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Nairaland Forum / Nairaland / General / Investment / Can I Use My House As Collateral (2077 Views)
Which Bank Can Give Me A Travel Loan Using My House As Collateral / Loan Cooperative Service Is Taking Over My House I Used As Collateral To Secure / Please I Need A Loan Of 500k.i'll Drop My Personal House Document As Collateral (2) (3) (4)
Can I Use My House As Collateral by cruzz664(m): 9:01pm On Nov 21, 2022 |
Dear nairaland valuers and loaners , please this house below can it been use as a collateral to facilitate loan in any financial institution or bank in abuja pls your candid response is welcomed
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Re: Can I Use My House As Collateral by FuckTheMod: 9:03pm On Nov 21, 2022 |
cruzz664:In this life, the best thing you can do for yourself is to avoid DEBT... 2 Likes |
Re: Can I Use My House As Collateral by abuja007: 10:39pm On Nov 21, 2022 |
Yes |
Re: Can I Use My House As Collateral by Femabol01: 2:31pm On Nov 22, 2022 |
cruzz664:You can use it but I think the value of that property can only qualify you max of 2 million depending on the loc of the property. To borrow money is easy but paying back is not. Think before you borrow. |
Re: Can I Use My House As Collateral by cruzz664(m): 6:38pm On Nov 25, 2022 |
Ok which bank can I go to for the loan please in abuja |
Re: Can I Use My House As Collateral by ibechris(m): 6:52am On Nov 26, 2022 |
FuckTheMod: In this life the best thing u can do is to use debt and other peoples money to accelerate your growth. It is this mentality that has kept us way back and financially imprisoned. If the debt is for consumption pls,avoid taking loans. Additionally,there are good debts and bad debts so,it depends on what u are opting for. Good debt are used for investment so as to yield more while Bad debts, which most naira land do collect on apps and come here to disturb us for refusing to pay...all because they had used the money to eat ewedu and ofe nsala. Continuing,debts are not totally bad as we were made to believe,example is: I collected a loan last month worth 3.4million naira for 5years. Interest on this loan is about 1million naira. In five years @7.32% flat rate,I would make 14.9million naira in profit and pay back just 1million naira to the bank,while I go home with 13.9million. So,tell me why debt is bad? Back to the question. If the property has CofO then u are likely to get a loan after some valuation must have been done,but if it's a village land...no bank would lend u money. But alternatively,if u have a bare land with economic value that has Cof O u may also be considered. 6 Likes 1 Share |
Re: Can I Use My House As Collateral by blessedchild234(m): 5:39pm On Nov 26, 2022 |
ibechris:a house as collateral? |
Re: Can I Use My House As Collateral by ibechris(m): 6:08pm On Nov 26, 2022 |
blessedchild234: It is not the house the bank looks at when giving out loan,but the document it carries. Anything short of Certificate of Occupancy...no bank in Nigeria would ever grant u a loan. And most times,they will still not grant u loan with Cof O papers because of the many legal processes such as doing search to know the original owner,the encumbrance or lien on the said property,if the taxes are up to date (properties taxes I meant). For a land in most Abuja villages ,no bank will ever grant u a loan. Take my word for it as that is the department I worked before leavng the bank. What else do u want to hear? 2 Likes |
Re: Can I Use My House As Collateral by blessedchild234(m): 6:28pm On Nov 26, 2022 |
ibechris:ok understood. 1 Like 1 Share |
Re: Can I Use My House As Collateral by FuckTheMod: 10:16am On Dec 04, 2022 |
ibechris:In whatever way you see it, DEBT MAKES YOU A SLAVE! Avoid it as much as possible. |
Re: Can I Use My House As Collateral by ibechris(m): 11:53am On Dec 04, 2022 |
