How To Apply For FMBN Housing Property Loan (Rent To Own)

Please check your E-mail inbox or spam to confirm.

Did you know? As an eligible contributor to the National Housing Fund (NHF) Scheme, you could apply to own a Federal Mortgage Bank of Nigeria FMBN financed housing property loan, move in as a tenant, and conveniently pay to own it over time using the FMBN Rent-to-Own housing product.

JOIN US FOR MORE ON:
or

What is FMBN Rent To Own?

The FMBN Rent-to-Own scheme is an innovative affordable housing product, which provides an easy and convenient payment plan towards home ownership for Nigerian workers. The scheme is specifically designed to make it possible for Nigerian workers to move into FMBN homes as tenants, pay for and own the properties through monthly or yearly rent payments spread over periods of up to 30years.

According to FMBN, payments could be made in monthly or annual instalments over periods as long as 30 years – depending on age and number of years in service – at an interest rate of 7 per cent.

SEE ALSO: How to Get Instant Cash (Loan) with Polaris Bank Salary Advance

Who can apply?

  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 (6) months.
  3. Applicant must have satisfactory evidence of the regular flow of income to guarantee loan repayment.

Product Features:

  1. The maximum purchase price of the property shall not be more than N15,000,000.00 (Fifteen Million Naira), affordability of which shall be determined by the income limit of the beneficiary and the projected tenancy duration.
  2. The rent repayment period shall not exceed thirty (30) years.
  3. The interest rate shall be 7% of the price of the BIG BROTHER property on an annuity basis.
  4. Monthly or annual payment shall not exceed 1/3 of the applicant’s monthly/annual income.
  5. The facility shall not be available to any contributor who has enjoyed an NHF loan to buy or build a house.
  6. Properties would be insured against Fire & Special Perils and Credit Life Assurance as covered in interest rate.
SEE ALSO: How to Get Quick Loans with First Bank Salary Advance

How to apply:

  • An interested subscriber will visit any of the Federal Mortgage Bank of Nigeria Branch Offices nationwide to check out the available houses and prices.
  • The applicant will then fill out the form. attaching all necessary documents as stipulated and return same to the Branch Office.

For further information, kindly visit the FMBN website by clicking here

HEY THERE: Are you looking for a WhatsApp TV where you can find great memes, funny videos, and trending gists, even with several opportunities with cash prizes? Then look no further. LOP TV is here to bring to you this top-rated content. JOIN LOP TV now

Originally published by Npower Discussion Group

MASSIVE OFFER: Get your business seen by 8,000 people for just N1,000. How? See here!

Free Meta Business Management Course


DISCLAIMER: Do not pay or release sensitive financial details to any organizer/recruiter unless futher verified from your end.
Easter Hunt Sale
Easter Sale
Sam Rantimi

About the Author: Sam Oluwarantimi

Interpersonal Communication Specialist & Graduate (Biology), Obafemi Awolowo University. Join me on Twitter.

Got a question/Suggestion? Let's talk!

LATEST OPPORTUNITIES:

๐Ÿ•› Mar 15, 2023
International Centre for Tax and Development (ICTD) 2023-2024 Scholarships for African & Asian Students
in Masters Programs | for Post Graduates

๐Ÿ•› Mar 15, 2023
Study in USA: Hult University 2023-2024 Global Generation Scholarship Program
in Scholarships | for Undergraduates

๐Ÿ•› Mar 15, 2023
University of Geneva Excellence Masters Fellowships for International Students 2023
in Fellowships | for Postgraduates

๐Ÿ•› Mar 20, 2023
KOICA 2023 Scholarship Program for Developing Countries (Fully-funded)
in Masters Programs | for Post Graduates

๐Ÿ•› Mar 21, 2023
Austrian Development Cooperation 2023/2024 Scholarships for ADCโ€™s and Developing Countries
in Masters Programs | for Post Graduates

๐Ÿ•› Mar 28, 2023
Biomimicry Institute Youth Design Challenge Worldwide
in General Competitions | for Youths

๐Ÿ•› Mar 28, 2023
IBRO World Congress Travel Grants for Researchers 2023
in Grants & Fundings | for Researchers

๐Ÿ•› Mar 31, 2023
Deborah Rogers foundation Writers Award 2023
in Awards & Prizes | for Writers & Poets

๐Ÿ•› Mar 31, 2023
ICGEB Arturo Falaschi PhD Fellowships 2023
in Fellowships | for Post Graduates

๐Ÿ•› Mar 31, 2023
Leventis Fellowship at SOAS, University of London For Nigerian Academics 2022
in Fellowships | for Nigerians

3 4 5 6 7 8 9 10 11 12