{"id":1605,"date":"2017-03-07T12:05:17","date_gmt":"2017-03-07T12:05:17","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/?p=1605"},"modified":"2017-03-07T12:05:17","modified_gmt":"2017-03-07T12:05:17","slug":"fg-waives-10-payment-housing-mortgages-n5m","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/fg-waives-10-payment-housing-mortgages-n5m\/","title":{"rendered":"FG waives 10% payment on housing mortgages below N5m"},"content":{"rendered":"<p>&nbsp;<\/p>\n<div>\n<p>ABUJA\u2014 As a demonstration of its commitment to provide affordable <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">housing<\/a> to Nigerians, especially the low income earners, the Federal Government has approved 10 percent waiver on housing mortgages below N5million for Nigerians.<\/p>\n<p><!-- between content ad --><\/p>\n<p>Minister of State for Power, Works and Housing, Mr Mustapha Baba Shehuri, announced this during the commissioning of a 125-unit housing estate being financed by the Federal <a href=\"https:\/\/amazingproperty.com.ng\/blog\/mortgage-preapproval-guide-for-home-buyers\/\">Mortgage<\/a> Bank of Nigeria, FMBN, in Enugu.<\/p>\n<p>Shehuri said the ministry planned to build mass <a href=\"https:\/\/amazingproperty.com.ng\/blog\/really-nice-property-for-sale-in-nigeria\/\">houses<\/a> in every state of the federation for public workers and other interested parties over the next three years, through Public-Private Partnerships, PPP.<\/p>\n<figure id=\"attachment_746646\" class=\"wp-caption alignnone\" style=\"width: 412px;\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-746646\" src=\"https:\/\/i0.wp.com\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3.png?resize=412%2C250\" sizes=\"auto, (max-width: 412px) 100vw, 412px\" srcset=\"http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3.png 412w, http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3-300x182.png 300w, http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3-58x35.png 58w, http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3-260x158.png 260w, http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3-200x121.png 200w\" alt=\"\" width=\"412\" height=\"250\" data-lazy-src=\"https:\/\/i0.wp.com\/d19lga30codh7.cloudfront.net\/wp-content\/plugins\/lazy-load\/images\/1x1.trans.gif\" \/><noscript><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-746646\" src=\"https:\/\/i0.wp.com\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3.png?resize=412%2C250\" alt=\"\" width=\"412\" height=\"250\" srcset=\"http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3.png 412w, http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3-300x182.png 300w, http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3-58x35.png 58w, http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3-260x158.png 260w, http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2017\/02\/Osinbajo-FEC3-200x121.png 200w\" sizes=\"auto, (max-width: 412px) 100vw, 412px\"\/><\/noscript><figcaption class=\"wp-caption-text\">R-L, Minister of State Aviation, Sen Hadi Sirika, Minister of Transportation, Mr Rotimi Ameachi, Minister of State Mines and Steel, Alhaji Abubakar Bawa Bwari, Minister of Mines and Steel, Dr Kayode Fayemi,Minister of Science and Technology, Dr Ogbonnya Onu and Minister of State Power Alhaji Mustapha Baba Shehuri as Acting President Yemi Osinbajo Presides over 4th FEC Meeting at the Council Chamber State House in Abuja. PHOTO; SUNDAY AGHAEZE.<\/figcaption><\/figure>\n<p>He added that national housing models had been designed and approved for each geo-political zone, with special recognition of cultural and climatic diversities in choice of house type and standardization in the use of local <a href=\"https:\/\/amazingproperty.com.ng\/blog\/discover-the-top-construction-materials\/\">building materials<\/a>.<\/p>\n<p>According to him, this will translate to affordability of housing for Nigerians and also create employment opportunities for teeming youths currently roaming the streets.<\/p>\n<p>While commending the effort of the apex mortgage bank, the Minister noted that it had a pivotal role to play in the actualization of the aspirations of many Nigerians to own a home through mortgage.<\/p>\n<p>He added that Muhammadu Buhari\u2019s administration would lend its full support to the Federal Mortgage Bank of Nigeria \u00a0 towards ensuring that it was adequately recapitalized and repositioned \u00a0 to cater for the mortgage finance needs of Nigerian workers, who would be the major beneficiaries of houses built under the National Housing Programme.<\/p>\n<p>Speaking earlier, the Acting Managing Director of Federal Mortgage Bank Nigeria, Mr. Richard Esin, called on Nigerians to contribute to the National Housing Fund, NHF.<\/p>\n<p>He urged states and investors to build estates \u00a0 in order to drive the aspirations of Nigerians to transit from being tenants to home owners.<\/p>\n<\/div>\n<p>[ad_2]<\/p>\n<p><a href=\"http:\/\/www.vanguardngr.com\/2017\/03\/fg-waives-10-payment-housing-mortgages-n5m\/\"> link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; ABUJA\u2014 As a demonstration of its commitment to provide affordable housing to Nigerians, especially the &hellip; <a title=\"FG waives 10% payment on housing mortgages below N5m\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/fg-waives-10-payment-housing-mortgages-n5m\/\"><span class=\"screen-reader-text\">FG waives 10% payment on housing mortgages below N5m<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":1606,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[132,12908,543,617,489,344,408,1032,312,522,1007,907,3053,15301],"class_list":["post-1605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-commission","tag-home","tag-home-buying-guide","tag-house","tag-houses","tag-housing","tag-mortgage","tag-mortgage-bank","tag-mortgages","tag-nigeria","tag-owners","tag-tenant","tag-tenants","tag-translate"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/Osinbajo-FEC3.png?fit=412%2C250&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3225,"url":"https:\/\/amazingproperty.com.ng\/blog\/housing-fg-provides-n500bn-resuscitate-fmbn-mortgage-facilities\/","url_meta":{"origin":1605,"position":0},"title":"Housing: