Following the overhaul of the Federal Government Housing Policy, a new plan has come on stream.

N5m housing loan is now ready to be access by the informal sector individuals. This extremely affordable loan is a quick and smart way for you to transition from tenant to landlord in a matter of months.

Affordable home delivery is a social responsibility of every government. This is the reason National Housing Fund (NHF) came on stream.

Though this program was targeted on the civil servants exclusively, but following the overhaul of the housing policy, the informal sector (non-salaried Nigerians) have been included in the Scheme.

This is to say, whether you are a civil servant or self employed you have a right to the facility. The recent disbursement of renovation loans to NHF members is a tangible prove that the game has changed for better.

The plan is that, for the self employed or non civil servants to be involved in the program, they have to take up membership with any of the banks accredited cooperative societies.

The inclusion of Cooperative Societies as representatives of the informal sector is to facilitate speedy process of loan disbursement.

You may join a cooperative society of your choice provided it is registered with Federal Mortgage Bank of Nigeria (FMBN).

If you are interested but don’t know how to get a cooperative to join, go to the bank and make inquiries they will be more willing to assist.

Remember it is a nationwide programme and every state has a branch of the bank.

Find out.

But if you are in Akwa Ibom State and interested in the housing loan, do well to contact Salesman RealEstate Cooperative.

You might be thinking how possible it is to get the loan. Yeah, the program is conceived to carry you along.

Whether your income is low, or you are living in the remote village – no matter your status, there is really no uphill task or requirements.

Only what is required of you is to take a membership with the bank’s accredited cooperative, make a monthly contribution of just N450 into the NHF coffer through the cooperative you belong for 6 months and you are eligible to apply.

All the bottlenecks that delays timely disbursement of NHF loans has been relaxed, as the government is more committed now than ever to ensure the huge housing deficit is drastically addressed.

This loan, aside other conveniences, the repayment plan is amazingly flexible. You have the luxury of 25 years to pay up.

Sometimes the amount of money paid as rents to landlords is more than sufficient to service the mortgage of your dream home.

At the moment there is no cheaper or alternative source of housing loan in the country than what is offered by the Federal Government through Federal Mortgage Bank of Nigeria (FMBN).

Infact, your present yearly rents could defray your mortgage in few years.

I advice that wherever you live in Nigeria get registered with a credible cooperative society that is registered with the bank and commence your monthly contribution.

Cooperative Societies are there to help members surmount huddles threatening their smooth transition from tenant to landlord. For instance, the N5m loan amount in question does not include land purchase. It’s meant for house construction only.

Some cooperative with ability make land available to members under a very flexible payment plan.

Our cooperative, Salesman RealEstate Cooperative Society, being primarily into RealEstate business, make provisions for our members to acquire a piece of land either in any of our estates and pay by affordable installments.

But if you already have a land, you are good to go.

Membership consists of the following;

• Membership fee – N3,500
• Shareholding amount – N48,000 (payable by 12 installments)

P.S:  for more information, do not hesitate to contact us, we are willing and passionate about helping you transition from tenant to landlord.