C- Construction loan
Maximum Loan Amount: 50% of the loan amount required for completion of the estate expected from FMBN.
Interest Rate: At the prevailing market rate
Tenor: Maximum tenor of 24 months
Purpose: To complete their residential estate which must have been 40% completed
Equity Contribution: Construction on site must be 40% completed
Collateral: Any registered title document
Open a C-Construction loan account with an initial deposit of N100, 000.00
Evidence of off-takers who must have applied for NHF loan
For Construction Company who has consistently delivered on their housing projects and whose off-takers of the existing project have applied for NHF loans.
The loan amount must not exceed 50% of the funds expected from FMBN