The Federal Mortgage Bank has CONFIRMED that Nigerians above 18 years with a STEADY paycheck will now be able to access up to N5 million housing loan from the Bank WITHOUT equity contribution.


The Federal Mortgage Bank of Nigeria (FMBN), has commenced the implementation of the new approved conditions for accessing loans from the National Housing Fund (NHF).
This includes zero equity contribution for the provision of housing loans of up to N5million and 10 per cent contribution for housing loans ranging from N5million to N15million by contributors to the NHF.

The revised requirements were recently approved by the board of FMBN. They represent a 100 per cent reduction in the equity that contributors to the housing fund were hitherto expected to bring before they could access the loans such as five per cent and 20 per cent for the two housing loan bands of up to N5million and N15million, respectively.

FMBN, which manages the scheme, was established by Act 3 of 1992, to enable Nigerians in all sectors of the economy, particularly those within the low and medium income levels, who cannot afford commercial housing loans, such as civil servants, traders, artisans, and commercial drivers and a host of others to own houses.

FMBN provides mortgage loans from the pool of funds available to the NHF at four per cent interest to accredited Primary Mortgage Banks for on-lending at six per cent to NHF contributors over a maximum tenor of 30 years, which is secured by the mortgaged property.

A contributor can access up to N15million from the fund through an accredited PMI as a mortgage loan to build, buy, improve or renovate own home after six months of continuous contributions. These lending conditions make the NHF an unequalled vehicle for affordable housing delivery in Nigeria.

Speaking on the development, FMBN Managing Director/Chief Executive Officer, Ahmed Dangiwa, said the downward revisions represent a key milestone in the new executive management’s drive to ensure that more Nigerian workers can afford decent and quality housing.

“I am delighted that we have been able to achieve this groundbreaking feat. It is a huge win for the Nigerian workers and particularly those that contribute to the National Housing Fund (NHF). It will go a long way towards reducing the financial burden of homeownership that contributors to the fund have been carrying for the past three decades. When we came on board, we realised that the existing equity contribution put too much pressure on workers. I am glad that today, we have been able to crash it by over 100 per cent,” he said.

Dangiwa, an architect, advised existing contributors to take advantage of the new friendly conditions to secure loans to purchase or build their homes. He also advised those who are not currently registered with the NHF to do so through FMBN offices located in states nationwide so they too can take advantage.He lauded the Minister of Power, Works and Housing, Babatunde Fashola, for his support towards the attainment of the feat, the FMBN Board and executive management for their efforts in forming the bank for greater impact.

https://guardian.ng/business-services/fmbn-begins-zero-equity-for-housing-loan-subscribers/amp/

18yr old with steady paycheck?

These people sef

Why not target the NYSC and use that to set them up to become employers of Labour, rather than the Greek gift you know that nobody can access?!

How many civil servants that contribute can access mortgage under the current dispensation (and we are talking of civil servants with steady income)?

Sai baba 10 billion times and glory to God in the highest for giving you to Nigeria in such a time as this.

You are blessed among men and you will live long to keep giving Nigerians the right kind of living we desire.

For those reading, if you need more information go and see your personal banker or walk into the nearest FMBN branch closest to you.

Tap into this NOW!!!!!

Omeokachie:
18yr old with steady paycheck?

These people sef

FROM 18 years.

You can be a business owner as long as you have a verifiable steady source of income.

bedspread:
Let's see it work!!
We are tired of talking...







Back2Daura is on speed.... No stopping...

Will you shut up! Must you be robotic? You can go back to your village while the rest of Nigerians go forward

A contributor can access up to N15million from the fund through an accredited PMI as a mortgage loan to build, buy, improve or renovate own home after six months of continuous contributions.

It can never be sustained, this is Voodoo economics.

Butterflyleo:
Sai baba 10 billion times and glory to God in the highest for giving you to Nigeria in such a time as this.
You are blessed among men and you will live long to keep giving Nigerians the right kind of living we desire.
For those reading, if you need more information go and see your personal banker or walk into the nearest FMBN branch closest to you.Tap into this NOW!!!!!

Seems you're one of the newest kid on the block.Your syntax of the English Language sef

Ok

easier said on paper/document but we live in REALITY WORLD u knw ..don't get too excited about dis cos we knw dis govt BACKTRACKS alot...

Omeokachie:
18yr old with steady paycheck?

These people sef

Why not target the NYSC and use that to set them up to become employers of Labour, rather than the Greek gift you know that nobody can access?!

