No. 39 Durban Street, Wuse II, Abuja.
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Products and Services

Home Financial Solutions

banking  FHA Home Renovation

  • Amount not exceeding N1mMaximum tenor 2 years
  • Repayment terms of monthly, quarterly and bulk repayments
  • Interest rate 21% per annum
  • Commitment fee of 2% flat
  • The purpose is for house renovation
  • Targeted at income earners/civil servants
  • It allows customers acquire up to N1m for house renovation
  • The product is also beneficial to customers with mortgage without additional collateral
  • Easy repayments spread up to 24 months
  • Loan with ease, not more than two weeks of application
  • Only 10% equity contribution needed
  • Domiciliation of salaries
  • Handwritten application
  • Six months salary slip (civil servants) self-employed 6months bank statement
  • Letter of Undertaking (civil servants)
  • Acceptable collateral
  • Customer stake of 10% of N1m
  • Purchase of Mortgage Redemption Application Loan (@N10,000.00) only

Download the Form Here

 

banking  FHA Home Ownership

  • Amount not exceeding N1mMaximum tenor 2 years
  • Repayment terms of monthly, quarterly and bulk repayments
  • Interest rate 21% per annum
  • Commitment fee of 2% flat
  • The purpose is for house renovation
  • Targeted at income earners/civil servants
  • It allows customers acquire up to N1m for house renovation
  • The product is also beneficial to customers with mortgage without additional collateral
  • Easy repayments spread up to 24 months
  • Loan with ease, not more than two weeks of application
  • Only 10% equity contribution needed
  • Domiciliation of salaries
  • Handwritten application
  • Six months salary slip (civil servants) self-employed 6months bank statement
  • Letter of Undertaking (civil servants)
  • Acceptable collateral
  • Customer stake of 10% of N1m
  • Purchase of Mortgage Redemption Application Loan (@N10,000.00) only

Download the Form Here

 

banking  National Housing Fund

  • The scheme was established by Act No.3 of 1992
  • The bank collects contributions to NHF based mainly on statutory deductions and remittances of 2.5% of monthly basic income of Nigerian workers earning up to N3, 000.00 and above per annum.
  • An applicant must b e a contributor to the NHF scheme for a period not less than six (6) monthly
  • Affordability: One third (1/3) of monthly income as maximum repayment.
  • Loan Tenure: The maximum tenure of the loan is 30 years. This is dependent on the age of the applicant or number of years in service as the retirement age currently stands at 60 years.
  • Interest rate: The loan attracts 6% interest per annum on annuity basis, payable monthly.
  • Loan to Value Ratio: The customer make 10 – 30% equity depending on the amount
  • Security for loan: The loan to an individual must be secured by a first legal mortgage of the property to be financed. A good title to the land is required.
  • An individual is entitled tom maximum of N15million once in life time.
  • Purpose: to construct  renovate and purchase houses
  • Civil servants, employees I private sectors
  • Self employed or informal sector employees by identifying with a co-operative society (ies) as the case may be.
  • Opening an account with FHA Homes Ltd.
  • Completed application form
  • Two passport photographs
  • Photocopy of the title document on the subject property which complies with relevant town planning regulation.
  • Evidence of regular income for those working in an organized public sector (e.g. pay slips for last three months)
  • Current Tax clearance certificate for the past three years.
  • Payment of N1,000.00 for FMBN processing fee.
  • Evidence of contribution to Federal Mortgage bank of Nigeria (NHF) for a minimum period of (6) six months
  • Legal search fee to be borne by the customers
  • Certificate of occupancy/deed of agreement (which ever is applicable)
  • Letter of understanding from the applicant that he/she is obtaining NHF for the first time
  • Birth certificate or declaration of age
  •  Priced Bill Quantities prepared by a registered Quantity Surveyor
  • Approved building plan to ensure that subject property complies with relevant town planning regulation.
  • Offer letter for sale of the property to be purchased
  • Current valuation report prepared by a registered Estate Surveyor and Valuer.

Download the Form Here

 

banking  Buy to Let (B2Let)

This product is aimed at persons looking to the housing sector as a source of income and investment. When planning to buy a property to rent out, the individual would need our Buy to let mortgages. Ensure that the property to be bought would provide enough rental income to cover the running costs, including the mortgage repayments..

