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    By Dipo Tepede, 3 years and 4 months ago

    THE NHF SHEME

    Average time to read2:30 minutes aprox.

    “A wise man builds his house on the rock” ‫ Jesus Christ

     

     

    The basic need of everyman is food, shelter and clothing; these needs actually come in the sequence mentioned. The instinct for survival is the mainstream in life and in order to consolidate to meet the challenges of the future, one needs to start building structures today. Basic shelter is one of the most progressive assets in life and actually the most liquid property that can be used for barter exchange. If you have a land, you are wealthy; if you own your house, you are sure of a stable asset. All said and done, renting (not to talk of owning) a house has become a worrisome burden for youths in Nigeria especially for those seeking to build a family. The rate of increase for rent is alarming; barely one year ago, a three bedroom flat that goes for 150K/year in an average mainland like Surulere is now 450K/year. This astronomical 300% increase accompanied with lethargic promotion in the work place calls for serious consideration.

     

     

    I do not want to build a house because I know the hassles it involves ‫ my father built his houses, my mother built hers and my elder ones built theirs also. So I am quite familiar with the heart ache involve. All I need to do is buy one or renovate one; whichever way, one needs to be prepared. With the proliferation of mortgage schemes in the country, one needs to be wise in choosing the ones that would not cut your throat so my research has landed me on the NHF fund. What is the NHF fund? NHF is an acronym for National Housing Fund; it’s a government owned scheme championed by the Federal Mortgage Bank of Nigeria. Your contribution of a minimum of five hundred naira (N500) to this scheme for six month authenticates your right to a loan of maximum Five Million Naira (N5, 000, 000) at 7% interest over an average of 35 years payment depending on your age. Wonderful, right but it comes with its own snag:

     

     

    You can only obtain this loan through a mortgage bank that makes sure you have a Five Hundred thousand Naira (N500, 000) deposit in their bank and a charge of about Eighty Thousand Naira (N80, 000). It’s actually still not bad in comparing it with other mortgage scheme; this I have decided to do to build for the future. I do not want to wake up one day and realized that to rent a house in Lagos, you have to share your three bedroom flat house with three other families to be able to pay. Lagos is tending towards this trend that is why a wise man should build for the future. I can not forget the smile on my fathers face when he collected his rent from one of his tenant amounting to about 200K/year for a three bedroom flat that he collected 12K/year in my presence just barely some years ago. He even boasts that he is a generous and fair man; amongst other landlords he collects peanuts. What can we say; you only need to be wise.

     

     

    Now coming to investment scheme, housing is actually a non-depreciative asset if I may use that language. It is actually an investment that has negligible risk except a “force majure” threatens. After going through coup is coup and you are successful (not that I am advocating coup is coup), this I would advise you to venture in because you really need to. God told Noah to build an ark for the future storm that he has never experienced and he simply obeyed. I am not God but I am prophetic; consolidate your life for the future challenges ahead because they definitely look grim.

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    26 comments

    Gravatar #26. Charles
    1 year and 10 months ago

    Hello Dipo
    Pls send me the name/contact details of your PMI. Did you get the NHF loan? At what rate? Many thanks.

    m2m

    Gravatar #25. OLUWAKEMI TITILOPE OREPEKAN
    1 year and 11 months ago

    i love your comments, they are good advise and prohetic as you have rightly said.

    i just want you to expanciate more on the NFH SHEME

    m2m

    Gravatar #24. DoskySmyl
    3 years ago

    friends what is happening no one is talking about this nhs again?

    m2m

    Gravatar #23. DoskySmyl
    3 years and 1 month ago

    @All, I feel the list below might be a little useful for you guys in the house.

    @ Dipo, I guess the Omega mortgage bank is the same as omega savings and loans in the list. Pls correct me if I'm wrong.

    Have fun guys.

    Abbey Building Society Limited
    Address: 19, Warehouse Road, Apapa, Lagos
    Phone: +234 1 5873740, 5875607, 5871493, 5873740

    ABS Building Society Limited
    Address: 45 Apongbon Street, Lagos, Lagos State
    Phone: +234

    Acclaim Home Savings & Loans Ltd
    Address: 11B Karimu Kotun Street, Victoria Island, Lagos
    Phone: +234 1 2618942, 2610112, 2616967; Fax: +234 1 2623098.

    Accord Savings & Loans Ltd
    Address: 2 Aromire Avenue, Off Adeniyi Jones Avenue, Ikeja, Lagos
    Phone: +234 1 4936913, 5557507; Fax: +234 1 4972076.
    Website: http://www.accordsavings.com

    AG Homes Savings & Loans Ltd
    Address: 96, Opebi Road, Ikeja Lagos
    Phone: +234

    Akwa Savings & Loans Ltd
    Address: 42 Oron Road, Uyo, Akwa Ibom State.
    Phone: +234 85 201798, 202356.

