The Federal Mortgage Bank Of Nigeria –
Eligibility for Loan
Registration via NHF 1 (employer) and NHF 2 (employee) forms.
Deducted monthly contributions remitted to FMBN promptly. At least 6 months contributions should be made. Passbook to be updated by employer and is transferable from one employment to the other. Yearly statement of cumulative contributions plus accrued interest available.
Apply through any accredited Primary Mortgage Institute (PMI)
Applicant must provide satisfactory evidence of regular income.
NHF – Funding
- Mandatory contribution of 2.5% of monthly income of Nigerians earning =N=3000 and above per annum.
- Commercial and Merchant Banks to invest 10% of their loans and advances portfolio.
- Insurance Companies are mandated to invest 20% of non-life and 40% life funds in the housing sector with 50% of these directly in the funds.
- Financial contributions of the Federal Government.
For more informations : www.fmbn.gov.ng/doc/EligibilityForLoan