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The National Housing Fund

The National Housing Fund (NHF) is a scheme established by the Federal Mortgage Bank of Nigeria (FMBN). The primary objective of this fund is for the provision of affordable residential homes for Nigerians.

Under this scheme public sector works and other employees in the organised private sector, contribute 2.5% of their basic monthly salary to the FMBN. The FMBN then administers this pot of money, using it to help finance homes for Nigerians who have contributed to the scheme.

The FMBN can contribute up to 90% of the cost of a potential house. These mortgage loans are offered at more favorable fixed interest rates (6%) and often for longer tenures of up to 30 years. A maximum of 15 million Naira can be borrowed.

In order to be eligible for the loan:
Registered NHF1 (employer) forms NHF2 (employee) forms
A minimum of 6 months of prior contributions
Apply through accredited primary mortgage banks in Nigeria
Provide sufficient evidence of monthly income