    Allwell Savings & Loans Ltd
    Address: 90 Upper New Market Road, Onitsha, Anambra State.
    Phone: +234 46 214829; Fax: +234 46 219869.

    Amex Mortgage Finance Company Ltd
    Address: 10 Ogui Road, Enugu, Enugu State.
    Phone: +234 42 253390; Fax: +234 42 253390

    Amicable Building Society Limited
    Address: 45, Apongbon Street, Lagos Island, Lagos
    Phone: +234 1 2641233-4, 2640457, 2642880

    Anambra Home Ownership Co. Limited
    Address: 1 Prince Arthur Eze Road, Awka, Anambra State
    Phone: +234

    Aso Savings & Loans Ltd
    Address: 8 Ogbomoso Street, Area 8, Garki, Abuja.
    Phone: +234 9 2345156 - 8; Fax: +234 9 2345158
    Website: http://www.asosavings.com

    New Prudential Building Society
    Address: 28 Oba Akran Avenue, Ikeja, Lagos
    Phone: +234 1 4937143, 4976396, 4611644

    Nigeria Bank For Commerce & Industry
    Address: 26, Idejo Street, P.O.Box 4412, Victoria Island, Lagos
    Phone: +234 1 2614872

    Nigerian Industry Dev. Bank Limited
    Address: NIDB House, 63/71, Broad Street, P.O.Box 2357, Lagos Island, Lagos
    Phone: +234 1 2663470, 2661460, 2662355, 2661684

    Omega Savings & Loans Limited
    Address: Total Plaza, Km 16, Lekki Expressway, Agungi, Lekki, Lagos.
    Phone: +234 1 8763148
    Website: http://www.omegasavings.com

    Personal Trust Savings & Loans Limited
    Address: 67, Ogunala Drive, P.O.Box 960, Surulere, Lagos
    Phone: +234 1 5454711, 7733584, 7736639
    Website: http://www.ptslng.com

    Spring Mortgage Limited
    Address: 16 Diya Street, Ifako - Gbagada, Lagos
    Phone: +234 1 7616644
    Website: http://www.springmortgageltd.com

    STB Building Society Limited
    Address: 64, Awolowo Road, Ikoyi, Lagos
    Phone: +234 1 685058

    Union Homes Savings & Loans Limited
    Address: 153, Ikorodu Road, Onipanu, P.M.B. 041, Shomolu, Lagos
    Phone: +234 1 4972184-6 Fax: +234 1 4972186

    Union Trust Building Society Limited
    Address: 79A, Samuel Adedoyin Street, Victoria Island, Lagos
    Phone: +234 1 2622506, 2622507, 2617476, 2622506-7

    m2m

    Gravatar #22. DoskySmyl
    3 years and 1 month ago

    Thanks a lot Dipo.
    Pls help with their contacts, phone numbers, office address and all. website if they have.

    cheers

    m2m

    Gravatar #21. Dipo Akin Tepede
    3 years and 1 month ago

    @ Dosky

    I am making use of Omega Mortgage Bank....

    m2m

    Gravatar #20. DoskySmyl
    3 years and 1 month ago

    @ Dipo,
    «My mortgage Bank claims they can get it done on 6 month immediately after your deposit of 580K is in the account»

    Why are you silent on the name of your mortgage bank? I'm sure everyone in this blog will appreciate this info.

    Thanks

    m2m

    Gravatar #19. Prince
    3 years and 2 months ago

    Nospetco, Treasurelink,etc are all stories compared to 6k4U. I joined the 6K4U that yields $6000 or N780,000 in 6 to 10 weeks by just investing N24000 for 2poeple. I joined in less than a month ago and have entered the board and will be cycling out to get a $6000 in no time by Gods grace, imagine what you could do with this kind of money in Nigeria. investigate this info and you’d discover its not a scam but its for real. when you make up your mind you can join this winning team now!!!

    To Join: http://www.6k4you.com/6k.cgi/odedinasat/join.html

    My Ref:
    http://www.6k4you.com/odedinasat

    cheers,

    Prince

    m2m

    Gravatar #18. myur odeys
    3 years and 2 months ago

    well Dipo, has great lessons that the HYIPs need to heed. Dipson More power to your elbow

    m2m

    Gravatar #17. chionyins
    3 years and 3 months ago

    @Mathew/ALL,
    I have been away from these thread for a while too.
    I still would apreciate infor about mortgages as in best rates from PMI, understand one could get somwthing better than banks rates

    Cheers

    m2m

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