NHF LOAN APPLICATION REQUIREMENTS
1. Open NHF account with a Primary Mortgage Bank (PMB)
All members of Metro Coop will access their funds through AG Mortgage Bank.
2. Equity contribution towards the cost of the property thus;
3. A completed and executed NHF Loan Application form
4. A written application letter for NHF loan
5. Applicant’s pay slip (last three months).
6. Evidence of Registration with FMBN as NHF contributor (Copy of updated NHF passbook Minimum of 6-months continuous contribution)
7. Copy of Birth certificate/Age declaration
8. Account Opening Deposit - N5,000 (Payable to the PMB)
9. Payment of a non-refundable fee of N105,000 as processing fee
10. Tax Clearance Certificate (non-civil servants)
11. Six passport photo graphs
12. Valid ID; e.g. National ID, International Passport, Driver’s License, Voter’s Card
13. Letter of undertaking by the applicants that He/She has not earlier obtained NHF loan
14. Six months bank statement (Salary Account or other accounts); Bank statement of at least one year is required for Informal sector (Private businesses etc.)
15. Employment/Promotion letter.
FEES REQUIRED FOR PROCESSING NHF
Interest rate – 6% per annum
Mortgage Fee – 2.25% Flat of the approved loan amount (payable upfront)
Perfection fees – 10% of the approved loan amount (payable to FMBN)
Mortgage protection Insurance – 0.55% of the approved loan amount (payable annually)
Property Insurance – 0.25% of the value of the property (payable annually)