  • Amount not exceeding N1mMaximum tenor 2 years
  • Repayment terms of monthly, quarterly and bulk repayments
  • Interest rate 21% per annum
  • Commitment fee of 2% flat
  • The purpose is for house renovation
  • Targeted at income earners/civil servants
  • It allows customers acquire up to N1m for house renovation
  • The product is also beneficial to customers with mortgage without additional collateral
  • Easy repayments spread up to 24 months
  • Loan with ease, not more than two weeks of application
  • Only 10% equity contribution needed
  • Domiciliation of salaries
  • Handwritten application
  • Six months salary slip (civil servants) self-employed 6months bank statement
  • Letter of Undertaking (civil servants)
  • Acceptable collateral
  • Customer stake of 10% of N1m
  • Purchase of Mortgage Redemption Application Loan (@N10,000.00) only

Download the Form Here

 

banking  Moving Home Scheme  (MOHOS)

This is aimed at existing mortgage customers. For individuals who intend to move homes, you can move your FHA mortgage facility with you (moving your mortgage would be subject to terms and conditions) or look for a new deal when you move home.

  • Amount not exceeding N1mMaximum tenor 2 years
  • Repayment terms of monthly, quarterly and bulk repayments
  • Interest rate 21% per annum
  • Commitment fee of 2% flat
  • The purpose is for house renovation
  • Targeted at income earners/civil servants
  • It allows customers acquire up to N1m for house renovation
  • The product is also beneficial to customers with mortgage without additional collateral
  • Easy repayments spread up to 24 months
  • Loan with ease, not more than two weeks of application
  • Only 10% equity contribution needed
  • Domiciliation of salaries
  • Handwritten application
  • Six months salary slip (civil servants) self-employed 6months bank statement
  • Letter of Undertaking (civil servants)
  • Acceptable collateral
  • Customer stake of 10% of N1m
  • Purchase of Mortgage Redemption Application Loan (@N10,000.00) only

Download the Form Here

 

banking  Home Improvement Scheme

For individuals who intend to improve their home. The home must not be encumbered in any form of a facility.

  • Applicants are to provide a verifiable evidence of regular source of income and 20 - 30% down payment.
  • All facilities are repayable before attaining the age of 60 years.
  • Interest rate at prevailing rate.
  • Diaspora applicants must provide at least two surety/guarantor
  • Diaspora applicants must provide clean and clear credit report
  • 1% penalty will be charged on arrears of repayment default.
  • CALL IN CLAUSE – this shall be effected after three (3) consecutive months of default.
  • Domiciliation of salaries
  • Handwritten application
  • Six months salary slip (civil servants) self-employed 6months bank statement
  • Letter of Undertaking (civil servants)
  • Acceptable collateral
  • Customer stake of 10% of N1m
  • Purchase of Mortgage Redemption Application Loan (@N10,000.00) only

Download the Form Here

 

banking Home Equity Mortgage

The Home Equity Mortgage enables homeowners with good title grow wealth by unlocking the equity in their homes. Individuals wishing to take advantage of investment in assets can convert a significant proportion of the value of their homes to liquidity to be able to finance the acquisition of the assets. This avails wealth creation.

  • Domiciliation of salaries
  • Handwritten application
  • Six months salary slip (civil servants) self-employed 6months bank statement
  • Letter of Undertaking (civil servants)
  • Acceptable collateral
  • Customer stake of 10% of N1m
  • Purchase of Mortgage Redemption Application Loan (@N10,000.00) only

Download the Form Here

 
Loans and Mortgages

banking  Business Loans

The PMB in year 2005 offered to general public a product tagged “Unbeatable Offer” on sale of FHA Houses in Gwarinpa and Lugbe Estates and was impressively embraced. In the offer, customers were asked to pay 50% down payment and the balance of 50% spread between 1 – 5 years on Mortgage by FHA Homes Limited at a lower interest rate ranging between 11% and 15% depending on year of repayment chosen.

FHA Homes Limited is now offering mortgages to allottees of FHA Lugbe extension Houses.