FuckTheMod: I have made more money using debt this year alone. And the last one I am yet to pay is what I used as an example here above. Whatever u say,that is ur reality. With good debt,I was able to make huge sums of money this year alone and that is my greatest reality and I will keep using other people's money (OPM) as a means of enriching myself. Thank u for ur advise as I am sure u are not talking to me about debt maximusation. |
Re: Can I Use My House As Collateral by FuckTheMod: 8:01pm On Dec 04, 2022 |
ibechris:Again, In whatever way you see it, DEBT MAKES YOU A SLAVE! Avoid it as much as possible. And the 5 years loan you mentioned is complete bulIshit, YOU ARE ONLY FOOLING YOURSELF. |
Re: Can I Use My House As Collateral by ibechris(m): 8:33am On Dec 05, 2022 |
FuckTheMod: U need an extensive education about money generally. 5 Likes 1 Share |
Re: Can I Use My House As Collateral by obusco4lyfe(m): 5:08pm On Aug 20, 2023 |
FuckTheMod: I think you should be asking how he got the loan facility amount with such tenor.... Doing business with OPM is the best form of business. It just the Nigerian mentality to think taking loan is a bad idea. Most foreign companies run on loans, the likes of Donald J Trump and Robert Kiyosaki do business with loans. Even Mark Zuckerberg acquire properties for business with loans. Summary: If you have a viable business with definite returns, by all means get a loan that suites your enterprise. 1 Like |
Re: Can I Use My House As Collateral by obusco4lyfe(m): 5:11pm On Aug 20, 2023 |
ibechris: Please I need a loan of 5M, I have a landed property I can use as collateral. What's the institution's name you got yours from?? |
Re: Can I Use My House As Collateral by ibechris(m): 2:20pm On Aug 21, 2023 |
obusco4lyfe: I got it from my wife's bank. |
Re: Can I Use My House As Collateral by Knetpro(m): 2:55pm On Aug 21, 2023 |
Yes, most certainly, you can. |
Re: Can I Use My House As Collateral by obusco4lyfe(m): 9:18am On Aug 25, 2023 |
ibechris: What's the name of the bank please and how can I access it....it's quite urgent This is my WhatsApp: 07069631281 |
Re: Can I Use My House As Collateral by MrHerrera(m): 12:56am On Oct 18, 2023 |
Please I need a loan of about 10m. I have a a bungalow 2 (3 bedroom flats) and another storey building which ever value is worth the intended amount. Please which bank can I get this loan. My number is 08165595473. This is really urgent. Please assist to attend to this question. Thank you. ibechris: |
Re: Can I Use My House As Collateral by emmanuelewumi(m): 9:13am On Oct 18, 2023 |
FuckTheMod: You are correct Dangote, Otedola, Rabiu, Elumelu are slaves they are all owing. MTN, Glo, Nigeria Brewery, Flour Mills of Nigeria, Julius Berger, Total Energy and a lot of businesses are slaves because of their debts |
Re: Can I Use My House As Collateral by emmanuelewumi(m): 9:17am On Oct 18, 2023 |
MrHerrera: Don't be desperate, what is the rental income generated by these properties. The loan you should get against the value of the property should not exceed 3 times the rental income produced by the property. |
Re: Can I Use My House As Collateral by Obierika(m): 10:22am On Oct 18, 2023 |
FuckTheMod: You're very ignorant! |
Re: Can I Use My House As Collateral by MrHerrera(m): 10:58am On Oct 18, 2023 |
The properties are in Ibadan. And each flat is rented for 250k. The storey building is where the family lives. It is bigger and more furnished. I want to use any of the property as collateral to get loan to facilitate my travel plan. emmanuelewumi: |
Re: Can I Use My House As Collateral by emmanuelewumi(m): 12:16pm On Oct 18, 2023 |
MrHerrera: What is the rental income generated by the property you want to pledge as collateral. |
Re: Can I Use My House As Collateral by MrHerrera(m): 1:56pm On Oct 19, 2023 |
At least, the properties generate 1 million annually. emmanuelewumi: |
Re: Can I Use My House As Collateral by emmanuelewumi(m): 2:08pm On Oct 19, 2023 |
MrHerrera: Should qualify for a loan of N3 million |
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