FMBN begins zero equity for housing loan subscribers


The Federal Mortgage Bank of Nigeria (FMBN), has commenced the implementation of the new approved conditions for accessing loans from the National Housing Fund (NHF).

This includes zero equity contribution for the provision of housing loans of up to N5million and 10 per cent contribution for housing loans ranging from N5million to N15million by contributors to the NHF.

The revised requirements were recently approved by the board of FMBN. They represent a 100 per cent reduction in the equity…

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