How Nigerians can access FG’s mortgage loan to build or buy a home

Nigerians seeking to buy, build or renovate homes can now access mortgage financing of up to ₦50 million through the National Housing Fund, administered by the Federal Mortgage Bank of Nigeria (FMBN). According to Punch Newspapers, the NHF Mortgage Loan carries an interest rate of 6 per cent per annum with repayment periods of up to 30 years.

Eligible applicants must be registered NHF contributors for at least six months, apply through an FMBN-accredited Primary Mortgage Bank, and meet income and property requirements. FMBN has warned Nigerians against fraudsters posing as loan facilitators demanding upfront payments.