HOW TO BE A HOME OWNER
========================
How to buy a house through Mortgage bank in Nigeria

1. Go open an account with FMB Federal Mortgage Bank.

2. Save with them for 6 months.

3. Open an account with FHA.

4. Locate a property.

5. Apply for it.

Note: Government can't fund more than 15 million. However if the property you want to acquire is more than 15 million, let's say 20million.

You will have to come up with the 5 million on the 20 million and the 10- 30% of the 15 million then government will fund the rest.

How do you pay back?

The payment will be spread within the number of years you have in active service.

E.g: If you're 30, its assumed that you have 35 more years in service. So the rest of the payment will be spread into 35yrs.

You will be required to pay it monthly but you can clear it within one year if good things happen.

However, there are some properties that don't require equity.

These are properties below 5 million.

6. You will be given an offer letter that will specify the amount you will pay.

7. After payment you will get an allocation letter.

8. There will be other forms you will fill before you get your key.

9. You will be a house owner.

May Nigeria succeed.

- Adewale Makanjuola
CEO, Landpro Global Investments Ltd
+2348038484069

If Efe Okposio catch you with his write up!