Lagos HOMS Home Ownership Mortgage Scheme Application Nigeria

Name of the Organization : Lagos HOMS
Type of Facility : Lagos Home Ownership Mortgage Scheme Application
Country : Nigeria

Website : http://www.lagoshoms.gov.ng/

Related : Lagos HOMS Application Status Check Nigeria : www.statusin.org/3188.html

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Lagos Home Ownership Mortgage Scheme :

The Lagos Home Ownership Mortgage Scheme (Lagos HOMS) is a stimulus package for equity-supported access to home ownership for Lagos State residents. Lagos HOMS will provide the framework for a sustainable and affordable mortgage regime in Lagos State. Under the Scheme the Lagos State Government will:-

Applicants must be able to make the 30% down payment (equity contribution) and meet their monthly repayments.

** provide decent and affordable homes of various types and sizes and in various locations across Lagos State and
** provide access to mortgage finance for Lagos State residents who are First-Time Buyers (FTBs) to purchase these homes.

Objective:
The objective of the Scheme is to enable a larger number of residents own their own homes over time and to avoid purchase by multiple property owners who may distort the intention to meet the huge demand for affordable housing.

5 Easy Steps to Owning Your Home:
Application And Submission :
You complete the Application Form in accordance with the instructions, pay the prescribed processing fee and collect a receipt after submitting copies of all necessary supporting documents. The form can be submitted in person or online. Originals of supporting documents will be required for sighting if you are successful at the Draw.

Pre-Qualification :
The Lagos Mortgage Board [LMB] processes your form for pre-qualification and if you meet the requirements, you will be assigned a Draw reference number.

Draw :
LMB enters you for the draws which are conducted periodically on announced dates, through a transparent, fair and well publicised process.

Post Draw Processing :
LMB forwards names of successful Draw applicants to the Lagos Building Investment Company [LBIC] for mortgage processing. When you receive an Offer Letter from LBIC, you should confirm acceptance and comply with the conditions set out, including the payment of a 30% initial deposit to LBIC within the period stipulated in the Offer Letter.

Closing :
The Contract of Sale and Deed of Mortgage are executed (signed) by you and the LMB/LBIC and the keys to your home are delivered to you. EASY

Apply Online : http://www.lagoshoms.gov.ng/?u=apply

Eligibility Criteria :

** Applicants must be primarily resident in Lagos State and will be required to provide proof or submit a copy of their Lagos State Residents Registration Card where applicable.
** Applicants must be a First Time Buyer.
** Applicants must be 21 years old and above.
** Only tax compliant applicants will be eligible under the Lagos Home Ownership Mortgage Scheme and must provide proof of tax payment for the last 5 years.

Documents Required For Submission With Your Application :
If You Are Currently Employed (full Or Part-time) :
** Two (2) passport-sized photos (with name and signature behind)
** Evidence of yearly payment of income tax for the last five years
** Certified Personal Bank Statement for the last six months
** Pay slips for the last six months
** Last pay slip of previous employer (if applicant has changed jobs within the last year)
** Letter of Reference from current employer confirming job title, status, annual salary & allowances and existing loans and/or obligations if any
** Any evidence of additional income to service the mortgage
** Proof of identity (Drivers license, Birth certificate, Passport, National ID card or Lagos State Residents Card etc)
** Proof of residence in Lagos (Utility bill, Lagos State Residents Card, Tax card etc)
** Signed Memorandum of Acceptance
** Notorised Buyers Affidavit
** Any other supporting documents

If You Are Self- Employed Or Retired :
** Two (2) passport-sized photos (with name and signature behind)
** Evidence of yearly payment of income tax for the last five years
** Certified Personal/Company Bank Statement for the last 6 months
** Any evidence of additional income to service the mortgage
** Proof of identity (drivers license, birth certificate, passport, national ID card or Lagos State Residents Card etc)
** Proof of residence in Lagos (utility bill, Lagos State Residents Card, tax card etc)
** Certificate of Incorporation (first page), Registration of business name or any other relevant documents
** Signed Memorandum of Acceptance
** Notorised Buyers Affidavit
** Any other supporting documents

Note :
Applicants Are Strongly Advised To Seek The Advice Of A Lawyer To Assist Them Through The Mortgage Application Process

Contact :
Address :
LMB
LBIC Building (Ground Floor)
Plot 1. ASSBIFI Road, Central Business District,
Alausa, Ikeja, Lagos.

Phone :
07044519311
08124817363

E-mail : info@lagoshoms.gov.ng