Octoville 1010 City Project

About the Octoville 1010 City Project

The Octoville 1010 Project is a housing development project targeting the development of 1010 residential housing units in the Abuja metropolis for NHF eligible persons.

Eligible aspiring home owners will be supported to access the National Housing Fund and other low interest housing loans repayable over a 5 – 30 year period. Eligibility is defined as someone (households) who can afford to pay the annual mortgage payments for the average housing price, which are as follows:
• 15 Million Naira for the 3-bedroom terrace option.
• 11Million Naira for the 2bedroom flat option.
• Other housing types above the 15Million Naira benchmark.

For example, for a 15 Million Naira 3-bedroom terrace option, with a 10% down-payment, the annual mortgage payment will range from 3.12M per year (for a 5-year tenure) to 1.16M (for a 20-year tenure). Similarly, a 10-year tenure will be approximately 1.8Million Annual payment.

The housing development is scheduled to start by January 2021; and will also be in the planned estate along Airport Road, Abuja.
The Mortgage payments will vary based on the choice of residential unit and the duration of the repayments.

Calculate Your Mortgage

Note the following:

To check your eligibility, please read the following instruction below and input the appropriate values in the calculator.

1. As seen below in the calculator, the default price of the property is N15, 000,000. However, note that you can change this to N11, 000,000 for the 2-bedroom flat option or other figures depending on how much down-payment you want to make.
2. The down-payment for the mortgage cannot be less than 10% of the price of the chosen property option.
3. The “Amount of Loan” section in the Calculator should be left at “0”, the Calculator will determine the amount when you click “Calc” beneath.
4. Note that the Mortgage is calculated in months; hence the default number of months below is 120 months (i.e. for 10 years). Please modify as deem fit; default rule is to minus your current age from 60 to determine the maximum number of years you can use for your Mortgage calculation.
5. Leave the other data requirements in the default mode and click “Calc”.
6. The closer your calculated annual mortgage (Monthly Payment * 12) is to what you pay annually for rent, then the more likely that you can easily repay the mortgage.
7. Refresh page to start again.
8. If you are satisfied that you can meet up with the monthly mortgage payment, please Click Here to register.
9. The closer your calculated annual mortgage (Monthly * 12) is to what you pay annually for rent, the more likely that you can repay the mortgage easily

For clarifications, you can contact us on:

09022077878, 09079312221.

CLICK HERE TO REGISTER YOUR INTEREST FOR THIS HOME OWNERSHIP PROJECT