The Head of Enterprise Risk Management and Product Development at the Federal Housing Authority (FHA) Mortgage Bank Limited, Stanley Oparaocha, has advised Nigerians to key into the National Housing Fund (NHF) to become home owners.
He said Nigerians can access the fund which has hit N21 trillion.
The mortgage banker noted that keying into the housing scheme would to reduce the country’s housing deficit, which he said was around 28 million.
Oparaocha spoke at a seminar, tagged: Acquiring Your Home Through the National Housing Fund (NHF) and Through A Well-Structured Payment, organised by Ensica Real Homes at the weekend in Abuja.
The Business Development Manager at FHA Mortgage Bank, Geoffrey Obi, said Nigerians from 18 years and above could access the fund.
Read Also: FHA Mortgage Bank suspends MD over ‘questionable’ loans, others
According to him, civil servants can get a loan up to N50 million spread over a repayment period of 30 years with a six per cent interest rate.
Obi said: “Once you start contributing to the National Housing Fund, you can access the fund. Nigerians who are 18 years and above can access up to N50 million from the fund. They are expected to remit 2.5 per cent of their income to the NHF.
“The fund is available to people who have contributed to the NHF for a minimum of six months upward. The fund is attractive to younger people. It is meant to put a roof over your head while you are still young and working.”
The Managing Director and Chief Executive officer of Ensica Real Homes, Ethel Idahosa, explained that the company builds affordable homes for Nigerians according to their affordability.
She said the company was building over 700 homes for civil servants in the Federal Capital Territory (FCT).
“We ensure our clients purchase our homes with ease by working them through all available channels through the mortgage banks and a well-structured, flexible payment plan to ensure they get settled in their dream homes within the shortest time.
“We have considerable experience in undertaking real estate developments across Nigeria. We have strategic alliances with key industry leaders, like the Federal Mortgage Bank of Nigeria, FHA Mortgage Bank, and commercial banks in Nigeria. We have demonstrated capacity and consistency over the years in delivering on our customers’ expectations.
“Ensica Real Homes has been operating for over 14 years. We started our operations in Port Harcourt, Rivers State, building homes for Nigerians and providing infrastructure for government and non-governmental institutions.