Article Summary
1. No fewer than 66,402 applications have been filed for pre-qualification since August 2 when the federal government jump-started the new mortgage refinancing system for an initial 10,000 mass housing delivery programme.
2. The Coordinating Minister for the Economy and Minister of Finance, Dr. Okonjo Iweala stated that within eight weeks, the 66,402 applications would be shared among 21Primary Mortgage Institutions (PMIs) to ascertain how many people are qualified to get the houses.
3. She advised subscribers to start looking for a house of their choice as soon as they are pre-qualified, she said the 66,402 applications were received from across the 36 states of the federation and the Federal Capital Territory (FCT).
4. As long as the banking institutions and Primary Mortgage Institutions (PMIs) meet the guidelines, there will be money to back this, if we cannot do 66,000 mortgages now, then we are nowhere.
5. She said 63 per cent of the applicants were male, with 37 per cent female, even as she said 89 per cent applied in their own name, including women. 11 per cent were joint applications (husbands and wives).
60 per cent of the applicants were between 31 and 40 years age bracket, and 15 per cent in the 21-30 year bracket.
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