WHAT IS NHTF?
This refers to the National Housing Trust Fund (NHTF) Loans. It is a trust fund that allows Nigerians who are over 21years, with stable source of income and who are contributors to the fund, access to a mortgage loan of up to N5million. The application for this loan must be routed through a primary mortgage institution but administered by the Federal mortgage bank of Nigeria.
CAN SPOUSES ACCESS THE LOAN?
Yes, if they are contributors to the fund as well.
IS THE NHTF LOAN ONLY FOR RESIDENTIAL PURPOSE?
Yes. It can only be used to buy, build, or renovate a residential property.
WHAT OTHER PRODUCTS DO YOU HAVE?
We have a bouquet of products which include Current and Savings account, Mortgage accounts, Loans and Specialized services such as Property management and Estate agency.
CAN NON-NIGERIANS ACCESS THE NHTF LOAN?
No.
CAN NON-RESIDENT NIGERIANS APPLY FOR THE NHTF LOAN?
Yes.
CAN I APPLY FOR ANY OTHER LOAN FROM YOUR BANK?
Yes.
WHAT IS THE MAXIMUM LOAN AMOUNT ACCESSIBLE UNDER THE NHTF SCHEME?
The maximum loan amount is N5 million.
HOW LONG DO I HAVE TO REPAY THE NHTF LOAN?
The loan has a maximum tenor of 30 years at a fixed interest rate of 6%.
DO I NEED TO MAKE ANY CONTRIBUTION?
Yes. You will need to make a contribution of 10 percent of the amount you wish to borrow.
WHAT DOCUMENTS DO I NEED TO MAKE AVAILABLE TO SECURE THE NHTF LOAN?
- A copy of your current tax clearance certificate
- A copy of the title document to the property you intend to buy, build, or renovate with the loan
- Valuation and search report on the property you intend to buy, build, or renovate
- An evidence of your emolument monthly income for the last 3 months
- Your National Housing Trust Fund (NHTF) participation number issued by the Federal Mortgage Bank of Nigeria (FMBN)
- Offer and acceptance Letters from the property vendor and buyer respectively, if you intend to use the loan to buy a property, and
- An approved building plan and costed bill of quantities (BOQ) if you intend to use the loan to develop a property
