Kingsley U.N. Chikwendu —
The Federal Mortgage Bank of Nigeria (FMBN) Rent-to-Own housing product is an innovative, affordable housing product that provides an easy and convenient payment plan towards home ownership for Nigerian workers.
It also enables an NHF contributor to live in an FMBN funded home as a tenant and eventually own the property through monthly or yearly rent payments spread over periods of up to 30-years at a single-digit interest rate of 7%.
FMBN funded properties with a maximum value of N15million are eligible for offtake with the rent-to-own product.
