Concerning the NHF its a pity government have made it extremely difficult to access.if it was easylily possible to deduct this money from source why cant government collate names of interested public servants do the details through homes and property developers and continue to deduct these money from source ,unfortunately i am only going to be impressed when my 5million naira home is delivered to me or the equivalent to finish an unfinished house.

Why should i pay all those fees before they disbursement.?

What if after all the payment and they did not approve the loan?

Why can.t the process the loan then at the time of disbursement they take all their fees and charges?

Y I asked? I have hard people after paying all the fees for years they fail to approve the loan and they end up loosing the little money they have.

Is it working in Nigeria?

@coollove,
Nigerian Govt is scamming its own citizens, it all but a shameful scheme called NHF.
I think it should be scrapped.

@ lawyer,
I think we need your views and opinion on this.I know you have very valuable information. I personally needed information on how to access the NHF LOAN. Base on my experince it took me about 2 and half years to build 4 units of 2bedroom apartments, i want to start another 4 units again, but want to cut short the lenght of time involve .

I KNOW A MICROFINANCE THAT PAYS N140,000 EVERY MONTH ON N2,000,000 NAIRA AS FIX DEPOIT, FOR ME TO RELEASE THE INFORMATION I WILL COLLECT 50,000 NAIRA FROM YOU IF YOU ARE INTERESTED.CALL KOLA 08037717482.THIS IS A MONEY BACK GUARRANTEE.WITH THE MONTHLY ACRUE YOU CAN INVEST IN LAND AT 180,000 IN PLACES LIKE MOWE IBAFO. SIDE OF OGUN STATE.

The NHF fund is actually not so difficult to access,the whole process has been redesigned except people aere deliberately trying to make it so. The easiest way though is to lock into an NHF sponsored project if interested and once payment of the minimum 10% is made, alllocation of the 90% balance is done through the Primary Mortgage Institution you're going through.

@Dumsky , Please can you be more explicit on the issue of Primary mortgage institution

Hi Friend,

Let me give a brief information about the NHF.

All Nigerians can apply for the NHF.

The Mission of the NHF: It was established by Decree No 3 of 1992 to facilitate the continuous flow of low cost funds for long term investment in housing for the benefit of all Nigerians.

Management of the NHF:

It is managed and distributed by the Federal Mortgage Bank of Nigeria.

The head office of the FMBN is at the Central Business District, Abuja.

The fund or money is given to the licensed Primary Mortgage Institution [PMI] or Mortgage Bank.

The FMBN DO NOT deal with individuals, in regards to release of funds. You have to go through a Mortgage Bank.

However, since the FMBN is controlled by Federal officials, the processing of the NHF takes a long time and involves a lot of bureaucracy.

But, I work with Mortgage Banks who get the NHF out quickly.

But, I will save you time, stress and money by processing your NHF form.

"This is Nigeria" so, The staff of the Mortgage Bank can take a long time to deal with individuals as well. My company is managed professionally and I know how to get what I want from them.

WHO CAN CONTRIBUTE TO THE NHF:

In order to access or get money from the NHF, you need to contribute.

Do you understand, "Ajo"? Means "contributions".

The NHF is similar to Ajo. A group of individuals contribute daily, weekly or monthly. One of them will collect the money on the first month. Another person will collect the money on the second month. Until the last person collects on the last month. Even though, you collected on the first month, you have to keep contributing until the last person collects. If you don't, there will be arguments from the team.

In the case of the NHF, if you don't pay, YOUR WILL BE REPOSSESSED BY THE MORTGAGE BANK.

I will explain how to contribute.

WHO CAN CONTRIBUTE to the NHF:

A) Any Nigerian living in Nigeria.

B) Earning an income of N3000 per month.

C) If employed - should contribute 2.5% of your monthly basic salary.

D) If Self employed, which means, you own your own business. You should contribute a monthly figure as well.

E) You have to contribute for 6 months before you can apply.

But, if you want to apply now, we can help you . How, will ONLY be disclosed to serious clients.

@Cool,

There is no guarantee on when the funds will be released after submitting your application. We are dealing with Federal officials and they do what they like. But, things are getting better.

