How to apply for federal mortgage housing funds scheme – NHF loan Application Process

Last Updated on November 25, 2023 by admin

The Federal Mortgage Housing Funds Scheme (NHF) is a program established by the Nigerian government to provide affordable housing finance for Nigerian citizens.The scheme aims to reduce the financial burden of homeownership by offering low-interest loans for the construction, purchase, or renovation of residential properties.

Administered by the Federal Mortgage Bank of Nigeria (FMBN), this initiative seeks to bridge the housing deficit gap in the country and promote homeownership among Nigerians.

The NHF loan application process is designed to be straightforward and accessible, ensuring that eligible individuals can benefit from this scheme. By understanding the steps involved in applying for an NHF loan, potential applicants can take advantage of this opportunity and fulfill their dreams of owning a home.

Getting an affordable and comfortable home is every body business in Nigeria .Hence federal Government of Nigeria has introduce National Housing Fund (NHF)scheme, which entitles all Nigerians above the age of 21years in paid employment either self employed or salary earner to a low interest, government funded loan.

NHF Mortgage Loan is granted at 4% interest to accredited Primary Mortgage Banks (PMBs) for on-lending at 6% to NHF contributors over a maximum tenor of 30 years, which is secured by the mortgaged property.

Contributor can access up to ₦15million from the Fund through an accredited and licensed PMB as a mortgage loan to build, buy, improve or renovate own home after 6 (six) months of continuous contributions. This lending conditions make the NHF unequalled as a vehicle for affordable housing delivery in Nigeria.

Who can get a mortgage in Nigeria?

The NHF scheme is for Nigerians in all sectors of the economy, particularly those within the low and medium income levels who cannot afford commercial housing loans e.g. civil servants, traders, artisans, commercial drivers etc. Any intending beneficiary must be a registered contributor and up to date with his/her contributions.

YOU MAY ALSO LIKE: House Mortgage Loan:How Individual can get stanbic IBTC Bank loan and requirements

Please note: 2.5% of monthly basic salary contribution qualify you to access the loan. The pool of funds created by the contributors nationwide becomes available to any contributor to borrow from, after contributing for a minimum of six months.

Terms and conditions to obtain NHF scheme loan

1. Any Nigerian above the age of 18
2. Applicant must be a contributor to the National Housing Fund for a minimum period of six months.
3. Applicant must have satisfactory evidence of regular flow of income to guarantee loan repayment.

YOU CAN ALSO READ:How to apply for AB microfinance bank Various Loan application

How To Apply For Nhf Loan

1. Gather Required Documents: Begin by collecting all the necessary documents to support your application, such as valid identification, proof of income, employment records, and bank statements. Ensure these documents are up-to-date and complete.

2. Research Eligibility Criteria: Understand the eligibility requirements set by the Federal Mortgage Housing Funds Scheme (NHF). Confirm if you meet the criteria, including being a Nigerian citizen, having a regular source of income, and not owning any property previously financed by NHF.

3. Complete Application Form: Obtain an NHF loan application form either from designated mortgage banks or online portals. Fill it out accurately with your personal information, employment details, and other required data.

Applicant is to apply through a duly licensed and accredited mortgage loan originator (MLO) of his/her choice and not directly to Federal Mortgage Bank of Nigeria (FMBN).

The MLO of the applicant’s choice must be accredited by FMBN to access the NHF facility.
Application forms for NHF loans are obtainable from the MLO

What are the documents required when applying for the loan?

Documents required to process a loan include:

1.Registered NHF1 (employer) forms NHF2 (employee) Completed application form.
2.Photocopy of title documents
3.Current valuation report on the proposed house to buy or bills of quantities (BOQ) for the house to build.
4.Three years tax clearance certificate.
5.Evidence of NHF participation
6.Copy of pay slips for the previous three months.
7.Equity contribution or personal stake of 30%, 20% or 10% depending on the loan amount applied for.

YOU CAN ALSO READ:How to apply for LAPO Microfinance Bank loans,Types and application requirements

What is the mode of repayment?

NHF housing loan are repaid on monthly installments from the income of the beneficiary. This mode of repayment has the advantage of being both affordable and convenient.

Collateral for security

The property for which the loan is sought shall serve as Collateral for the loan.
The property shall conform with the existing planning laws and regulations (approved building plan).
The property shall possess sufficient value to recover the loan.
A mortgage property shall be insured against hazards
The loan shall be secured by first legal mortgage of the property between the applicant and the
mortgage loan originator and assigned to FMBN.

You can also read: How to Check National House Fund NHF Monthly Contributions and Retrieve number

How much can you apply.

A borrower is entitled to a maximum loan of fifteen million naira (N15, 000,000.00) or as determined by the Bank.

No individual should be given a loan in excess of 90% of the cost or value of the property to be mortgaged.

Equity contribution based on the new loan amounts is as follows:
– N15,000,000.00 – 30%
– N10,000,000.00 – 20%
– N5,000,000.00 – 10%

YOU MAY ALSO LIKE:How to Apply for Various Accion Microfinance Bank Loan In Nigeria

Loan repayment tenor.

The maximum repayment period shall be 30 years.
Individual borrower shall make repayment through the mortgage loan originator through which they obtained the loan.

Interest Rate

Interest rate shall be as prescribed by the National Housing Fund Act which is not more than 6% p.a.

For further information call to 09- 2920689, 09- 2920690, or send an email to:

Visit any of the Mortgage bank today to apply for your NHF Mortgage Loan

Below are list of Mortgage bank in Nigeria

  • Abbey Building Society
  • Ag Homes Savings & Loans
  • Akwa Savings & Loans
  • Aso Saving & Loans
  • Brent Mortgage Bank
  • Centage Savings & Loans
  • City Code Savings & Loans
  • Coop Saving & Loans
  • Delta Building Society
  • Fbn Mortgages
  • Fha Homes Savings & Loans
  • First Generation Homes (Savings & Loans)
  • Gateway Savings & Loans
  • Global Trust Savings & Loans
  • Haggai Savings And Loans
  • Homebase Mortgage
  • Imperial Homes Mortgage Bank
  • Infinity Trust Mortgage Bank
  • Jigawa Savings & Loans
  • Jubilee-Life Savings & Loans
  • Kebbi State Home Savings & Loans
  • Lagos Building & Investment Company
  • Mayfresh Savings & Loans
  • Mgsl Mortgage Bank
  • Mutual Alliance Saving & Loans
  • New Prudential Building Society
  • Nigeria Police Mortgage Bank
  • Omoluabi Savings & Loans
  • Platinum Savings & Loans
  • Refuge Home Savings & Loans
  • Resort Savings & Loans
  • Safe Trust Savings & Loans
  • Stb Building Society
  • Trustbond Mortgage Bank
  • United Mortgage
Meet Ogbeide Frank, popularly known as perere, a blogger who loves writing about finance and Tech. He studied Business administration at the Ambrose Alli University Ekpoma and Mobile Communication at Orange College Malaysia .Frank have worked as a banker and consultant in variety of Nigeria agencies

For Advertisement, Content marketing andsponsored post: contact :
, , , ,

About admin

Ogbeide Frank loves writing and research about finance and Tech. He studied Business administration at the Ambrose Alli University Ekpoma and Mobile Communication at Orange College Malaysia .Frank have worked as a banker and consultant in variety of Nigeria agencies For Advertisement, Content marketing and sponsored post: contact :
View all posts by admin →

Leave a Reply

Your email address will not be published. Required fields are marked *