Homebase Mortgage Bank

What Homebase Mortgage Bank does

Homebase Mortgage Bank Limited is a Nigeria-licensed Primary Mortgage Bank (PMB) headquartered at No. 21 Adeyemo Alakija Street, Victoria Island, Lagos. Under CBN license, it provides mortgage origination, savings and deposit products, construction finance for real estate developers, and financial advisory services to professionals, public sector workers, corporate bodies, cooperative societies, and individuals. Its mortgage product set includes NHF-backed loans up to N15 million and Homebase Mortgage Loans with indicative rates around 22% and tenors up to 30 years; auxiliary products cover savings accounts, fixed deposits, and debit cards (N2,200 renewal fee).

The bank operates a multi-channel digital stack comprising a proprietary mobile application (Homebase Mobile on iOS and Android), internet banking, USSD services, and an online data collection portal for mortgage applications, with NIBSS and Interswitch integrations for national payment processing. Distribution combines this digital infrastructure with a single Lagos branch and partnership-based origination channels including employers and cooperatives; institutional funding flows from FMBN (NHF), NMRC (refinancing), and MREIF/MWFL (warehouse funding). The bank claims cumulative outcomes of 400+ facilitated projects and 10,000+ homeowners served.

The revenue model is primarily interest-driven, captured through the spread between mortgage lending rates (indicative 22%) and deposit funding costs across savings, current, and fixed deposit products, supplemented by transactional fees (debit card issuance/renewal, construction finance syndication) and professional services fees from financial advisory. The GTM motion is sales-led with a digital top-of-funnel funnel (website, mobile app, social media, customer testimonials), supported by free online pre-qualification and 5-minute online account opening designed to lower the friction of mortgage origination in a market with historically low mortgage penetration.

Name

Homebase Mortgage Bank

Legal name

Homebase Mortgage Bank Limited

Website

https://homebasebank.com

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Short description

Homebase Mortgage Bank is a CBN-licensed Primary Mortgage Bank in Lagos, Nigeria, providing mortgage loans, savings and deposit products, construction finance, and financial advisory to professionals, public sector workers, corporate bodies, cooperatives, and individuals across multiple digital and physical channels.

Ownership category

akta.pro rank

Product category

Mortgage Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Renovation Mortgage Origination (FHA 203(k), HomeStyle, CHOICERenovation) (FSALAAAL)

akta.pro secondary industry

Balance-Sheet / Portfolio CRE Lending (FSALADAG)

Keywords

• Mortgage banking
• Housing finance
• Construction lending
• Savings accounts
• Financial advisory

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Mortgage Lending: The primary revenue stream involves providing mortgage loans to customers for purchasing, building, or renovating residential properties. Interest rates applied (e.g., 22% mentioned in calculator). Loans are structured with tenors up to 30 years.
2. Savings Account Fees: Homebase Mortgage Savings Account enables customers to save and build mortgage equity. The bank accepts savings and tenured deposits, generating revenue from the spread between lending and deposit rates.
3. Construction Finance: Syndicated and direct financing for real estate development transactions. The bank accesses both local and offshore financing for viable transactions along the real estate value chain.
4. Financial Advisory Services: Advisory services for transaction analysis, project financials, financing optimization, and investment risk hedging for real estate decisions.
5. Fixed Deposit Accounts: Fixed deposit products attracting both short-term and long-term funds at competitive rates, generating revenue from interest rate spreads.
6. Debit Card Services: Debit card issuance and renewal services to individual and joint account holders operating Savings or Current accounts. Renewal fee of N2,200 per card.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels4 records

Core offering

Homebase Mortgage Bank is a Primary Mortgage Bank licensed by the Central Bank of Nigeria that provides residential mortgage loans (including NHF-backed loans) with tenors up to 30 years, savings and current accounts designed to build mortgage equity, fixed deposit accounts, syndicated construction finance for real estate developments, debit cards, and financial advisory services for real estate transactions. The bank distributes these offerings through a Lagos branch, a proprietary mobile app, internet banking, USSD, and online application portals.

Product overview

Homebase Mortgage Bank operates as a primary mortgage bank offering a unified platform of mortgage and banking products. The core portfolio includes mortgage loans (with NHF and Homebase Mortgage Loan options), savings and current accounts, and fixed deposit accounts. Additional services include construction finance for real estate transactions, debit cards, and financial advisory. The digital suite encompasses a mobile app, internet banking, and online calculators (mortgage, affordability, refinance). A customer data collection portal streamlines the application process. The bank also provides downloadable forms and a whistle blower portal for compliance.

