CMBANK

To meet housing needs, Federal Government decided to formulate the first ever National Housing Policy and introduced the National Housing Fund.

NHF mortgage plan is designed to provide access to the National Housing Fund (NHF) loan from the Federal Mortgage Bank of Nigeria (FMBN) for individuals to buy, build, or renovate their houses. It is applicable to employed and self-employed individuals.

KEY FEATURES

• Loan exposure is maximum of N15,000,000 depending on the house type and location
• Equity contribution starts from 10% (depending on the proposed loan amount)
• 6% interest rate
• Maximum of ten (10) years tenor
• Available to individuals of 18 years and above

KEY BENEFITS

• Become a homeowner with ease at affordable and appreciable cost.
• Long repayment tenor is subject to applicant’s age (up to 25 years repayment period)
• Stable interest rate throughout the tenor of the loan
• Flexible and convenient monthly repayment to match the customer’s income

   NHF REQUIREMENTS

• Minimum equity contribution of 10%
• 6 months’ Pay slips
• Four passport photographs
• Offer Letter (Allocation Letter)
• Account opening (Current Account) of N10,000
• NHF contribution Passbook (at least 6 months contribution)
• Birth Certificate or Declaration of Age
• Letter of Undertaking from applicant (Undertaking to have never accessed NHF Loan)