HOME OWNERSHIP MORTGAGE ACCOUNT

FHA Homes customers can operate our Mortgage Flexible Account or Savings Mortgage Account which is targeted towards home ownership.  Here, customers dedicate their savings on home ownership or property development.  Withdrawals from the account is highly discouraged until targeted amount for home ownership is met. This Home Ownership Mortgage Account is targeting business Executives, Management Staff, Bankers, Manufacturing Executives, and the likes. 

PROJECT FINANCE

FHA Homes delivers value to her customers by attending to their Project Financing needs.  Depending on the merit of the project, the PMB can Finance part of the project sum for customers.

CONDITIONS FOR MORTGAGE LOANS

An applicant for a loan must satisfy the underlisted conditions:

  1. He or she must be a Nigerian and must have attained the age of 18 years. Where the applicant is a Company. It must be registered under the Companies and Allied Matters Decree 1990.
  2. The loan sought for must be for the purpose of:
    1. Construction or purchase of a residential property;
    2. Re-development or re-modeling of an existing property;
    3. Repair or renovation of an existing property.
  3. The architectural and engineering drawings (if any) of the proposed development must have been approved by the relevant Town Planning Authority.
  4. The survey beacons demarcating the plot or holding must be clearly identifiable.
  5. The applicant must hold a valid title to the land, e.g. Certificate of Occupancy.
  6. The consent of the relevant State Governor must be sought for and obtained.
  7. The applicant must produce satisfactory evidence of income namely:
    1. Current payslip for employed persons;
    2. Tax assessment and tax receipts for three (3) years immediately preceding the  year of  application for self-employed applicants;
    3. Audited accounts for three (3) years immediately preceding the year of application including projected cash flow statement for companies and other institutions.
  8. Every applicant is expected to present his Tax Clearance Certificate.
  9. Every applicant is expected to open an account with FHA Homes Limited with the minimum balance acceptable to the Company at the time of the application for a mortgage loan. Such account must have been operated for a period of not less than six (6) months.
  10. Every applicant must purchase and complete the Company’s Loan Application Form.
  11. Two passport-sized photographs of the applicant.

Note:   Applicant will be required to contribute a personal stake of at least 20% of the cost of development of the property.

 

CHECK LIST FOR OBTAINING MORTGAGE LOAN FROM FHA HOMES LIMITED

  • Opening Account with any Branch of the PMB
  • Payment of Equity contribution of 50% of the value of the property.
  • Domiciliation of salary with the PMB.
  • Purchase of application form.
  • Submission of valid offer letter/title documents to the property.
  • Letter of undertaken by referees or guarantors.
  • Application clearly purpose for which the loan is being sought, tenor and repayment pattern.
  • Right of offset by the customers.
  • Irrevocable standing order to deduct monthly repayment at source from customers salary account with the PMB.
  • Domiciliation of salaries
  • Handwritten application
  • Six months salary slip (civil servants) self-employed 6months bank statement
  • Letter of Undertaking (civil servants)
  • Acceptable collateral
  • Customer stake of 10% of N1m
  • Purchase of Mortgage Redemption Application Loan (@N10,000.00) only

Download the Form Here

 

banking  Residential Mortgages

The PMB in year 2005 offered to general public a product tagged “Unbeatable Offer” on sale of FHA Houses in Gwarinpa and Lugbe Estates and was impressively embraced. In the offer, customers were asked to pay 50% down payment and the balance of 50% spread between 1 – 5 years on Mortgage by FHA Homes Limited at a lower interest rate ranging between 11% and 15% depending on year of repayment chosen.

FHA Homes Limited is now offering mortgages to allottees of FHA Lugbe extension Houses.

HOME OWNERSHIP MORTGAGE ACCOUNT

FHA Homes customers can operate our Mortgage Flexible Account or Savings Mortgage Account which is targeted towards home ownership.  Here, customers dedicate their savings on home ownership or property development.  Withdrawals from the account is highly discouraged until targeted amount for home ownership is met. This Home Ownership Mortgage Account is targeting business Executives, Management Staff, Bankers, Manufacturing Executives, and the likes. 

PROJECT FINANCE

FHA Homes delivers value to her customers by attending to their Project Financing needs.  Depending on the merit of the project, the PMB can Finance part of the project sum for customers.

