Friday, July 26, 2019

0% Equity Contribution For Mortgage Below N5m


The Managing Director of Federal Mortgage Bank of Nigeria FMBN at the ongoing National Housing Show has revealed that there is no equity contribution for those applying for mortgage loan of below N5m while for loan from N5m to N15m would contribute only 10%.

He said the bank under his leadership review the equity contribution to make housing loan accessible to more Nigerians who desire to own their homes

Other innovations include increase in construction loan to developers.


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