Affordable Housing Fund

We provide construction financing facility for private and public sector developers promoting good quality homes targeted at people on low income.

The Family Homes Funds aims to support the development of up to 500,000 Homes targetted at people on low income over the next 5 years. Towards achievement of this goal, we will work in partnership with public and private sector developers by providing competitively priced direct financing – both debt or equity for projects which meet our strategic objectives.

We can provide financial support (debt or equity) for :

  • Development of new homes substantially targeting people on low income
  • Infrastructure provision/Site and Service Schemes
  • Neighbourhood and housing improvements

Who is Eligible for Financing? We operate an open and transparent approach to selecting partners we work with.Our potential partners will be either public or private sector corporates including co-operatives with credible track record of building homes.Although,we are unable to provide financing for individuals, all partners will usually be required to meet the following eligibility requirements:

  1. Be registered with the Corporate Affairs Commission to carry on housing development and related business or in the case of public sector borrowers,possess appropriate authorisation and or approval to enter into a loan agreement
  2. Have previous experience of or demonstrate ability or access to capacity required to execute a housing development project of the nature and scale being contemplated
  3. Have and show proof of own financial capacity to meet project costs not covered by FHFL financing particularly pre-development, pre-sale and statutory approval costs
  4. If required, have project land which meet FHFL Site Selection Criteria and is transferrable to FHFL simultaneously on completion of a Loan Agreement;
  5. Where necessary, have evidence of compliance with relevant statutory requirements including tax returns;
  6. Meet FHFL Know your Customer (KYC) requirements.

We are especially keen to work with partners with innovative solutions to meeting the housing needs of Nigerians on low income. This includes development projects which create high quality living environments and places where people are proud to live.We are also committed to ensuring that our investment in housing project have measurable development impact–particularly creation of new jobs.

What costs do we Finance? Only the following project costs are eligible for financing from FHFL:

  • Building Construction works
  • Associated Infrastructure including Estate Roads,Water,Sewage and Power
  • External Works and Landscaping
  • Sales and Marketing Costs

FHFL will not generally provide finance for land acquisition and associated costs or third party professional fees.

How much does FHFL Financing Cost? FHFL aims to provide financing which are priced to match our objective of providing homes which are affordable to people on low income. Pricing is determined from time to time and comprises of three elements:A base rate which related to our cost of funds,administrative spread and a risk margin.For guidance only,we expect to keep our pricing below 10% pa.

How long does it take to process a request for financing Subject to adequate information being provided to us? we expect to complete processing of requests for financial support within 30 working days.

Code of Conduct FHFL staff and other persons involved in the review of requests for financing including our consultants, agents etc are required to comply with the highest ethical standards and in particular avoid any conflict of interest whether perceived, actual or potential.

In this regard,FHFL directors,staff,consultants/agents or their families or business associates are not permitted to have financial interests in a project under consideration for financial assistance;

Our staff are not allowed accept and must not be offered gifts, entertainment or travel that might directly or indirectly influence their business judgments or decisions,or that might give the appearance of impropriety.

For further information and guidance on how to access financing from FHFL and the key terms, please see our publication : GUIDELINES FOR MAKING A REQUEST FOR LOAN ASSISTANCE here or email:

The Chief Investment Officer Family Homes Funds 18 Mississippi Street Maitama, Abuja Email : info@fhfl.com.ng