The average working Nigerian is oblivious to the mortgage opportunities available to them, because of the low awareness coverage on the subject. Owning your own house in Nigeria may not be as hard as you think it is. There are existing policies that ensures that low and medium income earners access several options of housing facilities.
TYPE OF MORTGAGE SCHEMES
National Housing Fund (NHF) is a scheme established by the federal government of Nigeria in the year 1992 to enable Nigerians of all societal strata to access facilities that will assist in building and owning homes.
Home Renovation Scheme
The loan facility is available to bear the cost of Nigerians looking to redesign or improve their current homes. The advance is explicitly intended for Nigerians who are contributors of the National Housing Fund and want to redesign or improve existing properties which are possessed by them or through family proprietorship.
Estate Development Scheme
The Estate Development Loan is a housing facility allowed to private engineers, State housing partnerships and housing cooperatives to connect the housing shortfall through large scale manufacturing of houses for possession by NHF patrons.
Capital Market Scheme
Capital Market is a basic column for long haul support activation required in producing fundamental money to encourage expanded Mortgage Financing and Home Ownership in the Country.