CONDITIONS FOR MORTGAGE LOANS

An applicant for a loan must satisfy the underlisted conditions:

  1. He or she must be a Nigerian and must have attained the age of 18 years. Where the applicant is a Company. It must be registered under the Companies and Allied Matters Decree 1990.
  2. The loan sought for must be for the purpose of:
    1. Construction or purchase of a residential property;
    2. Re-development or re-modeling of an existing property;
    3. Repair or renovation of an existing property.
  3. The architectural and engineering drawings (if any) of the proposed development must have been approved by the relevant Town Planning Authority.
  4. The survey beacons demarcating the plot or holding must be clearly identifiable.
  5. The applicant must hold a valid title to the land, e.g. Certificate of Occupancy.
  6. The consent of the relevant State Governor must be sought for and obtained.
  7. The applicant must produce satisfactory evidence of income namely:
    1. Current payslip for employed persons;
    2. Tax assessment and tax receipts for three (3) years immediately preceding the  year of  application for self-employed applicants;
    3. Audited accounts for three (3) years immediately preceding the year of application including projected cash flow statement for companies and other institutions.
  8. Every applicant is expected to present his Tax Clearance Certificate.
  9. Every applicant is expected to open an account with FHA Homes Limited with the minimum balance acceptable to the Company at the time of the application for a mortgage loan. Such account must have been operated for a period of not less than six (6) months.
  10. Every applicant must purchase and complete the Company’s Loan Application Form.
  11. Two passport-sized photographs of the applicant.

Note:   Applicant will be required to contribute a personal stake of at least 20% of the cost of development of the property.

 

CHECK LIST FOR OBTAINING MORTGAGE LOAN FROM FHA HOMES LIMITED

  • Opening Account with any Branch of the PMB
  • Payment of Equity contribution of 50% of the value of the property.
  • Domiciliation of salary with the PMB.
  • Purchase of application form.
  • Submission of valid offer letter/title documents to the property.
  • Letter of undertaken by referees or guarantors.
  • Application clearly purpose for which the loan is being sought, tenor and repayment pattern.
  • Right of offset by the customers.
  • Irrevocable standing order to deduct monthly repayment at source from customers salary account with the PMB.
  • Domiciliation of salaries
  • Handwritten application
  • Six months salary slip (civil servants) self-employed 6months bank statement
  • Letter of Undertaking (civil servants)
  • Acceptable collateral
  • Customer stake of 10% of N1m
  • Purchase of Mortgage Redemption Application Loan (@N10,000.00) only

Download the Form Here

 

banking  Outright Purchases

The PMB in year 2005 offered to general public a product tagged “Unbeatable Offer” on sale of FHA Houses in Gwarinpa and Lugbe Estates and was impressively embraced. In the offer, customers were asked to pay 50% down payment and the balance of 50% spread between 1 – 5 years on Mortgage by FHA Homes Limited at a lower interest rate ranging between 11% and 15% depending on year of repayment chosen.

FHA Homes Limited is now offering mortgages to allottees of FHA Lugbe extension Houses.

HOME OWNERSHIP MORTGAGE ACCOUNT

FHA Homes customers can operate our Mortgage Flexible Account or Savings Mortgage Account which is targeted towards home ownership.  Here, customers dedicate their savings on home ownership or property development.  Withdrawals from the account is highly discouraged until targeted amount for home ownership is met. This Home Ownership Mortgage Account is targeting business Executives, Management Staff, Bankers, Manufacturing Executives, and the likes. 

PROJECT FINANCE

FHA Homes delivers value to her customers by attending to their Project Financing needs.  Depending on the merit of the project, the PMB can Finance part of the project sum for customers.

