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Jubilee Flats and Terraces

Top 10 to know: National Housing Fund NHF (Mortgage) Nigeria

National Housing Fund Scheme (NHF) is a Federal Government introduced scheme, to which all public servants and employees in the organized private sector within the country are expected to contribute 2.5% of their monthly salary to Federal Mortgage Bank of Nigeria, managers of the fund.

Top 10 to know: National Housing Fund NHF (Mortgage) Nigeria

  • NHF is the Nigerian provider of Nigeria Mortgages, to Government workers and established private Organizations, provided to Nigerian citizens.
  • A minimum contribution of 2.5% monthly of your monthly salary to Federal Mortgage Bank of Nigeria, managers of the fund is requested.
  • To be eligible for the NHF loan, a contributor must be above the age of 18 and must have contributed to the Fund for a period not less than six (6) months. The applicant must have satisfactory evidence of a regular flow of income to guarantee loan repayment.
  • Individuals can only apply through a duly licensed and accredited Mortgage Bank of their choice and not directly to the FMBN. (we can help in arranging a mortgage, once qualified)
  • (we can help in arranging a mortgage, once qualified)

NHF Nigeria

Requirements for accessing an NHF Loan

    • Open a savings account with a registered Mortgage Bank
    • Contribution to the fund for at least six months prior to application.
    • Have satisfactory evidence of a regular flow of income to guarantee the loan.
    • Submit photocopies of valid title documents (e.g. C of O).
    • Approved survey/site plans
    • Approved building plans
    • Priced Bill of Quantities where applicable
    •  Valuation report prepared by a firm of registered surveyors and valuers where applicable
    • Three years tax clearance certificate
    • Letter of consent to mortgage to your chosen Mortgage Bank
    • Completed prescribed mortgage loan application form
    • Evidence of NHF participation
    • Copy of payslips for the previous three months
    • Equity contribution of a personal stake of 30 percent, 20 percent or 10 percent depending on the loan amount applied for loans of N15 million, N10 million and N5 million respectively
    • A borrower is entitled to a maximum loan of fifteen million naira (N15, 000,000.00) or as determined by the Bank.Equity contribution based on the new loan amounts is as follows:
      – N15,000,000.00 – 30%
      – N10,000,000.00 – 20%
      – N5,000,000.00 – 10%
    •  The borrowed capital is repayable over a maximum of 30 years at a rate of 6% interest.
    • Offer letter/Acceptance and Allocation letter (in case of government projects)
    • In the case of a registered self-employed applicant, a copy of Articles and Memorandum of Association and a copy of Certificate of Incorporation as evidence of employment status must be submitted.

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