{"id":5687,"date":"2022-05-28T23:19:42","date_gmt":"2022-05-28T23:19:42","guid":{"rendered":"http:\/\/mercy-homes.com\/?p=5687"},"modified":"2022-05-28T23:19:42","modified_gmt":"2022-05-28T23:19:42","slug":"top-10-to-know-national-housing-fund-nhf-mortgage-nigeria","status":"publish","type":"post","link":"https:\/\/mercy-house.com\/?p=5687","title":{"rendered":"Top 10 to know: National Housing Fund NHF (Mortgage) Nigeria"},"content":{"rendered":"<p>National Housing Fund Scheme (<b>NHF<\/b>) is a Federal Government introduced scheme, to which all public servants and employees in the organized private sector within the country are expected to contribute 2.5% of their monthly salary to Federal Mortgage Bank of <b>Nigeria<\/b>, managers of the fund.<\/p>\n<h1 style=\"text-align: center;\">Top 10 to know: National Housing Fund NHF (Mortgage) <a href=\"https:\/\/en.wikipedia.org\/wiki\/Nigeria\">Nigeria <\/a><\/h1>\n<ul>\n<li>NHF is the Nigerian provider of Nigeria Mortgages, to Government workers and established private Organizations, provided to Nigerian citizens.<\/li>\n<li>A minimum contribution of 2.5% monthly of your monthly salary to Federal Mortgage Bank of Nigeria, managers of the fund is requested.<\/li>\n<li>To be eligible for the NHF loan, a contributor must be above the age of 18 and must have contributed to the Fund for a period not less than six (6) months. The applicant must have satisfactory evidence of a regular flow of income to guarantee loan repayment.<\/li>\n<li>Individuals can only apply through a duly licensed and accredited Mortgage Bank of their choice and not directly to the FMBN. (we can help in arranging a mortgage, once qualified)<\/li>\n<li><\/li>\n<\/ul>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone\" src=\"https:\/\/live.mrf.io\/statics\/i\/ps\/storage.googleapis.com\/thisday-846548948316-wp-data\/wp-media\/2018\/08\/97669755-fmbn.jpg?width=1200&amp;enable=upscale\" alt=\"NHF Nigeria\" width=\"1200\" height=\"704\" \/><\/p>\n<h2 style=\"text-align: center;\">Requirements for accessing an NHF Loan<\/h2>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Open a savings account with a registered Mortgage Bank<\/li>\n<li>Contribution to the fund for at least six months prior to application.<\/li>\n<li>Have satisfactory evidence of a regular flow of income to guarantee the loan.<\/li>\n<li>Submit photocopies of valid title documents (e.g. C of O).<\/li>\n<li>Approved survey\/site plans<\/li>\n<li>Approved building plans<\/li>\n<li>Priced Bill of Quantities where applicable<\/li>\n<li>\u00a0Valuation report prepared by a firm of registered surveyors and valuers where applicable<\/li>\n<li>Three years tax clearance certificate<\/li>\n<li>Letter of consent to mortgage to your chosen Mortgage Bank<\/li>\n<li>Completed prescribed mortgage loan application form<\/li>\n<li>Evidence of <a href=\"https:\/\/www.fmbn.gov.ng\/documents\/nhf_conditions.pdf\">NHF<\/a> participation<\/li>\n<li>Copy of payslips for the previous three months<\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Equity contribution of a personal stake of 30 percent, 20 percent or 10 percent depending on the loan amount applied for loans of N15 million, N10 million and N5 million respectively<\/li>\n<li>A borrower is entitled to a<strong> maximum loan of fifteen million naira (N15, 000,000.00<\/strong>) or as determined by the Bank.Equity contribution based on the new loan amounts is as follows:<br \/>\n&#8211; N15,000,000.00 &#8211; 30%<br \/>\n&#8211; N10,000,000.00 &#8211; 20%<br \/>\n&#8211; N5,000,000.00 &#8211; 10%<\/li>\n<li>\u00a0The borrowed capital is repayable over a maximum of 30 years at a rate of 6% interest.<\/li>\n<li>Offer letter\/Acceptance and Allocation letter (in case of government projects)<\/li>\n<li>In the case of a registered\u00a0self-employed applicant, a copy of Articles and Memorandum of Association and a copy of Certificate of Incorporation as evidence of employment status must be submitted.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>National Housing Fund Scheme (NHF) is a Federal Government introduced scheme, to which all public servants and employees in the organized private sector within the country are expected to contribute 2.5% of their monthly salary to Federal Mortgage Bank of Nigeria, managers of the fund. Top 10 to know: National Housing Fund NHF (Mortgage) Nigeria [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5688,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12,21],"tags":[],"_links":{"self":[{"href":"https:\/\/mercy-house.com\/index.php?rest_route=\/wp\/v2\/posts\/5687"}],"collection":[{"href":"https:\/\/mercy-house.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mercy-house.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mercy-house.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mercy-house.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5687"}],"version-history":[{"count":0,"href":"https:\/\/mercy-house.com\/index.php?rest_route=\/wp\/v2\/posts\/5687\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mercy-house.com\/index.php?rest_route=\/"}],"wp:attachment":[{"href":"https:\/\/mercy-house.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mercy-house.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mercy-house.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}