1. What Really Is NHF ?
Answer: NHF is National Housing Fund which was established by the Federal Government of Nigeria
2. What is the Purpose of NFH Scheme?
Answer: The scheme is for Nigerians in paid employment to Access low interest Government loan to be a home owner.
- Who can Access NHF?
Answer: Contributors to the scheme that is above 18years old, Workers in both Public and Private Sector whose salaries are more than N3,000 yearly
- Who is the custodian of the NHF scheme?
Answer: The Federal Mortgage Bank(FMBN) of Nigeria.
- How much is deducted from my Salary?
Answer: According to the Act, the Contributory rate is 2.5% of the monthly basic salary.
- How do I open an NHF Account?
Answer: Open a savings account with a Primary Mortgage Institution (Registered Mortgage Banks)
7. How long will I save for before accessing NHF loan?
Answer: A minimum of Six (6) months
8. What is the maximum amount I can access?
Answer: 15million
9. What is the tenor of the loan?
Answer: 58 years minus your present age. subject to maximum of 30years.
10. What is the equity contribution for the loan?
Answer: 10% of the property value
11. What is the interest rate on the loan?
Answer: 6% on reducing balance
