Become a contributor to the fund.
Houses Available on Rent To Own
Rent To Own
The FMBN Rent to Own is designed for NHF contributors. With this plan, you move into an FMBN funded home and pay rent monthly, but the rent is actually contributing to you owning the home over time, and once payment is completed, the house becomes yours.
Attributes
Important details about the Rent To Own
- Interest Rate
- 7%
- Monthly Payment
- Down Payment
- 10%
- Payment Period
- 30 years
- Maximum Loan Amount
- ₦50 million
- Property Management
- 20% of Earnings
- Application Processing Time
- 6 - 12 Months
- Closing Costs
- Legal, & Insurance.
- Joint applications and co-owners allowed?
- Yes
Home Price
How it works
How the Rent To Own works on Giddaa.
Step 1
Start Contributing
Register as an NHF contributor and make monthly contributions through the FMBN Internet Banking portal.
Performed by You
Step 2
Find and Apply
After 6 months of contributions (for new contributors), choose a home available on Giddaa under the Rent-to-Own plan, inspect it, and apply by submitting your documents for prequalification.
Performed by You with support from Giddaa
Step 3
FMBN Reviews Application
Your application is submitted directly to the FMBN Zonal Office for document checks, processing, and approval.
Performed by Federal Mortgage Bank of Nigeria (FMBN)
Step 4
Get Offer, Move In
If approved, FMBN issues an offer letter, and once you accept, you move into the home and start your Rent-to-Own journey.
Performed by You
Application Documents
The documents you need to submit when applying.
Who can apply
Find out if you are eligible to apply for this plan.
individuals
These are people applying by themselves, without a co-applicant.
The following Individuals can apply through this payment option
- Government Workers (In Nigeria)
- Private Workers (In Nigeria)
- Self Employed (In Nigeria)
- Government Workers (In Diaspora)
- Private Workers (In Diaspora)
- Self Employed (In Diaspora)
Couples & Common Law Partners
These are people who have been partnered by law.
The following Individuals can apply through this payment option
- Government Workers (In Nigeria)
- Private Workers (In Nigeria)
- Self Employed (In Nigeria)
- Government Workers (In Diaspora)
- Private Workers (In Diaspora)
- Self Employed (In Diaspora)
Available Houses
The houses available for purchase under this plan type.
Things You Should Know
Have questions? Hopefully, this provide answers to your questions.