Civil Servants to Own Homes at Single-Digit Rate as FG Unveils Mortgage Plan
Ministry of Finance Incorporated (MOFI), the investment arm of the federal government; Family Homes Funds Limited (FHFL); and ARM Investment Managers on Monday unveiled plans to ease mortgage terms for federal civil servants using the MOFI Real Estate Investment Fund (MREIF) window.
Under the arrangement, civil servants are to secure mortgage facilities for home ownership below 10 per cent interest rate. This is aimed at continuously improving the terms for accessing mortgages under the MREIF for federal civil servants.
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