APDC MD Explains How FCT Residents Can Access Homes Through Mortgages
Olawale Ajimotokan in Abuja The Acting Managing Director of Abuja Property Development Company (APDC) Akeem Aderogba has shed light on how residents of the Federal Capital Territory (FCT), particularly civil
The Acting Managing Director of Abuja Property Development Company (APDC), Akeem Aderogba, explained during the 20th anniversary symposium of APDC in Abuja how residents of the Federal Capital Territory (FCT), especially civil servants and low- and middle-income earners, can benefit from mortgage facilities to acquire homes. Aderogba clarified that the process involves paying an initial deposit of between 10 and 20 percent of the house's cost, with the remaining balance financed through mortgage institutions.
This arrangement makes homeownership more accessible to residents who might not have the resources to pay for a house in one transaction. APDC has also collaborated with the Federal Mortgage Bank of Nigeria through the National Housing Fund (NHF) to provide civil servants with access to affordable housing, easing the financial burden faced by these individuals amid rising construction costs and inflation.
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