Yes. I am working with PMIs who have quick access to the NHF.

I did not say that, the FMBN develop estates.

I said, I have 2 developments by a PMI and the NHF has been agreed.

Yes, anyone subscribing to these properties get the NHF allocation.

Regards

@Whatalife,

That is why you need a Qualified Independent Mortgage Broker like me.

From your posts, I will recommend that, you should go to the FMBN and ask for a refund of your retired dad's contributed. He is entitled to them back. If your dad does not want to access the loan.

Since you said, he has retired.

There is a maximum age for applying for the NHF.

A PMI is a primary mortgage institution who was given a license to offer mortgages to Nigerians.

Without a license, there are not PMIs.

We should not confuse estate developers as PMIs.

I will talk about this later.

@Lawyer,

Yes, the NHF is a good topic.

It is a legal scheme by the Federal government and it is not a case of d omo-onile. Lol!

@Timpaker,

As an Independent Mortgage Broker, I can confirm that, there are better Savings and loans company than Aso.

Also, Aso covers Abuja only.

If a client wants to own their home in Lagos, Aso will not be able to help them.

Regards

@Skyspirit,

Thanks for informing the house of the increase of the NHF to N15million.

I heard that, it was going to be increased and you know Nigeria. I don't work with hearsay but facts.

@All,

It is confirmed.

Maximum is N15million.

Regards

@Emma Ajayi,

I don't understand your comment. "Obtaining loan is prohibitive".

Pls explain in simple and plain english.

Regards

@Libra38,

Yes. A construction worker can access the NHF.

All Nigerians can.

Regards

@Marissa,

Fantastic writeup.

Regards

@Ode remo,

I have to advise that, in future, before you sign anything, read the terms and conditions or clauses of the agreement.

The developers should be able tie you into the off plan price. This means that, any price increase should not affect you.

But, on the other hand, developers say that, if they are offered 100% of the value of a property, they take it. They give a letter of allocation to the person who gave them 100%.

Someone like you, who gave them 10% they will remove your name and offer you a different development.

I hope you understand.

Developers like outright purchasers compared to mortgage purchasers.

Email me for more clarifications. I feel that, if you tell me the whole story that, I can advise you.

Regards

@Sley4life,

NHF is legal and real.

Regards

@Fire4fire,

Which PMI are you using?

You can email me if you don't want to discuss here.

Adornhomes@gmail.com

Regards

@Zidane2006,

You are right about the government. But, it is getting better.

Regards

@Coollove,

I understand your fears about paying the fees and not accessing the NHF. But, this is why you need a Qualified Mortgage Broker like Adorn Homes.

Regards

@Dumsky,

Fantastic writeup.

Regards

It has been confirmed that, the FMBN has increased the maximum to N15Million.

This info has been released to the public but, it will take some time for the federal govt to make it operational.

Also note that, you will need to contribute 30% of N15 Million in your NHF account before they will deal with you.

Regards

AdornHomes:

It has been confirmed that, the FMBN has increased the maximum to N15Million.

This info has been released to the public but, it will take some time for the federal govt to make it operational.

Also note that, you will need to contribute 30% of N15 Million in your NHF account before they will deal with you.

Regards

Thanks for the information , pls kindly send me more details on how i could access the NHF Loan to my mail box -( sonety2k@yahoo.com ) and i will get back to you as soon as i receive your mail and do you cover Oyo state area in cause i need a housing loan also

Regard
Olusola sonet

@Mr Olusola,

Yes. We have properties and shops in Ibadan.

I hv emailed u.

Rgds

Hi Friend,

Please supply the following info, when u email us.

1. How much can you afford per month for your NHF mortgage?
2. Are you contributing? How long?
3. R u employed or self employed?
4. How old are you?
5. Do u want to build a property, buy or renovate?
6. Which area and state r u interested in?
7. What is your basic salary?
8. Who is your Primary mortgage institution?
9. Who is your employer?

Rgds

Adornhomes@yahoo.com

You can chat with me on Yahoo messenger. Adornhomes.