs Commission in 1992 (No. 207155)
It is licensed by the Central Bank of Nigeria in 1989 to carry out mortgage banking in Nigeria.
It originally existed as Perennial Savings and Loans Ltd and was changed to First Generation Homes (Savings and Loans) Ltd. in 2004.
The name of the Bank was further changed to First Generation Mortgage Bank Ltd in 2012 in line with changing trends.
- Date of establishment: 1992
- Authorization: National
- Headquarters: 86 Aminu Kano Crescent, Off Ahmadu Bello Way, Wuse II, Abuja.
- Total number of branches: 6
- Official website: www.fgmb.com.ng
- Contact email: info@fgmb.com.ng
10. Gateway Mortgage Bank
Gateway Mortgage Bank Limited is a Primary Mortgage Bank (PMB) fully owned by the Ogun State Government.
It was established and licensed by the CBN in 2005 and commenced the Mortgage business in February 2006.
The Bank was subsequently accredited by the Federal Mortgage Bank of Nigeria (FMBN) to access the National Housing Fund loan.
It was established to be a major financial institution to the Government of Ogun State and the teeming populace of the state,
- Date of establishment: 2005
- Authorization: Regional
- Headquarters: Plots 10 & 11, Aderupoko Drive, Ibara Housing Estate, Abeokuta, Ogun State, Nigeria.
- Total number of branches: 3
- Official website: www.gatewaymortgagebank.com
11. Global Trust Savings and Loans LTD
Global Trust Savings & Loans Ltd (GTSL) is one of the mortgage banks in Nigeria.
It is a private limited liability company duly incorporated in October 1992 and subsequently licensed by the CBN.
The company presently has an Authorised Share Capital of N1.5 billion and Paid-up Capital of N1.1 billion.
It operates from its registered office located at Plot 740, Adeola Hopewell Street, Victoria Island, Lagos.
GTSL is a wholly indigenous-owned mortgage banking institution and a subsidiary of Industrial and General Insurance Plc (IGI).
IGI is the largest and foremost Insurance underwriter in Nigeria and West Africa; with global outreach and presence in, Uganda, Rwanda, London and Washington DC.
- Date of establishment: 1992
- Authorization: International
- Headquarters: Plot 740, Adeola Hopewell Street, Victoria Island, Lagos
- Number of branches: 12
- Official website: www.globaltrustsavings.com
- Contact email:
12. Haggai Mortgage Bank
Haggai Mortgage Bank Limited (HMB) is a licensed by the Central Bank of Nigeria (CBN) to carry on mortgage banking business.
At HMB, their focus is on provision of tailor-made and specialized banking services.
This is made available to a wide range of customers, with products designed to meet the specific needs of their customers.
The Bank has consistently lived her vision of Working with the Master Builder to touch lives by providing quality mortgage services and homes.
- Date of establishment: 1994
- Authorization: Regional
- Headquarters: 119 Bode Thomas St, Lagos, NG.
- Total number of branches: 1
- Official website: http://www.haggaibank.com
- Contact email: info@haggai.com
13. Imperial Homes Mortgage Bank Limited
This Mortgage Bank is duly licensed by the Central Bank of Nigeria to undertake mortgage banking and related services.
It was originally incorporated in 1992 as Citizens Savings and Loans Limited.
But the name was changed in 1997 to New Patriot Building Society Limited.
The company hanged its name to GTHomes Limited to reflect its relationship with GTBank.
- Date of establishment: 1992
- Authorization: National
- Headquarters: 28 Saka Tinubu St, Victoria Island, Lagos.
- Total number of branches: 12
- Official website: www.imperialmortgagebank.com
- Contact email: info@imperialmortgagebank.com
14. Infinity Trust Mortgage Bank Plc
Infinity Trust Mortgage Bank Plc was incorporated on 28th January, 2002, as Infinity Trust Savings & Loans Limited. However, it commenced business operations in Abuja, in 2003.
For over a decade, their registered trademark – Infinity Homes – has remained a true reflection of their unalloyed commitment towards providing Nigerians with endless opportunities through affordable homeownership.
As part of their strategic turn-around, the bank was converted to a Public Limited Liability Company on 25th January 2013.
It had to change its name to Infinity Trust Mortgage Bank Plc.
Consequently, its shares were listed by an introduction on the main floor of the Nigerian Stock Exchange on December 11, 2013.
- Date of establishment: 2002
- Authorization: National
- Headquarters: NO.11, Kaura Namoda street, off Faskari Crescent, Area 3, Garki Abuja, Abuja, Abuja, Nigeria.
