C-Construction loan

C- Construction loan

Maximum Loan Amount:  Obtain a construction line to the tune of N200m

Interest Rate: At the prevailing market rate

Fees: 3%

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

HOW

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 WHO?

For Construction Company who has consistently delivered on their housing projects and whose off-takers of the existing project have applied for NHF loans.

OTHERS

The loan amount must not exceed 50% of the funds expected from FMBN

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