What Is the FMBN Rent-to-Own Scheme?

The FMBN rent-to-own scheme is a government-backed initiative aimed at making housing affordable and accessible to Nigerians. Under this program, tenants gradually pay for their homes through affordable monthly installments while living in them. At the end of the payment period, ownership is transferred to the buyer.

This program targets public and private sector employees registered under the National Housing Fund (NHF) and prioritizes affordability, transparency, and ease of ownership.

Why Choose FMBN Rent-to-Own in Abuja?

1. Affordability: The houses are priced to accommodate low and middle-income earners, with no hidden costs.
2. Flexible Payment: Spread payments over 10 to 30 years, depending on your financial capability.
3. Prime Locations: The scheme offers homes in strategic parts of Abuja with access to essential services and amenities.

Price List for FMBN Rent-to-Own Houses in Abuja (2024)

The price of FMBN rent-to-own houses depends on the property type and size. Here’s an overview of the price categories:

• 1-Bedroom Apartment: Starting from ₦5.5 million
• 2-Bedroom Apartment: Starting from ₦8.7 million
• 3-Bedroom Apartment: Starting from ₦12 million

The above prices are subject to slight variations depending on the location and housing estate. Monthly installment payments are calculated based on the agreed tenure and interest rates, ensuring affordability for participants.

How to Apply for the FMBN Rent-to-Own Scheme

Applying for this scheme is straightforward if you follow these steps:

1. Meet Eligibility Requirements

• Be an employee in the public or private sector registered under the NHF.
• Have a consistent record of NHF contributions for at least six months.
• Be able to provide proof of employment and income.

2. Choose a Property

• Visit the FMBN website or designated housing estate offices to view available houses in Abuja.
• Select a property that fits your needs and budget.

3. Submit Your Application

• Complete the application form online or at any FMBN office.
• Provide required documents, including proof of NHF contributions, employment letter, and identification.
• Indicate your preferred payment plan (10-30 years).

4. Sign Agreement and Move In

• Upon approval, sign the rent-to-own agreement, move into your new home, and start monthly payments.

Tips for a Successful Application

• Ensure NHF Contributions Are Up to Date: Missing contributions can disqualify your application.
• Choose Affordable Options: Stick to homes within your financial means to avoid payment defaults.
• Apply Early: Properties are limited and often on a first-come, first-served basis.

By taking advantage of the FMBN rent-to-own scheme, you can turn your dream of owning a home in Abuja into reality. With flexible payments, affordable prices, and a straightforward process, this is an excellent opportunity for many Nigerians. Start your journey today!