The Lagos Home Ownership Mortgage Scheme also known as Lagos HOMS is a mortgage scheme by the state government for the teeming masses. If you have some cash and an average earning job then the Lagos HOMS scheme can help you own your house simply by paying instalmentally over a period.
Again, one good reason to partake in this scheme is that you get to use your house for future investment. Although I must confess that this scheme allows the buyer to own the house after payment has been completed.
Your neighbourhood affects you greatly whether you like it or not and the locations of the Lagos HOMS buildings are ideal for bringing up your children as they are also secured.
With the fast increment of house rent in Lagos which can be a bottle neck to one’s progress. When you own your own house things begin to fall in place for you financially as a majority of Lagosians spend a chunk of their income by paying house rent.
Some Lagos HOMS Features Worth Noting
- Your tenure will be 10 to 20 years
- You will pay about 30% of the total cost as down payment
- There are participating banks who will sponsor the scheme
- Initial Fee of ₦10,000 (Civil Servant) and an admin charge of ₦25,000 (others)
- You get to pay the principal and interest periodically
- There will be written and signed deed of mortgage
Lagos HOMS Application and Sign Up
- You must live in Lagos state
- You must not be over 60 years
- You must have a proven source of income
- Have the ability to pay the initial 30%
- You are required to make payment of 6% interest on the loan
- This must be the first time you are buying a house
Lagos HOMS Required Documents
- 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)
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Signed Memorandum of Acceptance – Download it here
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Notorised Buyers Affidavit – Download it here
- Any other supporting documents
If you meet all the requirements above then you can apply for the mortgage scheme by Clicking Here
Price, Location & Categories of Lagos HOMS (2016)
| PROPERTY TYPE | PRICE RANGE | LOCATION | SIZE(m2) | PRICE |
| ROOM / PALOUR | N4.34m | MICHAEL OTEDOLA ESTATE ODORAGUNSHI | 60.22 | 4.34m |
| 1 BEDROOM TYPE 1 | N4.10-6.40m | ODO ONOSA/ODO AYANDELU | 60.22 | 4.10m |
| OBA ADEBORUWA ESTATE IGBOGBO | 60.22 | 6.47m | ||
| MICHAEL OTEDOLA ODORAGUNSHI | 60.22 | 6.40m | ||
| 1 BEDROOM TYPE 2 | N7.50-7.85m | IGBOGBO PHASE II | 60.22 | 7.50m |
| IGANDO GARDENS | 60.22 | 7.54m | ||
| MAGODO | 60.22 | 7.57m | ||
| OMOLE SCHEME | 60.22 | 7.71m | ||
| SANGOTEDO | 47 | 7.85m | ||
| 1 BEDROOM TYPE 3 | N8.25-9.91m | Chief Anthony Enahoro Scheme (Shogunro) 1 | 60.22 | 8.35m |
| Chief Anthony Enahoro Scheme (Shogunro) 2 | 60.22 | 8.61m | ||
| SHITTA, SURULERE | 60.22 | 8.25m | ||
| ILUPEJU | 60.22 | 9.08m | ||
| MUSHIN | 60.22 | 8.28m | ||
| LEKKI SCHEME I | 60.22 | 9.91m | ||
| 2 BEDROOM TYPE 1 | N6.22-7.22m | ODO ONOSA/ODO AYANDELU | 75.79 | 6.22m |
| OBA ADEBORUWA ESTATE IGBOGBO | 75.79 | 7.91m | ||
| MICHAEL OTEDOLA ODORAGUNSHI | 75.79 | 7.22m | ||
| 2 BEDROOM FLAT | N9.75 | CHOIS GARDENS | 75.79 | 9.75m |
| 2 BEDROOM TYPE 2 | N9.44-9.71m | IGBOGBO PHASE IIB | 75.79 | 9.44m |
| IGANDO GARDENS | 75.79 | 9.48m | ||
| MAGODO SHANGISHA | 75.79 | 9.52m | ||
| OMOLE SCHEME | 75.79 | 9.71m | ||
| 2 BEDROOM TYPE 3 | N10.38-12.47m | Chief Anthony Enahoro Scheme (Shogunro) 1 | 75.79 | 10.51m |
| Chief Anthony Enahoro Scheme (Shogunro) 2 | 75.79 | 10.83m | ||
| SHITTA, SURULERE | 75.79 | 10.38m | ||
| ILUPEJU | 75.79 | 11.42m | ||
| MUSHIN | 75.79 | 10.42m | ||
| LEKKI SCHEME II | 75.79 | 10.54m | ||
| LEKKI SCHEME I | 75.79 | 12.47m | ||
| 2 BEDROOM TYPE 4 | N14.69-18.61m | SANGOTEDO | 88 | 14.69m |
| 3 BEDROOM FLAT | N14.5m | CHOIS GARDENS | 123.9 | 14.5m |
| 3BEDROOM TERRACE | N8.77m | ODO ONOSA/ODO AYANDELU | 123.9 | 8.77m |
| 3 BEDROOM TYPE 1 | N6.96m | ODO ONOSA/ODO AYANDELU | 123.9 | 6.96m |
| 3 BEDROOM TYPE 2 | N8.98-11.02m | ILORO SCHEME | 123.9 | 8.98m |
| HON. SOTONWA ESTATE, IGBOGBO | 123.9 | 9.96m | ||
| HON. MUSTAPHA OJOKORO | 123.9 | 11.02m | ||
| 3 BEDROOM TYPE 3 | N15.43-16.69m | IGBOGBO PHASE II | 123.9 | 15.43m |
| IGANDO GARDENS | 123.9 | 15.50m | ||
| SHITTA, SURULERE | 123.9 | 16.69m | ||
| MAGODO SHANGISHA | 123.9 | 15.57m | ||
| OMOLE SCHEME | 123.9 | 15.87m | ||
| 3 BEDROOM TYPE 4 | N16.69-17.71m | Chief Anthony Enahoro Scheme (Shogunro) 1 | 123.9 | 17.17m |
| Chief Anthony Enahoro Scheme (Shogunro) 2 | 123.9 | 17.71m | ||
| MUSHIN | 123.9 | 17.03m | ||
| LEKKI SCHEME II | 123.9 | 17.22m | ||
| SANGOTEDO | 100 | 16.69m | ||
| 3 BEDROOM TYPE 5 | N18.67-20.39m | ILUPEJU | 123.9 | 18.67m |
| LEKKI SCHEME II | 123.9 | 20.39m |
Note : The information in the table was accessed from the lagoshoms.gov.ng website .