Stella Dimoko Federal Mortgage Bank Reduces Conditions For Housing Loans


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Friday, August 10, 2018

Federal Mortgage Bank Reduces Conditions For Housing Loans

Nigerians above 18 with a steady paycheck will now be able to access up to N5 million housing loan from the Federal Mortgage Bank of Nigeria without equity contribution.

According to a statement by Zubaida Umar, the revised requirements are a 100% reduction in the equity contribution required of beneficiaries.

Previously, beneficiaries had to contribute 10% to access up to N5 million, 20% on N10 million and N30% to access N15 million.

With the new conditions, an equity contribution of 10% will only be needed for funds between N5 and N15 million for contributors to the National Housing Fund (NHF).

Ahmed M. Dangiwa, FMBN managing director, said the reduction is to help more Nigerian workers afford quality housing.
from The Cable


  1. Nice cos some of us want to own houses soon ๐Ÿ˜Š. The thing bout this bank loan, it never realy finishes. You keep paying until you can pay off๐Ÿ™„

  2. I just hope it's not just on paper...

  3. Replies
    1. No be so dem dey talk.. Have you applied.? It's for real. Just walk into any accredited Primary Mortgage Bank (PMB) or any FMBN Office nationwide for more info!

    2. My dear I have done that long time I want to go collect my money from the pmb.

  4. Which house can 5 million purchase in place like Lagos and other cities.

  5. point of correction pls, 10% equity for any property that will cost N5,000,000.01 - N15,000,000:00. visit FMBN offices nation wide, get list of accredited Primary Mortgage Banks and apply

  6. How can a nigerian in the diaspora access a 15million naira mortgage

  7. Wow, this is wonderful news, at least all the NHF deductions i see on my payslip won't be for nothing.

    Too bad i won't be needing it anymore.


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