When you are thinking of that beautiful house you want to buy, you want to seek the best home equity loan rates you can get. The lower the interest rate you have to pay to secure a home mortgage, the less the amount you will need to pay to your bank. In fact, the higher the amount of money you can collect from your bank.
Now The Question Is Where Can You Get The Best Home Equity Loan Rates?
No doubt you are familiar with the home loan interest rates in Nigeria. Commercial banks typically charge two digit interest rates for home mortgage.
Recently a friend of mine who was trying to get a mortgage to buy his dream home approached his commercial bank and they offered him home equity loan rate of 17 percent. In addition they also required that he would pay the following:
• 2 percent management fee charged quarterly
• 20 percent home equity contribution
• Legal fees charged by the real estate attorney recommended by the bank and
• All title registration fees required by the Lagos state government.
Note that the bank will not grant you a loan if your annual income is checked and cannot cover the charges yearly.

To read more, click on this link: http://www.eazyhc.com.ng/blog/best-mortgage-rates-commercial-bank-versus-federal-mortgage-bank/

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Compare All The Home Loan Rates From Top 3 Mortgage Banks In Nigeria With Equity Contribution;

Click Here: http://buylandinlagos.com/best-mortgage-rates-nigeria-housing-financing/