Build it stage by stage, financed stage by stage.

Build a single residential home on land you already own. Funds drawn in tranches against verified construction milestones, with tenors up to 10 years.

14.0% p.a.
Tranche rate
₦250M
Maximum loan
36 months
Build window
Start application → See your monthly ↓
How it works

Four tranches. Four verified milestones.

01
Foundation slab and DPC
Tranche one releases on site-prep completion. Funds the foundation slab and damp-proof course. A AGMB-appointed quantity surveyor verifies on site before disbursement — no self-certification.
02
Walls to lintel level
Tranche two funds walls rising to lintel level. Your contractor cannot draw the next tranche until the current stage is signed off by the QS and filed with us.
03
Roofing and external block-work
Tranche three funds roofing structure and external block-work to completion. At this point the building is weathertight and the risk profile materially reduces.
04
Plastering, electrical, plumbing, fit-out
Tranche four funds all interior finishing: plastering, electrical installation, plumbing, and final fittings. On practical completion the facility converts to a standard 15–20-year mortgage.
Eligibility

Who this is for.

  • ✓ You hold a registered Governor's Consent or Certificate of Occupancy on the land — title must be perfected in your name before we open a file.
  • ✓ The plot carries an approved Lagos State Physical Planning (or relevant state) building permit and a stamped architectural drawing set from a COREN-registered firm.
  • ✓ You have a bill of quantities prepared by an NIQS-registered quantity surveyor, and a CAC-registered, tax-compliant, insured contractor ready to mobilise.
  • ✓ You can fund a 30% equity contribution into project escrow before the foundation tranche releases. We lend up to 70% of the verified BoQ figure.
  • ✓ The property is not on flood-prone unzoned land, family land with unclear title, or land in an area under active demolition order.
Documents

What you'll need.

File completeness is the single biggest cause of tranche delays. Prepare these before submitting.

Title
Governor's Consent or C of O
Registered and perfected in your name. Family land or bare letters of allocation are not accepted.
Planning
Approved building permit
State Physical Planning Authority approval with stamped drawing set from a COREN-registered architect.
Costing
Bill of quantities (NIQS-registered QS)
Itemised BoQ signed and stamped by a NIQS-registered quantity surveyor. This is the basis for the loan amount.
Contractor
Contractor profile + CAC + insurance
CAC registration, tax clearance, and contractors' all-risks insurance. Panel contractors available if needed.
Identification
BVN, NIN, and proof of income
Last six months bank statements and proof of income or pension. Three payslips for salaried applicants.
Equity
Equity contribution deposit confirmation
30% of the BoQ value deposited into the project escrow account before the foundation tranche releases.
Pricing

The numbers, in plain sight.

14.0%
Per annum — reducing balance
Construction phase rate. Applied to drawn-down tranches only, not the full facility.
₦250M
Maximum facility size
Subject to verified BoQ and 70% LTV. Minimum facility is ₦15M.
36 mo.
Build window
Construction phase must complete within 36 months. Converts to a 15–20-year mortgage on practical completion.

Rate is frozen at offer for ninety days. Construction-phase rates are reviewed at tranche release, not locked for the full build window — variable-rate adjustments are published quarterly. On conversion to a standard mortgage, the rate is reset at conversion against the prevailing AGMB indicative rate.

Use cases

Three builds, three plans.

Scenario 01
Lagos Island — 4-bedroom detached
A Lagos-based civil engineer owns a 450m² plot in Lekki Phase 2 with a registered C of O. BoQ: ₦180M. AGMB funds ₦126M (70%), with ₦54M in escrow. Four tranches over 28 months. On completion, the facility converts to a 20-year mortgage at the prevailing rate.
₦126M funded at 14.0% p.a.
Scenario 02
Abuja — 3-bedroom semi-detached
A civil servant couple holds Governor's Consent on a 300m² plot in Gwarimpa. BoQ: ₦65M. AGMB funds ₦45.5M. Build target: 18 months. They select a panel contractor from the Abuja register. Tranche inspection intervals: 5–7 working days per sign-off.
₦45.5M four tranches, 18 months
Scenario 03
Port Harcourt — 2-bedroom bungalow + BQ
A retired teacher owns a plot in Rumuola and is using her gratuity as the 30% equity. BoQ: ₦38M. AGMB funds ₦26.6M. Smaller facility, shorter tenor. Build window: 14 months. Converts to a 10-year mortgage at completion.
₦26.6M 10-year mortgage on completion
FAQ

Frequently asked.

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