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.

The 2.5% of the monthly basic salary contribution qualifies 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.

A contributor interested in obtaining an NHF loan applies through a registered and duly accredited mortgage loan originator (e.g. Primary Mortgage Banks), who packages and forwards the application to FMBN.

No. the loan amount is determined by the applicant's affordability. This entails his/her income level that will enable repayment of the loan.

1. 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 depending on the loan amount applied for.

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

Yes. A prospective applicant can liaise with a mortgage loan originator (e.g. PMB etc.) in Nigeria to process a loan application.

The property can be located anywhere in Nigeria. The applicant must however provide acceptable title documents to the land.

The only collateral is the property to secure the loan for. No other collateral is needed for the loan.

A contributor can only obtain an NHF loan facility once in a lifetime.

A contributor is eligible to access a maximum loan amount of =N=15 million repayable over a maximum period of 30 years at an affordable interest rate of 6%.

No. A prospective applicant who wishes to obtain a loan to build a house is expected to have his/her land as well as an acceptable title to the land prior to the application for an NHF loan.

Yes. You can apply as an individual for an NHF loan to develop a land or buy directly from government consort estate or private estate developers.

The bank can finance the building of staff quarters and student hostels in Higher Institutions of Learning if they are under a registered Co-operative body which makes them eligible to access the Cooperative housing development loan (CHDL) and subsequently purchases the funded houses through NHF. Students’ hostels are currently not financed by the bank since they are transit accommodation. However, the bank is making the necessary arrangements in regard to funding of students hostels in the near future

Yes, self-employed NHF contributors can access construction loan to develop their personal residential properties.

Yes, R-of-O can be used as a title document on the condition that the owner will submit evidence of processing the Certificate of Occupancy (C-of-O) and the undertaking that the C-of-O will be deposited in the Bank when it is obtained.

Yes, a Co-operative Society can use its own in-house professionals to access CHDL as long as they are qualified professionals and possess the necessary certifications and experience.

No, the Bank does not accept letter of Grant in accessing construction and NHF loans.

It is not within the mandate of FMBN to construct houses directly for NHF contributors.

Customers cannot edit their profile on these platforms however they can do this through the Update Form available on the FMBN website, or by visiting the nearest branch office for the update.

• - Dial *219# USSD code and Send
• - Type 3 and Send
• - Your NHF number will be displayed.

• - Visit the FMBN website and complete the Update Form, or by visiting the nearest FMBN Branch office to update your phone number.
• - If the above has been done, speak to a staff in the Branch office to check if the contribution schedule that has your name has been uploaded

Yes, Staff in our Branch offices have access to an application to produce statement of account for Federal Workers

This can be affected by 3 factors

1. PMB delay: most of the time the applications are delayed by PMBs due to their internal processes.
2. Quarterly approval of Loans by the board also contributes to the delay
3. Lack of availability of interim security to drawdown on the loan

This is labor law in Nigeria that no organization can deduct more than ⅓ of an applicant’s monthly income on any loan. Labour Act, 1974 stated that “any other provision of this Act, the total amount of deductions that may be made from wages of a worker in any one month shall not exceed one-third of the wages of the worker in that month".

FMBN is working with the PMBs to harmonize all charges and to also educate applicants on all official charges.

Yes, because Deed of Assignment is a document that transfers ownership when it is duly registered.

No, pension contribution cannot be used as an equity contribution or personal stake.

Yes, the person must be a consistent NHF contributor for at least 6 months.

The NHF Act states that NHF contributions can only be refunded to a contributor that has attained 60 Years of Age or has put in 35 years in service.

NHF Refunds for Federal workers and other contributors are not decentralized as their contributions are centrally collected through IPPIS.

The Rent-To-own Product is structured for the formal sector such that Rental payments will be deducted at source by the employer, as such, self-employed are not eligible to apply for Rent-To-own.

A contributor can apply for an NHF loan after benefitting from HRL however, such contributor must have liquidated the Home Renovation Loan granted to him or her.

Yes, HRL is a revolving loan. A contributor can apply for an NHF loan upon liquidation of his or her existing Home Renovation Loan.

However, at the point the contributor owns a house through either of the Bank's windows (NHF or RTO), he can not apply for an HRL loan any longer.

The Home Renovation Loan is structured for the formal sector such that the loan repayment will be deducted at source by the employer, as such; an Informal Sector Cooperative member and self-employed individuals are not eligible to apply for Home Renovation Loan.