Tag: mortgage
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5 Ways to turn your home into an Asset, not a Liability
Your home is your castle. For many, it is your biggest investment. I huge chunk of your net worth is tied to the valuation of your home. However, for most people, your home does not generate any cash flow. Many homes are actually liabilities and not assets because they require regular financial expenditure to maintain.…
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National Housing Loan – Frequently Asked Questions
A: AIMS AND OBJECTIVES 1. What are the aims and objectives of the NHF Act No. 3 of 1992? a) To facilitate the mobilization of funds for the provision of houses for Nigerians at affordable prices b) To ensure a constant supply of loans to Nigerians for the purpose of building, purchasing and improvement of…
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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…
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Home Ownership: Procedure For Registration in the National Housing Fund (NHF)
Homeownership procedure through the National Housing Fund (NHF): The Federal Mortgage Bank of Nigeria (FMBN) is the manager of the National Housing Fund (NHF) All Nigerians in employment whether self-employed or in paid employment are required by Act 3, 1992 to contribute 2.5% of their salary income to the fund. It can get a tad…
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Where Do I Put My Money?
The need for financial education is greater now than ever before, as opportunities to put your money somewhere and get good returns become more limited. The banking sector reforms have led to a crash in deposit rates, as banks no longer need to source for funds at high interest rates, to patch holes in their…
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Requirements To Get A Home Mortgage Loan in Nigeria
If you want to buy a home for yourself in Nigeria, you can take advantage of a mortgage loan. You can get this loan from different lenders, with different loan terms and conditions. Prior to going to a lender, you can find out how much mortgage you can afford, by using an online home mortgage…