TY  - JOUR
T1  - Predicting Intention of Using Mortgage in Financing Homeownership in Nigeria:
Application of Theory of Planned Behavior
AU - Usman, Hamza AU - Garba, Mohammed Hamisu AU - Abdullahi, Isa 
JO  - The Social Sciences
VL  - 12
IS  - 3
SP  - 509
EP  - 516
PY  - 2017
DA  - 2001/08/19
SN  - 1818-5800
DO  - sscience.2017.509.516
UR  - https://makhillpublications.co/view-article.php?doi=sscience.2017.509.516
KW  - Homeownership
KW  -mortgage financing
KW  -theory of planned behavior
KW  -PLS-SEM
KW  -general public
AB  - Mortgage financing has been the most effective source of financing homeownership.
However, 80-90% of homeownership in Nigeria is not through this important source. This study adopted a
unique approach of understanding the bane of homeownership through mortgage financing using the Theory
of Planned Behavior (TPB). A sample of 300 potential homeowners in Bauchi Metropolis, Nigeria was drawn
to respond to the closed ended questionnaires distributed to them. The 235 questionnaires were considered
valid for further analysis. Partial Least Square-Structural Equation Modeling (PLS-SEM) was used to analyse
the data. It was found that the exogenous constructs of TPB (Attitude toward mortgage, subjective norms and
perceived behavioral control) explained 66.9 (R<sup>2</sup> = 0.669%) of the variance of intention of using mortgage in
financing homeowership. It was found that subjective norm was the most significant factor that determines
intention of using mortgage in financing homeownership. The study recommended that the policy makers
should design mortgage policies in such a way as to reflect the diverse aspiration of the people. The mortgage
institutions are also recommended to have diverse mortgage windows that accommodate all cultural and social
diversities of people. This study contributed to both the body of knowledge in financing homeownership
through mortgage and has implications to policy makers, mortgage institutions, investors and the general
public.
ER  -