CONDITIONS FOR MORTGAGE LOANS

An applicant for a loan must satisfy the underlisted conditions:

  1. He or she must be a Nigerian and must have attained the age of 18 years. Where the applicant is a Company. It must be registered under the Companies and Allied Matters Decree 1990.
  2. The loan sought for must be for the purpose of:
    1. Construction or purchase of a residential property;
    2. Re-development or re-modeling of an existing property;
    3. Repair or renovation of an existing property.
  3. The architectural and engineering drawings (if any) of the proposed development must have been approved by the relevant Town Planning Authority.
  4. The survey beacons demarcating the plot or holding must be clearly identifiable.
  5. The applicant must hold a valid title to the land, e.g. Certificate of Occupancy.
  6. The consent of the relevant State Governor must be sought for and obtained.
  7. The applicant must produce satisfactory evidence of income namely:
    1. Current payslip for employed persons;
    2. Tax assessment and tax receipts for three (3) years immediately preceding the  year of  application for self-employed applicants;
    3. Audited accounts for three (3) years immediately preceding the year of application including projected cash flow statement for companies and other institutions.
  8. Every applicant is expected to present his Tax Clearance Certificate.
  9. Every applicant is expected to open an account with FHA Homes Limited with the minimum balance acceptable to the Company at the time of the application for a mortgage loan. Such account must have been operated for a period of not less than six (6) months.
  10. Every applicant must purchase and complete the Company’s Loan Application Form.
  11. Two passport-sized photographs of the applicant.

Note:   Applicant will be required to contribute a personal stake of at least 20% of the cost of development of the property.

 

CHECK LIST FOR OBTAINING MORTGAGE LOAN FROM FHA HOMES LIMITED

  • Opening Account with any Branch of the PMB
  • Payment of Equity contribution of 50% of the value of the property.
  • Domiciliation of salary with the PMB.
  • Purchase of application form.
  • Submission of valid offer letter/title documents to the property.
  • Letter of undertaken by referees or guarantors.
  • Application clearly purpose for which the loan is being sought, tenor and repayment pattern.
  • Right of offset by the customers.
  • Irrevocable standing order to deduct monthly repayment at source from customers salary account with the PMB.
  • Domiciliation of salaries
  • Handwritten application
  • Six months salary slip (civil servants) self-employed 6months bank statement
  • Letter of Undertaking (civil servants)
  • Acceptable collateral
  • Customer stake of 10% of N1m
  • Purchase of Mortgage Redemption Application Loan (@N10,000.00) only

Download the Form Here

 

banking  Personal Loans

This is aimed at existing mortgage customers. For individuals who intend to move homes, you can move your FHA mortgage facility with you (moving your mortgage would be subject to terms and conditions) or look for a new deal when you move home.

  • Amount not exceeding N1mMaximum tenor 2 years
  • Repayment terms of monthly, quarterly and bulk repayments
  • Interest rate 21% per annum
  • Commitment fee of 2% flat
  • The purpose is for house renovation
  • Targeted at income earners/civil servants
  • It allows customers acquire up to N1m for house renovation
  • The product is also beneficial to customers with mortgage without additional collateral
  • Easy repayments spread up to 24 months
  • Loan with ease, not more than two weeks of application
  • Only 10% equity contribution needed
  • Domiciliation of salaries
  • Handwritten application
  • Six months salary slip (civil servants) self-employed 6months bank statement
  • Letter of Undertaking (civil servants)
  • Acceptable collateral
  • Customer stake of 10% of N1m
  • Purchase of Mortgage Redemption Application Loan (@N10,000.00) only

Download the Form Here

 

[icon name="question"]

How do I open an account with FHA Mortgage Bank?

Answer to question 1 here.

[icon name="question"]

I have an account with FHA Mortgage Bank, How do I enroll for the Home Ownership product?

Answer to question 2 here.

[icon name="question"]

How do I qualify for home equity mortgage?

Answer to question 3 here.

FHA Mortgage Bank

FHA Mortgage Bank Ltd was incorporated by Federal Housing Authority (FHA) as wholly owned subsidiary on 18th June 1997 (RC:314,882) and licensed to commence business as  a Primary Mortgage Institution on 17th December 1998 (License No: 000315) under the regulatory Authorities of CBN and NDIC. It is a Limited Liability Company established under Corporate and Allied Maters Act (CAMA).

Contact

39, Durban Street Off Adetokunbo Ademola Crescent, Wuse II,
PMB 414 Garki, Abuja, FCT, Nigeria.
Phone: +234-9-6725582
Fax: +234-9-6725582
Email: info@fhamortgage.gov.ng

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