National Housing Fund (NHF) – A government-backed mortgage plan managed by the Federal Mortgage Bank of Nigeria. It offers the lowest interest rate in the country at 6%, with a repayment period of up to 30 years and a maximum loan amount of ₦50 million.
Per Month
6%
Interest Rate
Semi Finished
Finishing Level
₦25,000,000
Finishing Level Price
20% (₦5,000,000)
Minimum Initial Deposit
₦50,000,000
Max Loan Amount
2 years and 6 months
Max Payment Period
Per Month
0%
Interest Rate
Semi Finished
Finishing Level
₦25,000,000
Finishing Level Price
25% (₦6,250,000)
Minimum Initial Deposit
9 months
Payment Period
Rent-to-Own – Also provided by the Federal Mortgage Bank of Nigeria, this plan allows buyers to move into their homes while making payments over time. It has a 7% interest rate, a maximum tenure of 30 years, and a loan ceiling of ₦50 million, typically for properties funded by the bank.
Per Month
7%
Interest Rate
Semi Finished
Finishing Level
₦25,000,000
Finishing Level Price
20% (₦5,000,000)
Minimum Initial Deposit
₦50,000,000
Max Loan Amount
2 years and 6 months
Max Payment Period
One-Time Payment
Semi Finished
Finishing Level