The Federal Government has opened access to housing loans of up to ₦50 million for eligible Nigerians seeking to buy, build, renovate or improve their homes under the National Housing Fund (NHF) Mortgage Loan scheme.

The Federal Mortgage Bank of Nigeria (FMBN) said qualified NHF contributors can access the facility at an interest rate capped at 6 per cent per annum.

Under the scheme, FMBN provides funds to accredited Primary Mortgage Banks (PMBs) at 4 per cent, while the PMBs lend to NHF contributors at 6 per cent.

Borrowers can repay the loan over a period of up to 30 years, although the actual loan amount and repayment period depend on the applicant’s income, age and the value of the property being financed.

FMBN generally limits individual borrowing to 90 per cent of the cost or value of the mortgaged property, while monthly repayments are typically capped at one-third of the applicant’s income.

Who can access the ₦50m housing loan?

Not every Nigerian automatically qualifies for the facility.

Applicants must:

• Be Nigerian citizens aged 18 years or above.
• Be registered under the National Housing Fund.
• Have made continuous NHF contributions for at least six months.
• Have a verifiable and regular source of income.
• Self-employed applicants must provide supporting evidence of income.

Documents applicants may need

Applicants may be required to provide:

• NHF contribution records
• Proof of income
• Recent payslips
• Property title documents
• Property valuation report
• Completed mortgage application form
• Employment documents
• Tax documents

Applicants seeking financing for construction may also be required to submit a bill of quantities.

How to apply for the ₦50m housing loan

Applicants do not apply directly to FMBN.

Instead, they are required to apply through an FMBN-accredited and licensed Primary Mortgage Bank or mortgage loan originator.

The process begins with confirming NHF registration and verifying that the applicant has made at least six months of contributions.

The applicant then selects an accredited mortgage institution and submits the required application forms and supporting documents.

The mortgage institution reviews the application, assesses the applicant’s repayment capacity and conducts the necessary legal and property valuation checks.

After the assessment, the institution forwards the application for approval.

If the application is approved, the funds are disbursed through the accredited institution for the approved housing purpose.

What can the loan be used for?

The approved funds can be used for specific housing purposes, including:

• Buying a residential property
• Building a new home
• Improving or renovating an existing home

The facility is therefore designed to support different routes to homeownership rather than only the purchase of completed houses.

Where can Nigerians get more information?

FMBN provides additional information on NHF registration, eligibility requirements and the mortgage loan scheme through its official website.

Nigerians interested in the facility are advised to check the FMBN NHF Mortgage Loan page for the latest requirements and application information.

The key point for prospective applicants is that the ₦50 million is the maximum available loan, not an automatic amount every applicant will receive. The amount and repayment period depend on factors including income, age and the value of the property being financed.

The programme provides another route to housing finance for eligible NHF contributors, particularly Nigerians who need financing to purchase, construct or improve residential property.

The post Nigerians Can Now Apply for ₦50m Home Loans as FG Opens Portal appeared first on Housing TV Africa.

More Nigerians are turning to bank loans to finance the purchase and construction of homes, with demand for housing-related credit recording a notable increase in the second quarter of 2026.

The development was disclosed by the Central Bank of Nigeria (CBN) in its Credit Conditions Survey Report for Q2 2026, which showed increased demand for loans across several segments of the economy, particularly housing and small-business financing.

According to the report, demand for credit to purchase houses rose to 9.6 index points during the quarter. Mortgage and re-mortgage lending to households also increased to 13.3 index points, indicating stronger demand for formal financing for housing-related needs.

The increase comes as households continue to face significant financial pressure from rising construction costs, property prices and other living expenses. For many Nigerians, access to bank financing can provide an alternative to paying the full cost of a property or construction project upfront.

The CBN report also recorded broader growth in secured lending. Overall demand for secured credit increased to 15.1 index points, while demand for corporate lending reached 15.2 index points.

Small businesses recorded one of the strongest increases in demand for credit, with lending rising to 26.4 index points. Lending to medium-sized private non-financial companies also increased to 25.5 index points, while credit to large private non-financial companies rose to 8.9 index points.

