Mortgage Funding
SEHI has carefully designed this funding model to assist members that could not secure mortgage from our partner banks. This options provides an agreed interval direct remittances by the member to SEHI who will use the funds so remitted to deliver the project within the agreed time.
SEHI Estates are located in the major cities of the South East States, namely
Aba, Awka, Abakaliki, Enugu, Nnewi, Umuahia, Owerri
SOUTH-EAST HOUSING INITIATIVE has designed this simplified steps to benefit every subscriber who opt for the mortgage funding.
Follow these few simple steps to get started.
1. Expression and Subscription As soon as you have made up your mind on the type of house you need and the location, kindly complete the Subscription Form and submit.
2. Issuance of Offer Letter On the receipt of the completed expression form, a preliminary offer letter shall be issued to you. The Offer Letter will form part of the document required to review your mortgage application.
3. Confirmation of Funding Option: On receipt of your Subscription Form, the mortgage bank will evaluate your application to provide a funding report for you. The Funding report indicates if you are qualified for the fund. In a case your mortgage application fails, don't be worried, you still have the option of Self Funding to achieve your dream home.
4. Execution of Development Agreement: Immediately you are issued the Allocation Letter to the plot, you are expected to execute the Development Agreement with the SEHI Initiative. To do this, you must have obtained the Survey Plan of the assigned plot, paid all government and relevant fees and show evidence of immediate commencement of work at the site
5. Allocation of Plot/Allocation Letter: At the availability of your funds, execution of the agreement, and payment of all relevant fees, a plot of your choice shall be allocated to you in your choice location/estate. Your house contractor/builder can, at this stage, have access to the funds.