How to access or qualify for an NHF (National Housing Fund) Loan

National Housing Fund (NHF) is a Federal Government scheme that provides long-term funds from Nigerian workers, banks, insurance companies and the Federal Government to advance loans at soft interest rates to its contributors.

The scheme was established by Act 3 of 1992 to enable Nigerians in all sectors of the economy, particularly those within the low and medium-income levels who cannot afford commercial housing loans to own houses by contributing 2.5% of their monthly salary to the Federal Mortgage Bank of Nigeria, managers of the fund.

Eligibility For NHF

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 also have satisfactory evidence of a regular flow of income to guarantee loan repayment.

Plan before you apply

What budget should you be using when looking for a house to buy or build? To know this, You should know how much you can afford to borrow so you can look for a house or building project that fits your budget, one that you can afford with the loan. BEFORE you apply, you should check how much you can borrow and then use that information to make a plan. There is little point in looking at a N50m house if you will only be able to get N5m a popular misconception is that everyone can access the maximum loan, this is not correct as it is based on your current situation age, income etc, so first to be able to plan, find out how much you can borrow or Book a session to speak to one of our Consultants.

How to Apply For National Housing Fund (NHF)

Except for institutional borrowers who can apply for the loan directly from the Federal Mortgage Bank of Nigeria (FMBN), individuals can only apply through a duly licensed and accredited Primary Mortgage Bank (PMB) of their choice and not directly to the FMBN. Loan applications are also to be obtained from the same PMB.

Requirements for accessing an NHF Loan

• Open a savings account with a registered PMB

• Contribution to the fund for at least six months prior to application.

• Have satisfactory evidence of regular income to guarantee the loan.

• Submit photocopies of valid title documents (e.g. C of O).

• Approved survey/site plans

• Approved building plans

• Priced Bill of Quantities where applicable

• Valuation report prepared by a firm of registered surveyors and valuers where applicable

• Three years tax clearance certificate

• Letter of consent to mortgage to your chosen PMB

• Completed prescribed mortgage loan application form

• Evidence of NHF participation

• Copy of payslips for the previous three months

• Equity contribution of a personal stake depending on the loan amount applied for loans of N15 million, N10 million and N5 million respectively

• Offer letter/Acceptance and Allocation letter (in case of government projects)

• In the case of a registered self-employed applicant, a copy of the Articles and Memorandum of Association and a copy of the Certificate of Incorporation as evidence of employment status must be submitted.

How Much can I apply For?

An individual borrower is entitled to a maximum of N15 million. But No individual shall be granted a loan in excess of 90% of the cost or value of the property to be mortgaged. Complete this form to find how much exactly you can get based on your age income etc.

Security for the Loan

The property (residential accommodation) for which the loan is sought shall serve as security for the loan. The property must have valid title documents (C of O, Deed of Sublease, Deed of Assignment or Letter of Allocation). The property shall conform to the existing planning laws and regulations and building plans approved by the appropriate authorities. The mortgaged property must possess sufficient value to recover the loan, and must be insured against hazards.

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NHF Mortgage Process

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