An assessment of the role of primary mortgage institution in mortgage financing of residential properties in Abuja Department: Estate Management By: JoGiproject5050 Project ID: 9194 Rating: (5.0) votes: 1Rate this project12345 Price:₦5000 Get the Complete MaterialAbstractThis study aims to assess the role of Primary Mortgage Institutions (PMIs) in the mortgage financing of residential properties in Abuja, Nigeria. To achieve this aim, specific objectives were pursued, including assessing the role of PMIs in mortgage financing, determining the mortgage facilities offered by PMIs, examining the procedure for awarding mortgage facilities to housing agencies, and evaluating the challenges faced by PMIs in financing residential properties in Abuja. The study adopted a survey research design, focusing on questionnaire administration and observation as primary data collection methods. The findings revealed varying years of engagement with PMIs among respondents, with the majority owning their houses for less than 6-10 years. The primary sources of funds for PMIs were fixed deposits/savings and the capital market. The study also highlighted the types of mortgage facilities sought by respondents, with the majority opting for National Housing Finance (NHF) home ownership. Furthermore, the study revealed that a significant proportion of respondents patronize mortgage products for residential property development, while others identified interest charges and lack of incentives as hindrances to residential property development. Additionally, lending policies were found to influence PMIs in financing residential property development, with a majority of respondents acknowledging the significant contribution of PMIs to financing residential properties. Based on the findings, several recommendations were made to improve the effectiveness of PMIs and the overall mortgage industry. These recommendations include encouraging PMIs to improve their capital base, streamlining the processing of National Housing Fund (NHF) loans, lowering interest rates on PMI-funded loans, implementing sound economic and monetary policies, and continuously improving lending policies. In conclusion, the study provides valuable insights into the challenges and opportunities facing PMIs in Abuja''''''''s housing market. ...Preview Download Preview +Other Estate Management project topics and materials you might be interested in»Effect of building material cost on housing development in Nigeria»Effects of obsolescence on residential properties (a case study of Oparanozie street in Owerri, Imo state) »An assessment of residential housing problem in the urban areas of Nigeria (a case study of Umuahia urban)»Effect of environmental pollution on real estate development (a case study of Warri, Delta state)»Recreational Property Development in Owerri Imo State ( A Case Study of Owerri Municipal )»Problems of urban land management (a case study of Owerri capital territory) »Challenges associated with the valuation of specialized properties»Challenges associated with real estate investment in Enugu, Nigeria»Impact of land use act on property development in Nigeria»Effect of location on rental value of commercial property - a case study of Bida metropolis»The economic implication of multiple hostel accommodation in tertiary institution in Nigeria (a case study of federal polytechnic Nekede, Owerri) »The effect of oil spillage on residential property investment (a case study of Oyibo in Rivers state) »The impact of Akwa ibom state university of science and technology on social development of mkpat enin L.G.A Akwa ibom state»Comparative analysis of the impact of infrastructural facilities on the value of properties»Land use regulations and its effects on land development