FG provides N500bn to resuscitate FMBN for mortgage facilities","author":"Amazing Property","date":"April 14, 2017","format":false,"excerpt":"The Federal Government says it has provided N500 billion to resuscitate the Federal Mortgage Bank of Nigeria (FMBN) to make mortgage facilities easily available to Nigerians. Alhaji Mustapha Baba-Shehuri, Minister of State for Power, Works and Housing, announced this in Lafia on Monday when he called on the Nasarawa State\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Housing","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/Osinbajo-FEC3.png?fit=412%2C250&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1569,"url":"https:\/\/amazingproperty.com.ng\/blog\/fg-scraps-10-equity-contribution-on-housing-mortgage-within-n5m\/","url_meta":{"origin":1605,"position":1},"title":"FG Scraps 10% Equity Contribution on Housing Mortgage within N5m","author":"Amazing Property","date":"March 5, 2017","format":false,"excerpt":"\u00a0 Housing mortgage below N5 million will no longer attract the usual initial payment of 10 per cent equity from approved off-takers. \u00a0 The federal government has said that henceforth housing mortgage below N5 million will no longer attract the usual initial payment of 10 per cent equity from approved\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Housing Mortgage","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/Mass-Housing-Plan.jpg?fit=696%2C391&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/Mass-Housing-Plan.jpg?fit=696%2C391&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/Mass-Housing-Plan.jpg?fit=696%2C391&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":1201,"url":"https:\/\/amazingproperty.com.ng\/blog\/fg-working-towards-ensuring-every-nigerian-owns-house-in-3-years\/","url_meta":{"origin":1605,"position":2},"title":"\u2018FG working towards ensuring every Nigerian owns house in  3 years\u2019","author":"Amazing Property","date":"February 23, 2017","format":false,"excerpt":"[ad_1] By Demola Akinyemi ILORIN-Federal government on Thursday said it has concluded arrangements to ensure that every Nigerian owns house within the next three years by ensuring that it built 16-17 million units houses every year across the states of the federation for public and private workers . The Minister\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/Narawa-flood4.jpg?fit=412%2C250&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3280,"url":"https:\/\/amazingproperty.com.ng\/blog\/moves-to-tackle-affordable-housing-shortage-in-nigeria\/","url_meta":{"origin":1605,"position":3},"title":"Moves to tackle affordable housing shortage in Nigeria","author":"Amazing Property","date":"April 12, 2017","format":false,"excerpt":"In March the federal government announced it would waive an initial 10% payment on mortgages below N5m ($15,700) administered by the state-owned Federal Mortgage Bank of Nigeria (FMBN), targeting future homeowners taking out mortgages in the low-to-mid price range. In the face of a housing deficit that numbers millions of\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/mass-housing.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/mass-housing.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/mass-housing.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/mass-housing.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/mass-housing.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":1691,"url":"https:\/\/amazingproperty.com.ng\/blog\/minister-fgs-plan-for-workers-to-own-houses-in-nigeria-at-advanced-stage\/","url_meta":{"origin":1605,"position":4},"title":"Minister: FG\u2019s Plan for Workers to Own Houses in Nigeria at Advanced Stage","author":"Amazing Property","date":"March 9, 2017","format":false,"excerpt":"\u00a0 Minister of State for Power, Works and Housing, Mustapha Shehuri \u00a0 The federal government has said that its plan for public sector workers to own their own houses has now reached advanced stage. The Minister of State Power, Works and Housing, Alhaji \u00a0Mustapha Baba Shehuri, made this known in\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Houses in Nigeria","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/210316-Mustapha-Baba-Shehuri.jpg?fit=696%2C522&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/210316-Mustapha-Baba-Shehuri.jpg?fit=696%2C522&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/210316-Mustapha-Baba-Shehuri.jpg?fit=696%2C522&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":1882,"url":"https:\/\/amazingproperty.com.ng\/blog\/tuc-lauds-fg-10-housing-equity-waiver\/","url_meta":{"origin":1605,"position":5},"title":"TUC lauds FG on 10% housing equity waiver","author":"Amazing Property","date":"March 14, 2017","format":false,"excerpt":"\u00a0 The Trade Union Congress (TUC) has commended the Federal Government on waiver of the initial payment of 10 per cent housing equity on mortgages below N5 million from housing offtakers. Mr Bobboi Kaigama, TUC President gave the commendation on Monday in an interview with journalists \u00a0in Abuja. The Federal\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/1605","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=1605"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/1605\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/1606"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=1605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=1605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=1605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}