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The Federal Mortgage Bank of Nigeria (FMBN) has reiterated commitment to offering affordable mortgage loans to low and middle income earners across the country.
Managing Director/CEO of FMBN, Shehu Usman Osidi made the disclosure at the 46th Kaduna International Trade Fair, a statement by the Management of the Bank has stated.
“The FMBN is consistently evolving its business operations to promote efficiency while developing dynamic products to suit the different segments of our contributor base, whether low, medium or high-income brackets. In this respect, a number of initiatives and products are currently being rolled out to meet the yearnings and needs of the diverse people who are contributors to the NHF.
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“One of these was the recently approved increase in the NHF Mortgage Loan ceiling from N15m to N50m per applicant in response to the calls from high income earners majorly from the private sector. This development has led to renewed interest in the NHF scheme from Nigerians and every request is being promptly attended to.
“The FMBN also remains the only institution offering affordable mortgages to
Nigerians at single digit rate of between 6 – 7% through products like the Individual NHF Loan, Individual NHF Construction Loan, Home Renovation Loan and the Rent-to-Own produc,”
The Bank added that it will continue to develop affordable products that will enable the Bank to continue to play within these rates despite inflationary pressures,” the statement said.
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