In Nigeria, equity is the percentage of the property price paid upfront as a down payment by the homebuyer. For instance, if you put 20% down on a house, that 20% is your equity. The minimum accepted equity is 20%, and an RSA pension balance can fund up to 25% of the property price towards it.

Loan Duration is the total time it takes to pay off your mortgage in full. New mortgages usually start with a loan duration of 20 years in Nigeria.