Mortgage Loans in Nigeria: How to Access NHF Loans

To access the National Housing Fund (NHF) mortgage loans in Nigeria, you need to be registered with the NHF and open a National Housing Fund Loan Account. This can be done directly via your employer or through a primary mortgage institution/lender. Your loan application has to be through a registered and duly accredited Primary Mortgage Institution (PMI)

The NHF scheme is for Nigerians in all sectors of the economy, particularly those within the low and medium-income levels who cannot afford commercial housing loans e.g. civil servants, traders, artisans, commercial drivers, etc.

The National Housing Fund (NHF) scheme was established by Decree 2 of 1992 for workers to contribute 2.5% of their basic salary into the fund to be used to grant mortgage loans to them at very concessionary terms for the purchase, building, expansion, or renovation of their houses.

The maximum loan accessible by any contributor has now been raised to N15 million, but for the individual, the maximum you can access is based on your ability to pay back in 30 years. The lending rate is 6% per annum. The repayment period is 30 years maximum subject to the applicant’s present age. The maximum repayment period is determined by deducting the applicant’s present age from 60.

1. Land ownership with the transferable title. (Original for sighting and a copy) Note: Allocation paper is not acceptable. You cannot obtain an NHF loan to buy land.
2. Be a contributor to NHF for at least the past six (6) months.
3. Open a Home Ownership Account and build up a 10% equity contribution to the funding of the project.
4. Submit a handwritten application (original and 2 copies).
5. Four passport photographs endorsed on reverse sides.
6. Duly completed NHF loan application form/statement of income.
7. Approved Survey Plan.
8. Approved Building Plan (Original and 2 copies).
9. Priced Bill of Quantities from Quality Surveyor for new construction and estimate of works to complete the house for a building under construction.
10. Valuation report from a qualified Estate Surveyor ( for existing structures, to be accompanied by photographs of the house.
11. Offer letter (for purchase of the existing building), where allocation paper/form is given, it shall only serve as evidence of offer and not a title document
12. In case of outright purchase an undertaking from the vendor to convey the necessary title upon full payment. Note: The payment of the deposit can constitute your equity contribution.
13. Cash flow projection on loan repayment with evidence of steady stream of income (pay slips for the past 3 months, bank statement for the past 3 years, and /or a letter from your employer stating your total remuneration.
14. If self-employed, submit the following:
    – Company Profile
    – Company’s bank account statement for the past 3 years
    -Three years of audited accounts of the company.
15. Marriage certificate or proof where applicable.
16. Birth certificate or age declaration
17. Payment of necessary charges e.g. inspection, legal fees, etc.
18. Photocopy of current tax clearance certificate (original for sighting)

Theoretically, you can access the funds two weeks after submitting your application, but in practice, it may take up to 3 – 6 months. Having an account with NHF is a good idea if you want to access funds to build. You cannot get a similar deal with commercial banks, whose mortgages are in the double-digit interest rate regime with a typical tenure of 10 years.