- Total number of branches: 6
- Official website: www.infinitytrustmortgagebank.com
15. Jigawa Savings and Loans LTD
Jigawa Savings and Loans (JSL) Ltd was incorporated in 1999 as a limited liability company in Nigeria by the CAC.
It was granted an operating license in 2000 by the Central Bank of NIGERIA.
It Started as a Primary Mortgage Institution (PMI) under the Banking and Other Financial Institutions Act.
It was accredited to do mortgage business by the Federal Mortgage Bank of Nigeria (FMBN).
- Date of establishment: 1999
- Authorization: Regional
- Headquarters: No.1Binta Sanusi House, Kiyawa Road, Dutse, Jigawa State.
- Total number of branches: 8
- Official website: www.jigawasavingsandloan.com.ng
- Contact email: info@jigawasavingsandloans.com.ng
16. Jubilee Life Mortgage Bank
Jubilee-Life Mortgage Bank Plc. is a leading primary mortgage bank in Nigeria. It was incorporated in August 1992 as a private limited Liability Company.
Since inception, Jubilee-Life Mortgage Bank Plc. has evolved into a mortgage bank with a global outlook.
Its activities extend beyond the shores of Nigeria.
The Bank has attained significant growth and emerged as a giant in the mortgage banking sector in terms of assets, loans, deposit, profitability and branch network.
They attribute their success to a commitment to deliver safe, viable and affordable housing solutions that address the housing deficit in Nigeria.
- Date of establishment: 1992
- Authorization: Regional
- Headquarters: Plot 730, Adeola Hopewell, Victoria Island.
- Total number of branches: 5
- Official website: www.jubileelifeng.com
- Contact email: info@jubileelifeng.com
17. Lagos State Building Investment Company
Also on the list of mortgage banks in Nigeria is the Lagos Building Investment Company Plc (LBIC).
It was established as a corporate entity on the 14th of February 1980.
The Mission is to provide Mortgage Finance Facilities to allottees of the various low-cost housing Schemes built by the Lagos State Government (1979-1983).
Following a successful Private Placement, the paid-up capital of the Bank was increased from =N=100m to =N=2.5billion in 2007.
- Date of establishment: 1980
- Authorization: Regional
- Headquarters: 1, Assbifi Road, Central Business District, Alausa, Ikeja P.O. Box 7525, Lagos.
- Total number of branches: 6
- Official website: www.lbicplc.com
- Contact email: info@lbicplc.com
18. Mayfresh Mortgage Bank
The Bank (Mayfresh Mortgage Bank Ltd) was incorporated on October 22, 1993, and licensed to commence Mortgage Banking by the Federal Ministry of Works and Housing on April 27, 1995.
The PMI has its Registered Head office at 83 Aba-Owerri Road, Umungasi, Aba, Abia State.
It has offices in 20 locations across the country including, Aba, Lagos, Abuja, Umuahia, Abakiliki, and Enugu.
The PMI has an Authorized Share Capital of N5 Billion, Paid-Up Capital of N3.64 billion and Shareholders’ Funds of N6.62 billion as at December 31, 2016.
The total Assets stood at N9.92 billion for the same reporting period..
- Date of establishment: 1993
- Authorization: National
- Headquarters: 83 Aba-Owerri Road,Aba, Abia State
- Total number of branches: 23
- Official website: www.mayfreshmortgagenankltd.com
- Contact email: mmb.info@mayfreshmortgagebankltd.com
19. Mutual Alliance Mortgage Bank
Mutual Alliance Mortgage Bank Limited (formerly Mutual Alliance Savings & Loans Limited) was incorporated on the 20th August 1992 as Quality Homes Savings & Loans Limited with a paid-up capital of Ngn10 million.
In 2001 the company was taken over by strategic investors who reorganized and re-engineered banks and then changed the name to Mutual Alliance Savings & Loans Limited with a fully paid-up share capital of N400 million.
Further to the regulator (i.e. Central Bank of Nigeria) induced recapitalization exercise the shareholders of Mutual Alliance Mortgage Bank Limited through private placements increased the paid-up capital of the bank to over Ngn2.6Billion.
- Date of establishment:1992
- Authorization: Regional
- Headquarters: No 209 Oron Road, Uyo, Akwa Ibom State.
- Total number of branches: 5
- Official website: www.mutualalliancebank.com
20. Prudential Mortgage Bank
Prudential Mortgage Bank (PMB) is a limited liability company incorporated in July 1991 as New Prudential Mortgage Finance Limited.