How many civil servants that contribute can access mortgage under the current dispensation (and we are talking of civil servants with steady income)?

Why not go and try first rather than being an armchair critic.

The NYSC have their own package and this does not exclude them either.

Civil servants do have a steady income. Their focus should be for their governors to ensure their salaries are paid when due. That is not the FGs doing but those of the states.

FG isn't owing salaries, just states.

[s]

Butterflyleo:


Will you shut up! Must you be robotic? You can go back to your village while the rest of Nigerians go forward

[/s]

I won't shut up until Nigeria moves from mere words to action....
Gone are the days of Mere words ..

Let's see Nigerians being able to access the equity free loans...

Story story don do

Omeokachie:
18yr old with steady paycheck?

These people sef

Why not target the NYSC and use that to set them up to become employers of Labour, rather than the Greek gift you know that nobody can access?!

How many civil servants that contribute can access mortgage under the current dispensation (and we are talking of civil servants with steady income)?

Nigerians will criticize everything!

[s]

bedspread:
Let's see it work!!
We are tired of talking and Promises...


































Back2Daura is on top speed.... No stopping...

[/s]

Wailer

You will be disgraced over and over again

bedspread:
Let's see it work!!
We are tired of talking and Promises...

Back2Daura is on top speed.... No stopping...

You rather think on how to make use of the said opportunity than to rant here. Yet you will still come out to insult the govt that they have not done anything.

bedspread:
[s][/s]

I won't shut up until Nigeria moves from mere words to action....
Gone are the days of Mere words ..

Let's see Nigerians being able to access the equity free loans...

Story story don do

Its not entirely equity free. Your collateral is your verifiable proof of steady income.

That is how mortgage is accessed abroad in the USA or UK and not the old way we do it here where a certain percentage is demanded for as down payment.

This is laudable and workable for all.

[s]

blackpanda:
[s][/s]

Wailer

You will be disgraced over and over again

[/s] I Cannot be Disgraced

Butterflyleo:



Why not go and try first rather than being an armchair critic.

The NYSC have their own package and this does not exclude them either.

Civil servants do have a steady income. Their focus should be for their governors to ensure their salaries are paid when due. That is not the FGs doing but those of the states.

FG isn't owing salaries, just states.

How many FG workers under current compulsory contribution have access to mortgage, Mr. armchair propagandist?

midolian:
Nigerians will criticize everything!

Because, their mind has being blocked by hatred.

Omeokachie:


How many FG workers under current compulsory contribution have access to mortgage, Mr. armchair propagandist?

Young man there is no restriction placed on anyone regarding mortgage access.

Its as easy as getting up from your armchair of criticism and walking into any FMBN branch close to you and asking for conditions for acceptance and they will put you through.

You can sit there and keep running your mouth

midolian:
Nigerians will criticize everything!

'Some' Nigerians will believe anything as long as it is coming from their thin gods.

Gen.Abacha built about 28,000 houses for the poor, gwarinpa estate but the rich bought them all after his demise.

a serious govt will build enough low cost housing units for the masses to move in and start paying little by little for years

Butterflyleo:


Its not entirely equity free. Your collateral is your verifiable proof of steady income.

That is how mortgage is accessed abroad in the USA or UK and not the old way we do it here where a certain percentage is demanded for as down payment.

This is laudable and workable for all.

These are Countries where things work... Even where I am, Things work stresslessly..

Let's see it Work in Our Country.. Not Mere talkings... Many talks hv been made with no implementations.

bedspread:
[s][/s] I Cannot be Disgraced

we shall see...2019 isnt far

Sarrki and madridguy and buhariguy our ever amiable Presido has done it again

Butterflyleo:


Young man there is no restriction placed on anyone regarding mortgage access.

Its as easy as getting up from your armchair of criticism and walking into any FMBN branch close to you and asking for conditions for acceptance and they will put you through.

You can sit there and keep running your mouth

Little one, you jumped to FG workers as if they are getting it. I have asked you if you know of any FG worker that have accessed this mortgage talk less of trying to scam the people by saying youths can. Instead you are jumping from one tree branch to the other.

blackpanda:


we shall see...2019 isnt far

Today , Tomorrow, 2019.. I am not in your class who wins and who doesn't..
am Far above all dt...
Nigeria is in GOD'S Hands and it's time for Exploits.... no more Explanations

bedspread:
These are Countries where things work... Even where I am, Things work stresslessly..

Let's see it Work in Our Country.. Not Mere talkings... Many talks hv been made with no implementations.

