Diaspora Mortgage Scheme. Embarking on homeownership while residing abroad is now within reach through the Diaspora Mortgage Loan. Tailored under the National Housing Fund (NHF) Scheme, this financial opportunity allows Nigerians living overseas to access loans of up to ₦50 million, turning their aspirations of owning homes in Nigeria into reality.
PROJECT OVERVIEW:
1. The Federal Housing Authority (FHA) plays a pivotal role in the Ministry’s holistic approach to housing. Engaging in a Public-Private Partnership with the Nigerians in Diaspora Commission (NIDCOM), the Federal Capital Territory (FCT), and private sector entities, FHA spearheads the development of the ambitious Diaspora City Project. Nestled in Maitama 2, this expansive project spans over 675 hectares.
2. Committed to ensuring the success of the Diaspora City Project, the FCT administration is actively involved in infrastructure development. The project includes a diverse range of housing options, from bungalows and semi-detached duplexes to grand mansions, embodying inclusivity.
3. The brainchild of Arc Dangiwa, the Minister of Housing and Urban Development, this visionary scheme was initially conceived during his tenure as the MD of the Federal Mortgage Bank of Nigeria. Now, as the Minister, he seizes the opportunity to launch this impactful initiative.
3. Bid farewell to the challenges of sending money for construction and returning to vacant plots. The Diaspora Mortgage Loan ensures genuine home ownership with transparent documentation from established government MDAs, eliminating the risks of deceit and fraud.
DIASPORA MORTGAGE SCHEME | HOW TO APPLY:
- Prospective homeowners can explore various avenues to access the loan, including the National Housing Fund (NHF) loan, Rent-to-Own, or the Individual Construction loan window.
- With attractive terms offering the best market rates, including a single-digit interest rate of 9% and a flexible payback period of up to 10 years, the Diaspora Mortgage Loan paves the way for affordable and sustainable homeownership.
Note: The Federal Mortgage Bank of Nigeria (FMBN) is just one among several agencies addressing the housing needs of the Diaspora under the Ministry of Housing and Urban Development.
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Note: The shortlisted candidates will be contacted via email, and all other important information regarding this programme will be communicated to the shortlisted candidates.
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