It was licensed by the Central Bank of Nigeria (CBN) in February 1992 to commence business as a Primary Mortgage Institution.
In 1995, the company changed its name to New Prudential Building Society to reflect its revised business model that was focused on providing real estate advisory and mortgage services to its members only.
In December 2002, they increased their share capital to N100million by admitting more members into the society.
This was driven by regulatory requirements as well as the need to grow our capacity to better serve their members.
They have successfully implemented the building society (mutual) model for eighteen years.
During this period, they developed deep competencies in real estate investment, property development, home lending, residential mortgages, and commercial mortgages.
- Date of establishment: 1992
- Authorization: Regional
- Headquarters: 55, Bishop Oluwole Street, Victoria Island, Lagos.
- Total number of branches: 5
- Contact email: info@prudential.ng
21. Omoluabi Mortgage Bank
Omoluabi Mortgage Bank Plc (OMB Plc) is a primary mortgage institution (PMI) that is regulated by the Other Financial Institutions Department of the Central Bank.
The Company was incorporated in 1993, based in Osun State’s capital, and provides mortgage banking services, housing/ property development solutions and general financial services.
In 2014, OMB Plc listed its shares on the Alternative Securities Market (ASeM) of The Nigerian Stock Exchange (NSE); emerging the first company to do so.
Current major shareholding blocks are held by the Osun State Government, 31 Local Governments in Osun State and 2 major Institutional Investors.
- Date of establishment: 1993
- Authorization: Regional
- Headquarters: Old Governor’s Office, Gbongan Road, Oshogbo, Osun State, Nigeria.
- Total number of branches: 7
- Official website: www.ombplc.com
- Contact email: info@ombplc.com
22. Resort Savings and Loans
Resort Savings & Loans Plc is duly licensed to carry on mortgage banking business and has operated for over a decade.
It commenced business on November 29, 1993, and grown steadily in achievements, acceptability, and reputation.
During these formative years have, the company has laid a very solid foundation for business development with great emphasis on building public confidence and acceptability.
The company thereby successfully pulled through the difficult years of mortgage banking and subsequently has been achieving modest income that continues to increase steadily.
- Date of establishment: 1993
- Authorization: Regional
- Headquarters: 25, Olowu Street Ikeja, Lagos.
- Total number of branches: 3
- Official website: www.resortng.com
- Contact email: mails@resortng.com
23. Safetrust Mortgage Bank
Safetrust Mortgage Bank Limited (formerly Safetrust Savings and Loans Limited) is a leading Primary Mortgage Bank (PMB) licensed by the CBN.
It is duly accredited by the Federal Mortgage Bank of Nigeria (FMBN) for the disbursement of the National Housing Fund (NHF) loans to contributors.
Incorporated on the 2nd of September, 1992, Safetrust Mortgage Bank Limited commenced operations in September 1993 at its registered office located at 18, Keffi Street Ikoyi, Lagos.
The Bank has a diversified ownership structure with its shares owned by institutional investors, high net-worth individuals, and professionals.
- Date of establishment: 1993
- Authorization: Regional
- Headquarters: 18, Keffi Street Ikoyi, Lagos.
- Total number of branches: 4
- Official website: www.safetrustmortgagebank.com
24. STB Building Society LTD
This is the final bank on our list of mortgage banks in Nigeria.
In line with Central Bank of Nigeria’s regulatory guidelines under the Mortgage Institution Decree No. 53, STB Building Society Limited is licensed to carry out the business of mortgage banking in Nigeria.
In addition to the provision of traditional mortgage banking services, STB Building Society Limited provides advisory services to manage property development, revenue collection and facility management.
Their manpower and expertise have been deployed to manage various Estates/ Facilities currently with a combined capacity of about 2,000 residential houses/ apartments.
- Date of establishment: 1991
- Authorization: Regional
- Headquarters: 1 First Avenue, Bourdillon Court Estate Lekki. Lagos.
- Official website: www.stbsociety.com
- Contact email: info@stbsociety.com,
Related: The Different types of banks in Nigeria
Mortgage Banks In Nigeria (Conclusion)
Isn’t it interesting to know that specific financial institution that are ready to help you secure a house?
The benefits of mortgage banks in Nigeria goes beyond helping you secure a building because mortgages are also loans.
Yous should know that mortgages come with interest rates. A typical mortgage interest rates in Nigeria range between 7-10% for the NHF and between 15-25% for commercial mortgage institutions.
Interestingly, almost every bank has a mortgage arm from which clients can obtain a loan for property purchase.
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