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Mortgage Overview

  • The National Housing Fund (NHF) is an FMBN product, administered through PMIs, aimed at providing mortgage finance to Nigerians who are contributors to the National Housing scheme.


  • Features

    The contributors can access loans ranging up to N15,000,000.00 with an equity contribution of 10% - 30% of the loan amount depending on the loan amount. The Funds are disbursed by Federal Mortgage Bank of Nigeria to Homebase Mortgage Bank for onward disbursement to the individual customers.


    Key Features and Benefits: 


    • Interest rate on mortgage loan 6% p.a.
    • Repayment period up to 30years (tied to retirement)
    • Minimum savings period 6 months
    • Security Financed property
      Loan Buckets Equity
    1 Up to N15M 30%
    2 Up to 10M 20%
    3 Up to 5M 10%

    Basic Requirements:

    • PMB Application form
    • 2 passport photographs
    • Photocopy of title documents or letter of allocation
    • Offer and acceptance of offer
    • Photocopy of approved building plan (construction loan)
    • Photocopy of BOQ (construction loan)
    • Verification of applicants address (KYC form from PMB)
    • Evidence of payment of equity contribution (account statement printout with HBMB Ltd)
    • Photocopy of Valuation report (signed and sealed).
    • Photocopy of NHF pass book (All pages).
    • Photocopy of 3 months pay slip preceding the months of application (for employed applicants).
    • Photocopy of tax clearance.
    • Processing fee of 3% of loan value. (1% payable upfront and 2% upon approval)
    • Affordability test.(Check to ensure you do not pay more than 33.333 of your net monthly salary as repayment)

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