yuzedo: Over fifteen comments thus far and not a single useful one..

You can tell these guys don't pay tax. If they did, this topic would be serious to them.

Hopefully someone makes an enlightening contribution soon; the opportunity cost of my deductions is a night with a moderately-priced ashawo.

rofemiguwa: Its a big fraud as far as I know. I am yet to see anybody I knw acess it.and the money is not hundred naira as someone said .mine is 7k deducted every month over money I will neva get acess to.the annoying part is dy don't make it optional ,dy don't seek ur consent,dy don't give u any letters to that effect.yet if u wan collect am.na war with no hope of wining.its heartbreaking to work so hard for one idiot to sit in abuja and sqander my money.

We really need a revolution in this country.the idiots are bleeping us blind.

yuzedo: Over fifteen comments thus far and not a single useful one..

You can tell these guys don't pay tax. If they did, this topic would be serious to them.

Hopefully someone makes an enlightening contribution soon; the opportunity cost of my deductions is a night with a moderately-priced ashawo.

Brand_new: Did a little search and found this valuable info.
Link to NHS act.

National housing fund contributions can as well be accessed through participating finance houses like Union homes.

Hope this helps.

amokemi: From my own investigations, this is how it works.
1. All employees are statutorily obliged to contribute to the scheme.
2. Your employer deducts your contributions at source and remits to federal mortgage bank.(FMB)
3. You will be issued a passbook where records of your contributions will be updated on a monthly basis.
4. After contributing for six months, you can access the fund.
5. You approach a recognized primary mortgage institution(PMI)n open an account and apply through the PMI to FMB for the loan.
6. Before applying, you must have identified a property you want to buy, have your equity contribution in place with the PMI. The equity is btw 10 and 30% depending on the amount you want to apply for. The maximum you can get is #15m.
7. The interest rate on the loan is 6%.
8. It is a long and cumbersome process, but if you are patient, you will get the loan. I will advise anybody who wants to apply for it not to do it alone. You can get your colleagues who share the same vision to apply together so you can be encouraging each other.
9. Finally and most importaant, make sure you apply through a very reliable PMI because this will determine if and when you will get it.

I hope we find this very useful. God bless us all.

amokemi: From my own investigations, this is how it works.
1. All employees are statutorily obliged to contribute to the scheme.
2. Your employer deducts your contributions at source and remits to federal mortgage bank.(FMB)
3. You will be issued a passbook where records of your contributions will be updated on a monthly basis.
4. After contributing for six months, you can access the fund.
5. You approach a recognized primary mortgage institution(PMI)n open an account and apply through the PMI to FMB for the loan.
6. Before applying, you must have identified a property you want to buy, have your equity contribution in place with the PMI. The equity is btw 10 and 30% depending on the amount you want to apply for. The maximum you can get is #15m.
7. The interest rate on the loan is 6%.
8. It is a long and cumbersome process, but if you are patient, you will get the loan. I will advise anybody who wants to apply for it not to do it alone. You can get your colleagues who share the same vision to apply together so you can be encouraging each other.
9. Finally and most importaant, make sure you apply through a very reliable PMI because this will determine if and when you will get it.

I hope we find this very useful. God bless us all.

kambili999: id ask someone abt dat... Brb

amokemi: From my own investigations, this is how it works.
1. All employees are statutorily obliged to contribute to the scheme.
2. Your employer deducts your contributions at source and remits to federal mortgage bank.(FMB)
3. You will be issued a passbook where records of your contributions will be updated on a monthly basis.
4. After contributing for six months, you can access the fund.
5. You approach a recognized primary mortgage institution(PMI)n open an account and apply through the PMI to FMB for the loan.
6. Before applying, you must have identified a property you want to buy, have your equity contribution in place with the PMI. The equity is btw 10 and 30% depending on the amount you want to apply for. The maximum you can get is #15m.
7. The interest rate on the loan is 6%.
8. It is a long and cumbersome process, but if you are patient, you will get the loan. I will advise anybody who wants to apply for it not to do it alone. You can get your colleagues who share the same vision to apply together so you can be encouraging each other.
9. Finally and most importaant, make sure you apply through a very reliable PMI because this will determine if and when you will get it.

I hope we find this very useful. God bless us all.

babestell: Nice topic. Am guessing those who contributed work with the civil service. What of those of us who don't contribute, can we still access the loan and how much is the interest?

amokemi: From my own investigations, this is how it works.
1. All employees are statutorily obliged to contribute to the scheme.
2. Your employer deducts your contributions at source and remits to federal mortgage bank.(FMB)
3. You will be issued a passbook where records of your contributions will be updated on a monthly basis.
4. After contributing for six months, you can access the fund.
5. You approach a recognized primary mortgage institution(PMI)n open an account and apply through the PMI to FMB for the loan.
6. Before applying, you must have identified a property you want to buy, have your equity contribution in place with the PMI. The equity is btw 10 and 30% depending on the amount you want to apply for. The maximum you can get is #15m.
7. The interest rate on the loan is 6%.
8. It is a long and cumbersome process, but if you are patient, you will get the loan. I will advise anybody who wants to apply for it not to do it alone. You can get your colleagues who share the same vision to apply together so you can be encouraging each other.
9. Finally and most importaant, make sure you apply through a very reliable PMI because this will determine if and when you will get it.

I hope we find this very useful. God bless us all.

Akdams: The first batch has just been approved by CBN/FMBN for my PMB. Disbursement will start any moment soon. So what are you still waiting for.

arocute:
The National housing fund scheme is not a fraud as must people think it is. I have been in the real Estate sector for more than 6 years now and I can tell you that lots of contributor have accessed this fund. Between January to now 11 of my clients have got this funds and I'm expecting the last disbursement by December for a friend.

I must Say, that before now it was either diffcult to access or takes for ever to get the fund, but this persent administration has been able to liberalize the housing sector and have made the sector at list more efficient than is was before.

If you are a contributor and you want to access the fund, I could be of assistance. please put this at the back of your mind that it might take up to 12-16months to get it.

arocute2003@yahoo.com.

amokemi:
From my own investigations, this is how it works.
1. All employees are statutorily obliged to contribute to the scheme.
2. Your employer deducts your contributions at source and remits to federal mortgage bank.(FMB)
3. You will be issued a passbook where records of your contributions will be updated on a monthly basis.
4. After contributing for six months, you can access the fund.
5. You approach a recognized primary mortgage institution(PMI)n open an account and apply through the PMI to FMB for the loan.
6. Before applying, you must have identified a property you want to buy, have your equity contribution in place with the PMI. The equity is btw 10 and 30% depending on the amount you want to apply for. The maximum you can get is #15m.
7. The interest rate on the loan is 6%.
8. It is a long and cumbersome process, but if you are patient, you will get the loan. I will advise anybody who wants to apply for it not to do it alone. You can get your colleagues who share the same vision to apply together so you can be encouraging each other.
9. Finally and most importaant, make sure you apply through a very reliable PMI because this will determine if and when you will get it.

I hope we find this very useful. God bless us all.