So you are not an eligible voter yet you are busy trolling all over the internet disturbing our eyes with your back to daura nonsense.

Where you claim you are, this is how it began and it worked. We have gone digital with the banking system and mostly cashless and with the advent of BVN it then becomes easy to run mortgages of this nature. A simple programmed monthly deduction from your bank account over a period of years is all it takes.

That is why anyone subscribing needs to Have A STEADY source of income

Butterflyleo:
The Federal Mortgage Bank has CONFIRMED that Nigerians above 18 years with a STEADY paycheck will now be able to access up to N5 million housing loan from the Bank WITHOUT equity contribution.


The Federal Mortgage Bank of Nigeria (FMBN), has commenced the implementation of the new approved conditions for accessing loans from the National Housing Fund (NHF).
This includes zero equity contribution for the provision of housing loans of up to N5million and 10 per cent contribution for housing loans ranging from N5million to N15million by contributors to the NHF.

The revised requirements were recently approved by the board of FMBN. They represent a 100 per cent reduction in the equity that contributors to the housing fund were hitherto expected to bring before they could access the loans such as five per cent and 20 per cent for the two housing loan bands of up to N5million and N15million, respectively.

FMBN, which manages the scheme, was established by Act 3 of 1992, to enable Nigerians in all sectors of the economy, particularly those within the low and medium income levels, who cannot afford commercial housing loans, such as civil servants, traders, artisans, and commercial drivers and a host of others to own houses.

FMBN provides mortgage loans from the pool of funds available to the NHF at four per cent interest to accredited Primary Mortgage Banks for on-lending at six per cent to NHF contributors over a maximum tenor of 30 years, which is secured by the mortgaged property.

A contributor can access up to N15million from the fund through an accredited PMI as a mortgage loan to build, buy, improve or renovate own home after six months of continuous contributions. These lending conditions make the NHF an unequalled vehicle for affordable housing delivery in Nigeria.

Speaking on the development, FMBN Managing Director/Chief Executive Officer, Ahmed Dangiwa, said the downward revisions represent a key milestone in the new executive management’s drive to ensure that more Nigerian workers can afford decent and quality housing.

“I am delighted that we have been able to achieve this groundbreaking feat. It is a huge win for the Nigerian workers and particularly those that contribute to the National Housing Fund (NHF). It will go a long way towards reducing the financial burden of homeownership that contributors to the fund have been carrying for the past three decades. When we came on board, we realised that the existing equity contribution put too much pressure on workers. I am glad that today, we have been able to crash it by over 100 per cent,” he said.

Dangiwa, an architect, advised existing contributors to take advantage of the new friendly conditions to secure loans to purchase or build their homes. He also advised those who are not currently registered with the NHF to do so through FMBN offices located in states nationwide so they too can take advantage.He lauded the Minister of Power, Works and Housing, Babatunde Fashola, for his support towards the attainment of the feat, the FMBN Board and executive management for their efforts in forming the bank for greater impact.

https://guardian.ng/business-services/fmbn-begins-zero-equity-for-housing-loan-subscribers/amp/

Mynd44, OAM4J This is beyond amazing news for the Nigerian workers. The world needs to see this on front page.

It’s marvelous in our eyes

Omeokachie:



Little one, you jumped to FG workers as if they are getting it. I have asked you if you know of any FG worker that have accessed this mortgage talk less of trying to scam the people by saying youths can. Instead you are jumping from one tree branch to the other.

I am sure you saw BREAKING NEWS in the topic of the OP.

[s]

bedspread:
Today , Tomorrow, 2019.. I am not in your class who wins and who doesn't..
am Far above all dt...
Nigeria is in GOD'S Hands and it's time for Exploits.... no more Explanations

[/s]

Bla bla bla...busy psyche yourself for mass disgrace in 2019
You have been wailing uncontrollably since PMB got in. Dont come and be calling God now
There is nothing Godly about u wailers

Butterflyleo:


So you are not an eligible voter yet you are busy trolling all over the internet disturbing our eyes with your back to daura nonsense.

Where you claim you are, this is how it began and it worked. We have gone digital with the banking system and mostly cashless and with the advent of BVN it then becomes easy to run mortgages of this nature. A simple programmed monthly deduction from your bank account over a period of years is all it takes.

That is why anyone subscribing needs to Have A STEADY source of income

Sharaap!! I am in the Country at least 3 months of every year...
I am an Eligible Voter, with my Voters Card and I hv always been Home to cast my vote and by GOD'S GRACE I will be In My Country to Cast my Vote