By Jummai Abu
The Federal Mortgage Bank Of Nigeria (FMBN) has made it easier for individuals who have been contributing to the National Housing Fund (NHF) Scheme for six months, thereby, making the Nigerians eligible to apply for the FMBN Rent-to-Own housing products.
This allows one to move into these houses with ease as a tenant and conveniently pay towards ownership of such. Payments can be made in monthly or annual instalments over periods as long as 30 years, at an interest rate of 7 percent.
Now, the Federal Mortgage Bank of Nigeria and Labor Unions has completed the constructions of the worker’s estate in Akwa-Ibom with 35 units available for the rent to own scheme, located in Afia-Nsit\Ikot Ntuen Community, off Abak Road.
It comprises of a well build 1-bedroom bungalows at N4M; 2-bedroom semi-detached bungalows for N7.5M, 3-bedroom semi-detached bungalows at N8.5M; 2-bedroom block of flats at N7.2M and 3-bedroom blocks of flats at N8M with good facilities include roads, proper drainages, water and electricity and neighborly spaces.