Consumer lending also strengthened during the period. The CBN reported that consumer loans to households increased to 11.2 index points, while household overdrafts and personal loans rose to 7.9 index points. Credit card lending, however, declined to -2.0 index points.

The improvement was not limited to demand. The report indicated that banks experienced lower default rates across secured and unsecured lending, while repayment performance also improved among small businesses and various categories of private companies.

The rise in housing credit demand could be significant for Nigeria’s housing market. Mortgage finance remains an important component of any effort to expand homeownership, particularly where property prices are too high for households to rely solely on personal savings.

However, stronger demand for housing loans does not necessarily mean that housing has become more affordable. Higher borrowing costs can still limit access to mortgages, while the underlying cost of land, construction materials and property development continues to influence the final price of homes.

The latest CBN figures therefore point to two developments happening at the same time. Nigerians are increasingly seeking formal credit to meet their housing needs, while the affordability challenge continues to make access to suitable housing difficult for many households.

For Nigeria’s housing sector, the long-term impact will depend not only on the availability of credit but also on whether financing becomes affordable enough for more households to qualify and whether increased lending translates into greater housing supply.

The post CBN Reports Increase in Housing and Mortgage Credit Demand appeared first on Housing TV Africa.

The Federal Government Staff Housing Loans Board (FGSHLB) revealed this development on Thursday through its Head of Information and Public Relations, Mrs. Ngozi Obiechina, in Abuja.

According to the Executive Secretary of the Board, Mrs. Salamatu Ahmed, the decision follows a directive issued by the Office of the Head of the Civil Service of the Federation, which emphasized the importance of obtaining a Certificate of Non-Indebtedness as a mandatory requirement for retirement from the public service.

“The Federal Government will commence the seizure of mortgaged properties belonging to retiring federal public servants who have failed to fully repay housing loans obtained from the board,” Ahmed stated.

She stressed that the FGSHLB retains the legal authority to repossess such properties based on the terms of the loan agreements, in accordance with Public Service Rule 021002 (p). The rule mandates all retiring public servants to present proof of full loan repayment before exit from service.

The Board is currently compiling a list of retirees with outstanding housing loan debts, which will be forwarded to relevant government agencies for enforcement and recovery actions.

Ahmed also warned that this policy is not limited to newly retiring officials but also applies to those who have already exited public service but remain indebted.

Affected individuals are advised to urgently regularize their loan status and obtain the necessary clearance certificates to avoid asset forfeiture.

“The board remains committed to enforcing compliance and following all due process in the recovery of public funds,” Ahmed said.

This move marks a renewed push by the government to improve financial discipline within the civil service and safeguard the sustainability of housing loan schemes.

The post FG Moves to Reclaim Properties from Retired Civil Servants Over Unpaid Housing Loans appeared first on Housing TV Africa.

Marking its 15th anniversary with a renewed focus on bridging the housing gap, the company is rolling out initiatives that prioritize affordability, accessibility, and sustainability in home development.

At the anniversary celebration in Abuja, the company’s Chief Executive Officer, Professor Festus Uwakhemen, emphasized the importance of providing quality housing solutions that cater to all Nigerians, regardless of financial status.

He acknowledged that homeownership remains a distant dream for many, primarily due to skyrocketing real estate prices and economic constraints.

However, he reassured the public that the firm is determined to change that narrative by offering low-cost housing without compromising quality.

“Housing is not a luxury; it is a necessity,” Uwakhemen stated. “Unfortunately, many Nigerians, especially those in the low-income bracket, find it nearly impossible to afford a decent home. At our company, we see this as a challenge that must be addressed, and we are taking deliberate steps to ensure that more individuals and families can secure a place they can proudly call home.”

Reinforcing this commitment, the company’s Managing Director, Shola Peters, shared insights into their ongoing and future projects.

She revealed that the firm has embarked on several large-scale developments tailored to low-income earners, one of which is a 700-plot residential estate in Orozo, Nasarawa State.

According to her, this initiative is designed to provide quality, affordable housing options in a rapidly developing region.

Peters further highlighted the financial constraints many aspiring homeowners face and the company’s strategy to alleviate such burdens.

