NHF MORTGAGE LOAN
Empowering Nigerians to Own Homes Through Accessible Mortgage Solutions
NHF MORTGAGE LOAN
This facility is granted at 4% interest to accredited Primary Mortgage Banks (PMBs) for on-lending at 6% to NHF contributors over a maximum tenor of 30 years, which is secured by the mortgaged property.
A contributor can access up to ₦50 million from the Fund through an accredited and licensed PMB as a mortgage loan to build, buy, improve or renovate own home after 6 (six) months of continuous contributions. These lending conditions make the NHF unequalled as a vehicle for affordable housing delivery in Nigeria.
Terms and Conditions for NHF Loans
WHO CAN APPLY
- Any Nigerian above the age of 18
- Applicant must be a contributor to the National Housing Fund for a minimum period of six months
- Applicant must have satisfactory evidence of regular flow of income to guarantee loan repayment
PURPOSE
- The loan shall be for the purpose of building, purchasing or renovating a residential accommodation
HOW TO APPLY
- Apply through a duly licensed and accredited mortgage loan originator (MLO) of your choice
- The MLO must be accredited by FMBN to access the NHF facility
- Application forms for NHF loans are obtainable from the MLOs
SECURITY FOR THE LOAN
- The property for which the loan is sought shall serve as security for the loan
- The property shall conform with existing planning laws and regulations
- The property shall possess sufficient value to recover the loan
- A mortgage property shall be insured against hazards
- The loan shall be secured by first legal mortgage of the property
HOW MUCH TO APPLY FOR
- Maximum loan of ₦15,000,000.00 or as determined by the Bank
- No individual should be given a loan in excess of 90% of the cost or value of the property
- Equity contribution: ₦6M-₦15M - 10% equity, ₦5M or less - 0% equity
INTEREST RATE & REPAYMENT
- Interest rate not more than 6% per annum as prescribed by NHF Act
- Maximum repayment period of 30 years
- Repayment through the Mortgage Loan Originator
Other NHF Loan Facilities
Estate Development Loan
The EDL is a facility granted to private developers, State housing corporations and housing cooperatives to bridge the housing deficit through mass production of houses for ownership by NHF contributors.
Home Renovation Loan
This loan affords Nigerians an opportunity to access mortgage loans for the renovation or improvement of their existing homes.
SERVICES
What NHF Mortgage Loan Offers
Affordable Interest Rates
NHF loans come with subsidized interest rates at 6% per annum, making them significantly cheaper than commercial mortgages.
Flexible Repayment Options
Enjoy extended repayment periods up to 30 years with flexible payment schedules tailored to your financial capacity.
Multiple Property Options
Finance building, purchasing, improving, or renovating residential properties with NHF mortgage solutions.
Easy Application Process
Apply through accredited Primary Mortgage Banks with streamlined procedures and dedicated support.
Why Choose NHF Mortgage Loan
Contact
Federal Mortgage Bank of Nigeria Headquarters, Abuja
0700-CALL-NHF (0700-225-5643)
info@nhf.gov.ng
