INFO: Federal Mortgage Bank Loan: How to Apply, Requirements, Interest Rate

INFO: Federal Mortgage Bank Loan: How to Apply, Requirements, Interest Rate

It is the dream of every worker to build a befitting house that would be called a home; because not every house is called a home. So if that is your dream, then you can actualize it. In this post, you will learn everything you need to know about Federal Mortgage Bank Loan with which you can build your dream, house as a civil servant.


Definitely, there are requirements you must meet even as you are a civil servant or just a Nigerian worker before you will be granted the Federal Mortgage Bank loan. Again, you have to understand that you must be a participant of the National Housing Fund (NHF) before you are eligible to borrow the FMBN loan. This means that you will be contributing 2.5% of your monthly salary for this.

With that said, you also have to make the following documents available:

  • A completed application form for the loan.
  • Provide photocopy of title documents.
  • You must provide current valuation report on the proposed house to buy or bills of quantities (BOQ) for the house to build.
  • Provide three years tax clearance certificate.
  • Provide evidence of NHF (National Housing Fund) participation.
  • You must show copy of pay slips for the previous three months.
  • Equity contribution or personal stake of 30%, 20% or 10% depending on the loan amount applied for.

How to apply

With Federal Mortgage Bank of Nigeria loan, you will get N15 million to finance your housing project. You are allowed to apply once your lifetime, and just any worker can apply as far as the person meets the requirements of the NHF.

You can only apply through a duly licensed and accredited mortgage loan originator (MLO) of your choice, and not directly to Federal Mortgage Bank of Nigeria (FMBN).

The mortgage loan originator of your choice must be accredited by FMBN to access the NHF facility. It is also with the MLO that you obtain the NHF loan.

List of Mortgage Loan Originators in Nigeria
There are 34 MLO approved by CBN. To apply for the FMBN housing loan, you can walk into any of the MLO closest to you and obtain the application form.

  • Abbey Mortgage Bank, Lagos State
  • AG Homes, Lagos State.
  • Akwa Savings, Akwa Ibom State.
  • Aso Savings and Loans, Abuja (FCT).
  • Brent (Skyfield) Savings, Lagos State.
  • Centage Savings and Loans, Lagos State
  • City Code, Lagos State
  • Coop Savings and Loans, Oyo State
  • Delta Mortgage Finance, Delta State.
  • FBN Mortgages, Lagos State.
  • FHA Homes Ltd, Abuja (FCT).
  • First Generation Homes, Abuja (FCT).
  • Gateway Savings, Ogun State.
  • Global Trust, Lagos State.
  • Haggai Mortgage, Lagos State.
  • Home-base Mortgage, Lagos
  • Imperial Homes, Lagos State.
  • Infinity Trust, Abuja (FCT).
  • Jigawa Savings and Loans, Jigawa State
  • Jubilee-Life Mortgage Bank, Lagos State
  • Kebbi State Homes, Kebbi State
  • Lagos Building and Investment, Lagos State
  • Mayfresh Mortgage Bank, Abia State.
  • MGSL Mortgage Bank, Abuja (FCT).
  • Mutual Alliance, Akwa Ibom State
  • New Prudential, Lagos State
  • Nigeria Police Mortgage Bank, Abuja (FCT).
  • Omoluabi (Livingspring), Osun State
  • Platinum Mortgage Bank Limited, Abuja (FCT).
  • Refuge Homes, Lagos State.
  • Resort Savings and Loans, Lagos State.
  • Safetrust Savings and Loans, Lagos State/Abuja
  • STB Building Society, Lagos State
  • Trustbond Mortgage Bank, Lagos State

Interest Rate

The interest rate of the Federal Mortgage Bank of Nigeria loan is not fixed. But if you are borrowing the maximum amount allowed (N15, 000,000) then you will repay at the interest of 6% per annum.

Other Popular Banks That Gives Loans In Nigeria:

  • Bank Of Industry Loan
  • Lydia Loan
  • Ferratum Loan
  • One-fi
  • Snapcredit Loan
  • Federal Government Empowerment Loan For Entrepreneur
  • Dbn Loan Nigeria
  • Federal Government Agricultural Loan
  • Gtbank Quick Credit Loan
  • Palmcredit Loan Nigeria


The National Housing Fund loan is repaid on monthly installments from the income of the beneficiary. This style of repayment is both affordable and convenient for the parties involved.

The repayment period is a maximum of 30 years.

Pros & Cons

Maximum tenor of 30 years.
You get enough fund for your housing project.
The house you’re building stands as the collateral.
You must be a NHF contributor before you benefit.

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Customer Care

For more information about the Federal Mortgage Bank of Nigeria loan, please write an email to the address:

Official Website
Contact Number 09-2920689, 09-2920690

Branches & Head Office

The Head Office of Federal Mortgage Bank of Nigeria is located at 266 Cadastral AO, Central Business District PMB 2273 Garki, Abuja. Nigeria.

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