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Perception of Low Income Earners on the Performance of Mortgage Institutions in Housing Finance in Lafia, Nasarawa state, Nigeria
[journal article]
Abstract The problem of housing provision by the mortgage industry which includes financing has always being a major concern to the public as a whole. This study investigated the performance of mortgage institutions in housing finance for low-income earners in Lafia metropolis, Nigeria. The objective is to a... view more
The problem of housing provision by the mortgage industry which includes financing has always being a major concern to the public as a whole. This study investigated the performance of mortgage institutions in housing finance for low-income earners in Lafia metropolis, Nigeria. The objective is to assess the performance of mortgage institutions from low-income earners’ perception. Data was collected through a questionnaire survey from 314 low-income earners randomly selected from the targeted population in Lafia metropolis. The data collected were subjected to descriptive statistics with mean ranking to examine the degree of agreement and the significance of the various variables. The study revealed that performance factors such as collateral, loan maturity period and loan requirement, etc. were highly ranked as the most performed area by mortgage institutions. It is recommended that government and stakeholders should reduce the high rate of interest, make mortgage loans accessible and affordable to low-income earners and also increase the funding of mortgage institutions. This study reinforces other research works on the performance of mortgage institutions in housing finance.... view less
Keywords
Nigeria; apartment; funding; credit; West Africa
Classification
Economic Sectors
Document language
English
Publication Year
2019
Page/Pages
p. 2001-2011
Journal
Path of Science, 5 (2019) 11
ISSN
2413-9009
Status
Published Version; peer reviewed