Do you know that with as low as N500 monthly contribution, every Nigerian citizen who registers as a contributor can access a maximum housing loan of N15,000,000.00 from the National Housing Fund?
All Nigerians in employment, whether self-employed or paid employment are required by the NHF Act No. 3 of 1992, to contribute 2.5% of their basic monthly salary/income. So, if for example, your basic monthly income is N20,000, it means that your monthly contribution will be N500.
To be eligible to apply for the loan, the law requires you to have contributed for a minimum of 6 months.
Each contributor is eligible to access a maximum of N15,000,000 repayable at over a maximum period of 30 years at an affordable fixed interest rate of 6% throughout the tenure of the loan.
The only collateral for the loan is the property in question. No other collateral is required to secure the NHF loan.
The beauty of the scheme is that refund is made to all contributors including those that have fully repaid their housing loan obtained from the fund.
For assistance on how to become a contributor and obtain a loan from the National Housing Fund, you can register as an Off-taker under the REAL ESTATE VALUE AGGREGATION AND MAXIMIZATION PROGRAMME – REVAAMP – click here to register.