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FMBN Rent To Own Housing Property Loan – Apply Here



FMBN Rent To Own Housing Property Loan

FMBN Rent To Own Housing Property Loan – Apply Here

The Federal Mortgage Bank of Nigeria is calling on eligible contributors of the National Housing Fund (NHF) Scheme, for the application of its Rent-To-Own Housing Property Loan. As an eligible contributor of the NHF, you can apply for the Loan, move in as a tenant and conveniently pay to own it over time using the FMBN Rent-to-Own housing product.

You may also want to read Apply For JAIZ BANK PLC And SMEDAN Matching Fund Programme

About The FMBN Rent To Own Housing Property Loan

The FMBN Rent-to-Own scheme is an innovative affordable housing product, which provides an easy and convenient payment plan towards home ownership for Nigerian workers. The scheme is specifically designed to make it possible for Nigerian workers to move into FMBN homes as tenants, pay for and own the properties through monthly or yearly rent payments spread over periods of up to 30- years.


The loan is to afford Nigerians an opportunity to access mortgage loans for the construction of homes. The product is specifically designed for Nigerians who are contributors to the National Housing Fund and desire to construct properties that are personally owned by them or through family ownership.


1. Any Nigerian above the age of 18

2. Applicant must be a contributor to the National Housing Fund for a minimum period of six (6) months.

3. Applicant must have satisfactory evidence of the regular flow of income to guarantee loan repayment.



  • The scheme allows an eligible beneficiary to own a residential property through rentals

Product Features

1. The maximum purchase price of the property shall not be more than N15,000,000.00 (Fifteen Million Naira), affordability of which shall be determined by the income limit of the beneficiary and the projected tenancy duration.

2. The rent repayment period shall not exceed thirty (30) years.

3. Interest rate shall be 7% of the price of the property on an annuity basis.

4. Monthly or annual payment shall not exceed 1/3 of the applicant’s monthly/annual income.

5. The facility shall not be available to any contributor who has enjoyed an NHF loan to buy or build a house.


5. Properties would be insured against Fire & Special Perils and Credit Life Assurance as covered in interest rate.

How To Apply

1. An interested subscriber will visit any of the FMBN Branch Offices nationwide to check out the available houses and prices.

2. The applicant will then fill out the form, attaching all necessary documents as stipulated, and return same to the Branch Office.

For more information, visit the official website


Security For The Loan

The subject property for the transaction was purchased in the name of FMBN and held in trust by the Bank and the title will be transferred to the beneficiary upon full payment for the property

Eligibility Criteria

  • Applicant must have registered with the National Housing Fund for a period of not less than 6 months with consistent NHF remittances.
  • Applicants must be first-time beneficiaries of the NHF loan.
  • Applicants must have verifiable means of income.

You may also want to read SMEDAN Registration Portal 2022 |

Documentation Requirements

1. One passport-sized photograph (with white background standard), name, and signature behind NHF contribution number.

2. Proof of identity – Valid driver’s license, National ID card, international passport, staff ID card, or Tax Payee Card.

3. Pay-slip for the last three (3) months preceding the application.


4. Certified personal bank statement for the last six (6) months.

5. Copy of letter of confirmation by Employer.

6. Letter of undertaking by the employer to deduct the rental payment from the beneficiary’s salary and allowances and remit same to FMBN’s TSA account.

7. Evidence of additional income to service the rent (if any).


8. Provision of Bank Verification Number (BVN).

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