GTBank Mortgage Loan: How to apply and document required for housing mortgage application

Last Updated on July 1, 2024 by admin

Vast majority of Nigerians are living floating slum in the urban and rural area, millions are homeless due to housing deficit.Though Nigeria government are putting measure in place to contain housing challenge by creating Federal Housing Authority as well as Federal Low Cost Housing Estate to provide Affordable Housing for all.

This measurement couldn’t solve it alone,which prompt commercial banks and other mortgage banks to quick rescue. Guaranty trust bank has unveiled what is know as GTMortgage a product that offers credit facilities (term loans) to part finance applicant’s acquisition of residential property in locations acceptable to the bank.

Read: Gtbank Quick Credit loan: How to apply as Salary earner and Small Business owner

The credit facilities is offer to customers whose salaries or business proceeds are domiciled with the Bank to enable them own a home in selected cities within the country.

Nigerians housing already in deficit and what I always tell people is that we need to classify what deficit is. Most of the times, what people can afford, they don’t like but what they like, they cannot afford

GTMortgage loan tenor ranging from 1 – 20years (but subject to a maximum age of 55 when loan expires) with flexible repayment options, Annual, semi-annual or quarterly principal repayment while interest will be serviced monthly.Monthly repayment shall not exceed 50% of net monthly salary.

The maximum and minimum loan amount ranging’s from N5 million to N150 million depend on your capacity for repayment. The Approved locations by GTBank for GTMortgage include: low and medium density areas in Lagos, Abuja, Port Harcourt and all states capitals.

Also read: How to contact Gtbank customer care number,email and social media

Required documents for GTMortgage Approval

1. Offer from vendor
2. Copy of the title document
3. Duly completed GTMortgage loan request form
4. Duly completed GTMortgage Employer Undertaking form (v) Clean Search report (vi) Valuation report.

Read: GTBank USSD Code *737#: How To transfer money, Open account and activate your account

Benefits Of Gtbank Mortgage Loans

The benefits of GTBank Mortgage Loans extend beyond the mere acquisition of a property. With these loans, customers enjoy unparalleled advantages that make their home ownership dreams a reality.

Firstly, GTBank offers competitive interest rates, ensuring that borrowers can access funds at affordable terms. This allows customers to plan their finances effectively and make comfortable repayments over an extended period.

Additionally, GTBank Mortgage Loans provide flexible repayment options tailored to suit individual needs.

Borrowers can choose from various repayment tenures, making it easier to manage their monthly payments without straining their finances. Moreover, these loans offer quick and convenient processing, minimizing bureaucratic delays and ensuring a seamless experience for applicants.

Furthermore, GTBank provides expert guidance throughout the loan application process. Their experienced mortgage specialists offer personalized advice and support at every step, helping borrowers navigate through the complexities of acquiring a mortgage loan.

How to Apply For GTMortgage

If your employment status is confirmed as staff of a reputable company and have worked with the current employer for at least one month should visit the nearest Gtbank branch and request for Application Form and submit the following documents.

1.Title Document of Property
2.Offer Letter to Sell property from vendor
3.Valuation report from any of the Banks approved estate valuer
4.Search report from GTBank Legal Group

Read: GTBank transfer code *737#: How to create or reset 4 digit PIN and Transfer money

 

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About admin

Meet Ogbeide Frank, popularly known as perere, a blogger who loves writing about finance and Tech. He studied Business administration at the Ambrose Alli University Ekpoma and Mobile Communication at Orange College Malaysia .Frank have worked as a banker and consultant in variety of Nigeria agencies For Advertisement, Content marketing andsponsored post: contact : kokobest04@gmail.com
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