Determinants of intention of using mortgage in financing home ownership in Bauchi, Nigeria

Purpose - This paper aims to evaluate the bane of home ownership in Nigeria through mortgage financing by examining the determinants of intention of using mortgage in financing home ownership. Design/methodology/approach - The paper adopted a survey quantitative research design. Atotal of 235 valid questionnaires randomly distributed were retrieved from 300 potential homeowners who were the sample of the research. Partial least squares-structural equation modeling was used for data analysis and hypotheses testing. Findings - The findings revealed that religious perception on mortgage was the most significant determinant of intention of using mortgage in financing home-ownership. Subjective norms and perceived behavioral control also have significant effect on intention of using mortgage financing. However, attitude and familiarity/knowledge of mortgage were found not to have a significant effect on intention of using mortgage financing. The determinants cumulatively determined 77.6 per cent ( R2 = 0.776) of the variance in intention of using mortgage in financing home ownership. Practical implications - The research contributed to knowledge and has practical implications to policy makers, mortgage institutions, investors and the society. Originality/value - The paper uniquely explores the bane of home-ownership through mortgage financing by examining potential home-owners' intention of using mortgage financing. To authors' knowledge, this is the first paper to evaluate intention of using mortgage financing, at least in Nigeria.