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An Appraisal of Mortgage Accessibility for Middle-Income Earners in Gombe State

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  • NGN 5000

Background of the Study
Mortgage financing plays a pivotal role in enabling middle-income earners to access homeownership, especially in rapidly urbanizing states like Gombe. However, many middle-income earners in Gombe State face significant barriers in accessing mortgage products. These barriers include high interest rates, strict eligibility criteria, and limited availability of mortgage products tailored to the needs of middle-income households (Muhammad & Ibrahim, 2024).

Gombe State has witnessed rapid urbanization, and many middle-income earners aspire to own homes. However, the lack of accessible mortgage options has restricted their ability to participate in the formal housing market. This study aims to appraise the accessibility of mortgage products for middle-income earners in Gombe State, examining the factors that influence their access to mortgage financing and offering recommendations to improve accessibility.

Statement of the Problem
Despite the importance of mortgages in facilitating homeownership, middle-income earners in Gombe State face significant challenges in accessing mortgage products. High interest rates, limited knowledge about mortgage options, and strict eligibility requirements have created a barrier for many individuals seeking homeownership. This study will explore the factors affecting mortgage accessibility for middle-income earners in Gombe State and propose strategies for improving access to mortgage financing.

Objectives of the Study

  1. To appraise the accessibility of mortgage products for middle-income earners in Gombe State.
  2. To identify the factors that affect mortgage accessibility for middle-income earners in Gombe State.
  3. To recommend strategies to improve mortgage accessibility for middle-income earners in Gombe State.

Research Questions

  1. What is the level of mortgage accessibility for middle-income earners in Gombe State?
  2. What factors affect mortgage accessibility for middle-income earners in Gombe State?
  3. What strategies can be implemented to improve mortgage accessibility for middle-income earners in Gombe State?

Research Hypotheses
Ho1: Mortgage accessibility for middle-income earners in Gombe State is not significantly influenced by interest rates, eligibility criteria, or financial knowledge.
Ho2: The factors affecting mortgage accessibility for middle-income earners in Gombe State do not significantly impact their ability to obtain home loans.
Ho3: There are no significant strategies that can be implemented to improve mortgage accessibility for middle-income earners in Gombe State.

Scope and Limitations of the Study
The study will focus on middle-income earners in Gombe State, evaluating their access to mortgage products and the factors that influence this access. The limitations include potential difficulty in obtaining reliable data from financial institutions and respondents.

Definitions of Terms

  • Mortgage Accessibility: The ease with which individuals can obtain mortgage financing to purchase a home.
  • Middle-Income Earners: Individuals whose income falls between the low-income and high-income thresholds, typically earning enough to qualify for mortgage financing but facing challenges in obtaining it.
  • Mortgage Products: Financial products offered by banks or mortgage institutions to facilitate the purchase of property through loans.




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