FIVE STEPS TO ACCESSING A MORTGAGE

WHO IS ENTITLED TO MORTGAGE? 

Everyone! 

Mortgage is an agreement between a person or group of people and a bank, building, society or any organization to borrow money with the intention of using the borrowed money to build or buy any piece of property. In return, the person or group of people borrowing offers something of value (collateral), for example, lands, big business or expensive cars. 

We all want to have a place to call our own. Somewhere to feel safe in. But unfortunately not everyone can afford a home of their own due to lack of funds.For most people it's the endless monthly or yearly rents. 

Today i would be letting you in on some important steps to follow on the journey to owning your own home with the help of your country.

Step1 

You register with the Federal Mortgage Bank of Nigeria (or the one in your country). 

NB: YOUR REGISTRATION NEEDS TO BE WITH YOUR COMPANY OR THROUGH A COMPANY YOU WORK FOR.

Step 2 to 7 are limited to FMBN

Step2

The Individual will complete a form (NHF1) and return to the nearest branch of the (FMBN).

Step3

The (FMBN) will register the individual and issue a registration number.

Step4

Federal Mortgage Bank of Nigeria will issue form (NHF2)  to the Employer. This form is to be completed by the Individual.

Step5

The Individual will complete the form (NHF2) and return to the employer.

Individual is then to await approval from the Mortgage Bank.

For more information on this topic, contact me on +2348088695252 or visit FMBN website

www.fmbnigeria.org

So, go get yourself informed because everyone deserves to OWN a HOME...