“We understand that affordability is a major concern for many Nigerians,” she said. “That’s why we are working hand in hand with mortgage banks and other financial institutions to provide flexible payment plans that make homeownership more realistic and accessible. Our goal is to remove the financial barriers that prevent people from owning homes.”

Beyond Nasarawa, the firm is expanding its footprint with affordable housing projects in Lagos, Port Harcourt, and Edo State, as disclosed by the company’s Chief Operations Manager, Joseph Akpezi.

He underscored that the firm is not merely building houses but creating sustainable communities where families can thrive.

“The demand for affordable housing continues to grow, and we are fully committed to meeting this need,” Akpezi affirmed. “We are introducing innovative housing solutions that not only meet industry standards but also align with the economic realities of everyday Nigerians. Our long-term vision is encapsulated in our motto—‘Shelter for All.’”

As part of its broader efforts, the company is also exploring partnerships with government agencies, private investors, and federal mortgage institutions to introduce low-interest housing loans and flexible mortgage options.

Akpezi stressed that homeownership should not be an exclusive privilege for the wealthy but an attainable goal for all hardworking Nigerians.

With an ambitious expansion plan and a clear mission to redefine affordable housing in Nigeria, the firm is positioning itself as a trusted name in the real estate sector.

By providing practical solutions and easing the financial burden of homeownership, the company offers renewed hope to low-income earners striving for a place to call home.

The post Bringing Homes Within Reach: Firm Vows to Tackle Housing Crisis for Low-Income Earners appeared first on Housing TV Africa.

This initiative is designed to make housing more affordable by offering financing options below the prevailing market rates.

The fund is expected to stimulate the housing market by enabling more individuals to purchase homes, thereby increasing demand in the real estate sector. This move aligns with broader economic strategies to boost home ownership and address housing deficits in the country.

The Head of Investment, ARM, an asset management firm, Biyi Adekunbi said though the program had been registered, however the fund would be launched in series. According to him, N150 billion has been registered and fully subscribed to by the Ministry of Finance and the Coordinating Minister adding that the subscription is a concessionary tranche, which is aimed at bringing down the interest rates that would be the mortgages.

The second level of the financing which is series two, Adekunbi said was mainly for commercial investors and the intention is to raise up to N100 billion from commercial investors, specifically pension fund administrators. According to him, currently, the pension fund industry sits on over N20 trillion. The Head of Investment said this fund was one of the structures that had been created to mobilise funding from the sector to address infrastructure challenges, in this instance, specifically, homeownership.

He explained that the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF) was a ₦1 trillion government-backed initiatives designed to provide long-term, low-cost mortgage financing for homebuyers and developers in Nigeria. The fund, he said was aimed to addressing Nigeria’s housing deficit and creates a more accessible and sustainable homeownership system

The fund would address the homeownership issue through the provision of long-term low rates, low interest rate mortgages. “At low rates and long term, we are talking about mortgages at 12per cent for up to 20 years,” Adekunbi said adding it will be issued through eligible financial institutions that will be pre-qualified.

He said these facilities would be non-lending arrangements and would be created through eligible financial institutions in lending the mortgage facilities to qualified homebuyers adding the supply side is related to the provision of housing units to the scheme.

He said in the last couple of months due to rising inflation developers were unable to complete the project at the prices they’ve sold off-plant, resulting in undue losses and not being able to deliver the properties that they’ve committed to the homebuyers.

“What the MREIF will do is the provision of off-take guarantees to these developers which will serve as a credit enhancement. This will enable them to approach construction lenders to raise construction finance for the development of residential homes,” he said.

Adekunbi said this takes the pressure of committing to homebuyers at a low rate, and it also enhances their credibility because it’s a credit enhancement, and they’re able to raise sufficient funding to complete their project and sell at market prices.

He said currently, there were well over 2,000 housing units, and homebuyers would have the opportunity to conduct their eligibility criteria that individually confirm how much they are able to access based on their current income, their age, and how much equity contribution they have.

“With that information, they will be able to view the properties they qualify for on the platform, and then approach or apply for the offer letters for the property,” he said, adding that if they qualify, the developers would be able to issue offer letters for the properties for them on the platform.

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