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Abuja, Nigeria – Recently, a significant meeting was held between Family Homes Funds Limited (FHFL) and the African Development Bank (AfDB) on the Help to Own (HTO) program that will increase home ownership opportunity for thousands of low to middle income families across Nigeria.
Conversations in the meeting focused on topical elements of the partnership including the drawdown modalities for the approved funding from AfDB for the program. The HTO Fund is a pioneering Home Loans Assistance program designed to address housing needs from the demand side for the benefit of everyday Nigerians.
The FHFL delegation, led by Managing Director, Mr. Abdul Mutallab Mukhtar, was received by the Director General of the AfDB, Nigeria Country Department, Mr. Lamin Barrow at the Nigeria office. Both parties expressed enthusiasm about the potential impact of the Help to Own program in providing affordable housing solutions and supporting socio-economic development in Nigeria. The Help to Own (HTO) Fund is a transformative Home Loans Assistance program targeting Nigerians on low to middle income. It offers a unique opportunity for eligible beneficiaries to access a low-cost, deferred equity loan, covering up to 40% of the cost of their home. By providing this assistance, the burden of mortgage repayment on qualified individuals will be reduced by 50%, making homeownership more attainable.
This collaboration highlights the importance of strategic partnerships in driving socio-economic development and creating a positive impact on individuals and communities across the nation.
As of today, Family Homes Funds Limited (FHFL) has facilitated the provision of over 14,000 affordable homes across Nigeria through partnerships with state governments and private developers. The Help to Own program will further increase the affordability of these homes for families and individuals with modest income with life-long dream of homeownership. This holistic approach to addressing the housing crisis demonstrates FHFL's dedication to making affordable housing accessible to all.
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