Differentiator

Problem solved

Functional benefit

Products and services

• Homebase Mortgage Loans Primary mortgage lending product enabling customers to acquire residential properties through financing options, including NHF (National Housing Fund) and standard mortgage types, with tenors up to 30 years. Targeted at professionals, public service workers, cooperative societies, corporate bodies, and individual homebuyers.
• Homebase Mortgage Savings Account Savings account that enables customers to save and build mortgage equity for targeted purposes such as household purchases and home improvement. For individual and joint account holders seeking to accumulate funds toward home ownership.
• Homebase Mortgage Current Account Current account enabling customers to access mortgages as well as construction finance facilities. For individuals and joint account holders needing transactional banking tied to mortgage and construction finance relationships.
• Homebase Mortgage Fixed Deposit Accounts Fixed deposit product that attracts both short- and long-term funds at competitive rates. For individuals, joint account holders, and groups seeking fixed-income deposit products.
• Construction Finance Finance service for guiding and seeing through big-ticket turnkey transactions along the real estate value chain, providing housing within Nigeria with capacity to syndicate local and offshore financing for viable transactions. Targeted at real estate developers and corporate bodies.
• Homebase Debit Card Plastic payment card for making purchases instead of cash, with funds debited directly from the user's bank account. Issued to individual and joint account holders operating Savings or Current accounts at Homebase. Annual renewal fee is N2,200.
• Financial Advisory Advisory service that helps customers put together and analyze overall transaction outlay, project financials and viability, optimize financing, and hedge investment risk for real estate decisions. For individuals, corporate bodies, and developers evaluating real estate transactions.

Quantifiable outcome

• 400+ completed projects facilitated
• +3 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• NMRC (Nigeria Mortgage Refinance Company Plc)coreStrategic or Co-development PartnerNMRC is a non-executive director position held by Dr. Femi Johnson, the founder of Homebase Mortgage Bank. NMRC provides mortgage refinancing facilities enabling Homebase to access capital for on-lending to customers.
• FMBN (Federal Mortgage Bank of Nigeria)coreStrategic or Co-development PartnerFMBN is the primary regulator and funding source for National Housing Fund (NHF) loans. Homebase Bank processes NHF mortgage loans as an accredited Primary Mortgage Institution (PMI) and Mortgage Loan Originator (MLO).
• NIBSS (Nigerian Inter-Bank Settlement System)coreTechnology or IntegrationNIBSS integration enables electronic payment processing and interbank transactions for Homebase Bank's digital banking services.
• InterswitchcoreTechnology or IntegrationInterswitch integration provides payment switch services and card processing capabilities for Homebase Bank's debit card and transaction services.
• Central Bank of Nigeria (CBN)coreOthersCBN is the primary regulator for Homebase Mortgage Bank. The bank is licensed by CBN as a Primary Mortgage Bank (PMB) and operates under CBN regulatory oversight including cashless policy requirements.
• Family Homes Fund (FHF)minorStrategic or Co-development PartnerFHF is a N500 Billion social intervention program for housing by the Federal Republic of Nigeria. Dr. Roland Igbinoba, a director of Homebase, was a consultant on FHF design and transaction structure.
• Mortgage Banking Association of Nigeria (MBAN)minorStrategic or Co-development PartnerDr. Femi Johnson serves as Vice Chairman of the Board of Trustees of MBAN, where he previously served as President from 2013 to 2017. MBAN is the industry association for mortgage banks in Nigeria.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• FirstTrust Mortgage Bank Plc (formerly TrustBond Mortgage Bank): Nigerian Primary Mortgage Bank offering retail mortgage origination, savings, and NHF loans. Directly comparable as a CBN-licensed PMB serving similar professionals and public-sector customers across Nigeria.
• AG Mortgage Bank Plc: Listed Nigerian PMB focused on residential mortgages and construction finance. A direct competitor for NHF loans, mortgage origination, and developer financing, with overlapping target segments.
• Imperial Homes Mortgage Bank: CBN-licensed PMB offering residential mortgages, construction finance, and savings products. Directly comparable given similar product mix and target customer segments in Nigeria's mortgage market.

Broad incumbents

• Fidelity Bank Plc: Tier-1 Nigerian commercial bank offering mortgage products, savings accounts, and construction finance. A broader incumbent with overlapping mortgage and deposit products competing for the same professionals and corporates.
• Guaranty Trust Bank (GTBank / GTCO): One of Nigeria's largest banks offering mortgage loans, salary-backed housing finance, and construction financing. Represents a broader incumbent with significantly greater scale and branch reach.
• Stanbic IBTC Bank: Large Nigerian commercial bank offering mortgage loans, savings products, and real-estate advisory. Competes for the same professional and corporate customer base as Homebase but with a wider product suite.
• Ecobank Nigeria: Pan-African bank with a Nigerian subsidiary offering mortgage products, savings, and construction finance. A broader incumbent with continental reach but offering overlapping mortgage capabilities.

Regional players

• SunTrust Bank Nigeria: Mid-sized Nigerian commercial bank offering mortgage and SME products with similar customer profiles. Comparable in scale and Nigerian-only focus, though broader than pure-play mortgage.
• Polaris Bank: Nigerian commercial bank offering mortgage and savings products to retail and SME customers. Comparable as a mid-sized Nigeria-focused deposit-taker with mortgage origination.

Others

• Jaiz Bank Plc: Nigeria's leading non-interest (Islamic) bank offering housing finance products. Comparable as a CBN-licensed Nigerian depository lender serving the same professionals and cooperative/corporate segments, though with a differentiated model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/homebasebank
• LinkedInlinkedin.com/company/homebase-mortgage-bank

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Homebase Mortgage Bank