About Us

About Limitless Housing Cooperative

Mortgage Home Loans

This product is designed for members of Limitless Housing Cooperative to acquire affordable homes and pay over a 15-year period. There are accredited mobile agents who collect their deposits electronically daily to ensure their accounts are always funded. A direct debit order mandate is activated on members’ bank account which sweeps daily payments to the Cooperative’s account within the same bank.

Selected prospective home owners who scale the prequalification test successfully participate in an open ballot to determine which batch of home delivery sets they will belong to. Prospective home owners are to make an equity payment of 10% of the value of the home they want to purchase immediately after their allocation letters are issued to them. Once the move into their homes between the 1st and 3rd years, they continue paying down on their loans daily until they finish paying.

Business Loans <br> For Daily Expenses

Who We Are?

Limitless Shelters Housing Cooperative is working towards producing a minimum of 10,000 units of new houses per year to contribute its quota in solving this problem and has deployed a solution that electronically collects the housing savings daily contribution of prospective buyers through mobile agents with electronic devices.

Objective

  • To help low income earners such as artisans, traders, transport operators and civil servants who have a steady flow of income own their own houses.
  • To deliver 10,000 units of standard low cost houses to low income earners in the states per year.
  • To enable beneficiaries, pay for houses over a period of 15 years.
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30 Days Support Loan

The Thrift (Ajo/Adashe/Akawo) System of Savings is a traditional savings system that has been used by communities and families in market places for generations. Our members who often indulge in daily contributions pay 1 day’s contribution (if daily contribution is a fixed amount) or 3.5% of total contributions (if daily contribution is not a fixed amount) as service charge at the end of a month. Members have wallets which they can access online to view their balances anytime. Instant information on any transaction made is accessible online or via sms messaging and this guarantees security.

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Target Savings

Our Target Savings product is designed to help members save towards a specific goal / purpose within a defined period of time. Savings can be done one-off or in installments on a daily, weekly, monthly or quarterly basis, in line with the member’s goal. Agents are not required for collections on this service and our members pay only 5% of the total savings per annum.

30 Days Support Loan

Our 30 days support loan is only applicable to our thrift members.

Interest On loan: the interest on loan is 5% flat per month ie one off.

Repayment Period: The repayment period is 30 days. The customer can repay loan, alongside daily savings.

Maximum Loan Amount: The customer is only entitled to an amount of loan that is equal to his monthly savings, subject to a maximum of N50,000 for starters.

Loan Conditions

  • Customers must save everyday up to the point the loan will be disbursed.
  • Customers must have 1/3 of the amount they want as loan in their account.
  • Customers cannot get more than their last month total savings as loan