What is National Housing Fund (NHF) Loan scheme?
ANS. It is a scheme set up by FGN to provide housing for all. All workers are expected to register and contribute certain amount from their salary monthly to the NHF Scheme. After about 6 months the person becomes qualified to access the NHF Loan. The maximum amount is N5million and at an interest rate of 6% repayable over 25 years depending on the age of the customer. The customer is also expected to make a contribution of 10% of the value of the property by saving it with a primary mortgage institution like Accord Savings & Loans Ltd.
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