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Loans and Mortgages

  • Features
  • Benefits
  • Requirements
  • 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
  •  
  • Features
  • Benefits
  • Requirements
  • Amount not exceeding N1m Maximum 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
  •  
  • Procedure
  • From Whom
  • General Requirement
  • Construction
  • Purchase
  • 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.
  •  
  • Features
  • Benefits
  • Requirements
  • 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
  •  
  • Features
  • Benefits
  • Requirements
  • 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
  •  
  • Features
  • Benefits
  • Requirements
  • 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
  •  
  • Features
  • Benefits
  • Requirements
  • Amount not exceeding N1m Maximum 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
  •  
  • Features
  • Benefits
  • Requirements
  • 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
  • Features
  • Benefits
  • Requirements
  • 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
  •  
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