The Federal Mortgage Bank of Nigeria has launched a National Housing Fund Diaspora Mortgage Loan that allows eligible Nigerians living abroad to apply for up to ₦100 million in housing finance.
The product was unveiled in London on August 7, 2026, as an institutional route for Nigerians overseas to buy homes in Nigeria while completing registration and verification remotely.
Key terms of the diaspora mortgage
According to FMBN, eligible applicants can register under the NHF Scheme, complete know-your-customer requirements digitally, make contributions from abroad and apply without travelling to Nigeria.
- Maximum financing: up to ₦100 million
- Interest rate: 9 per cent per year
- Maximum repayment period: 10 years
- Access: subject to affordability checks and applicable requirements
The bank said the product was designed in response to longstanding problems faced by Nigerians abroad, including property fraud, abandoned projects, unreliable intermediaries and limited access to structured mortgage finance.
Why the scheme matters
A formal mortgage channel could reduce dependence on unverified agents and informal payment arrangements. It may also allow buyers to spread the cost of a home rather than paying the full price upfront.
FMBN said the initiative could support housing construction, developers, job creation, foreign-exchange inflows and deeper mortgage participation.
What applicants should verify before committing
The headline loan amount is not automatic. Approval depends on income, affordability, contribution history, identity checks, property eligibility and other lending requirements.
Prospective applicants should obtain the complete product guide directly from FMBN, confirm all fees and insurance costs, calculate the total repayment over the full tenor and verify the title and valuation of any property independently.
Buyers should not transfer funds to an agent or unofficial account claiming to guarantee access. Applications and payments should be made only through channels confirmed by FMBN.
Sources: Federal Mortgage Bank of Nigeria; The Guardian Nigeria.
This article is general information and does not constitute mortgage, legal or investment advice.