The National Housing Fund (NHF) is a scheme created by Federal Government and managed by the Federal Mortgage Bank of Nigeria. The objective of the scheme is to enable every Nigerian have access to affordable but decent homes through Primary mortgage Institutions (PMB) e.g. Nigeria Police Mortgage Bank Plc.
NPMB guarantees you a quick and stress free access to the National Housing Fund after meeting the eligibility criteria.
loan amount is up to N15 million.
Interest rate currently at 6% per annum
Tenor is subject to age or length of service (within 60 years age limit)
Monthly repayment shall not exceed one – third of beneficiary’s gross monthly emolument.
Must open Current Mortgage Account
Minimum savings of 10%, 20% OR 30% of loan amount required.
Minimum opening balance of N50,000.00
Flexible deposit option i.e. daily, weekly, monthly, or quarterly
Free mortgage finance advisory services
Low equity contribution
Your own home before retirement
Fixed rate throughout the duration of the loan. No fluctuation in interest rate.
What to do:
Open a NPMB NHF Account
Evidence of regular flow of income to guarantee loan repayment.
Make Equity Contribution of 10%,20% or 30% depending on loan amount required.
Become a contributor to the NHF (if you are not one already) through making monthly contribution. You qualify after 6 months of REGULAR savings/remittance to FMBN