Enricher Fintech

Rent-To-Own Housing Scheme

The Enricher Rent-To-Own Housing Scheme is a brand new concept in home ownership. With our help, you can own your very own home, and pay for it in installments long as 30 years!

Click HERE to APPLY

FREQUENTLY ASKED QUESTIONS (FAQ)

The RENT TO OWN scheme is an initiative of the FEDERAL MORTGAGE BANK OF NIGERIA. Prior to this
time. Individuals are provided with funds to facilitate completion of their different building projects as
mortgage or given funds to out rightly purchase properties of their Choice but with the new Rent to
Own Scheme these properties are built already developed by different developers in different locations
but for now the only location we are receiving applications for is Abuja.

ALL YOU NEED TO KNOW ABOUT THE ONGOING RENT TO OWN SCHEME

1. Is there percentage payable before deductions starts, how much and is the payment for rent different from the payment to own the house or is it a direct rent to purchase the house?

It is a direct rent to purchase the house that is why it is called Rent to Own. You pay in monthly
installments. There’s no percentage required to be paid before deduction starts except for the processing fee.

2. Where are the locations for the Estates in ABUJA?

1.Bungalow City Dei Dei
2. Sioni Estate Kurudu

3. What are the prices for the houses?

For Bungalow City, Kubwa Expressway
2 Bedroom Bungalow terrace is 12.5million
3 Bedroom Bungalow terrace 13.5million

For Sioni Estate Kurudu
2 Bedroom Bungalow Terrace is N10.750 Million
3 Bedroom Bungalow Semi Detached is 13 Million
3 Bedroom Bungalow Fully Detached is 14 Million

4. What are the mandatory initial payments and subsequent repayment plans for the houses?

Application fee of N10,000 payable upon submission of application and a 3% of the cost of the
building is the processing fee which is 375,000 and N405,000 for the 2 bedroom and 3bedroom
bungalow respectively payable upon submission of application as well. Payment for the house is
monthly to be deducted at source. Also note there’s a 7% annual rental charge on the total cost of the
building on a reducing balance.

5. What is the Processing Fee for?

This will cover insurance, PR and other administrative service fee

6. How can I pay for my application or Processing Fee?

The processing fee and Application fee is payable to the account details provided below

Account name: Enricher Capital and Trust LTD
Account number: 0024867846
Bank: SunTrust Bank.

7. Is there any arrangement for viewing and visit to the houses before the sealing of the agreement and subsequent payment?

Yes

Click HERE to APPLY

8. How long do I have to pay?

Members have a maximum of 30yrs to pay for the housing scheme.

9. How much would I be paying monthly?

To determine your monthly contribution, subtract your current age from 60 years (retirement age).
This gives you duration of year to pay for the housing scheme. The contribution is paid on a monthly
basis. Then multiply the numbers of years by 12. The answer it gives should be divided by either
12,500,000 or 13,500,000. Depending on your choice of house.
For instance Jibola is 32yrs old and applying for a 2 bedroom bungalow going for 12,500,000. How much
will Jibola pay on a monthly basis as contribution for the scheme.
(60-32)= 28yrs
(28*12) = 336 months.
(12,500,000 ÷ 336) = 37,202.
This means the minimum amount Jibola can be contributing monthly for the housing scheme is 37,202
for the next 28years.

10. I have a short time left in service what can I do?

If you have a short time left before retirement and you think you might not be be able to pay off
then you can apply for your kids or a relative while using your own vital documents such as the bank
statement to process it

11. Is it possible to have the area view and multiple pictures of types of the houses both exterior and interior views?

Check our website at www.theenricher.org or the Federal Mortgage Bank website

12. Can someone that is resident in Lagos apply for the Abuja home?

Yes, anyone outside Abuja and in Diaspora can apply. As soon as it is available in other states you
will be inform. Check our website from time to time.

13. Can I sell or rent the property out?

A member can rent/sell the property only after full payment has been made and papers of the
house have been issued to the member

14. Can someone apply for more than one house at a time?

Yes, but you may need to use either your next of kin, partner, your kids or any other person but
not yourself.

15. What are the kinds of infrastructural projects available or will be provided at the estate?

They include the following;
Roads, Electricity, Drainage, Playground & sports centre and Street lights, supermarkets, bank, Police
station, Plaza, Hospitals, Religious Houses etc

16. How do I know if I’m qualified?

You are qualified when you pass the affordability test.
The affordability test is carried out after you submit your Application

17. Can I make an outright purchase?

Yes, you can make an outright purchase. A member can pay one-off for the house, a member can
also pay lump sum as monthly contribution for the housing scheme to ensure quick payment for the
house provided they have the capacity

18. Would I still pay the rental charge?

No,

Click HERE to APPLY

According to Brains and Hammer the houses will be semifinished in the sense that all exterior design
will be carried out by the developer but the interior design will be left alone to enable individuals to
design to their taste

19. What is the probability of my application being approved?

We have over 95% certainty in getting you approval. And in a case of disapproval which we haven’t
had, there’s a refund policy. However, you pay us 10% of the the refunded amount amount to cover
for our admin charges.

20. What documents are required?

1. Stamped Bank Statement ( For the last 6months)2. Letter of Appointment
3. Confirmation of Appointment
4. A Valid means of Identification
5. BVN printout which shows your picture
6. Office ID
7. NHF Biodata( For non civil servants it will be processed)
8. Pay slips for the past 3 months
9. Evidence of additional source of income if available

21. How do I apply?

Apply by visiting our website www.theenricher.org or call 09081513838 or 08136464742 for
application form or pickup your form at our office address Crest Plaza, FCMB Building 2nd Floor 1st
Avenue Gwarinpa, Abuja.

Sioni Estate located at Adjacent Army Post Service Scheme Phase 5, Kurudu.

Enricher Fintech

Rent-To-Own Housing Scheme

The Enricher Rent-To-Own Housing Scheme is a brand new concept in home ownership. With our help, you can own your very own home, and pay for it in installments long as 30 years!

Click HERE to APPLY

FREQUENTLY ASKED QUESTIONS (FAQ)

The RENT TO OWN scheme is an initiative of the FEDERAL MORTGAGE BANK OF NIGERIA. Prior to this
time. Individuals are provided with funds to facilitate completion of their different building projects as
mortgage or given funds to out rightly purchase properties of their Choice but with the new Rent to
Own Scheme these properties are built already developed by different developers in different locations
but for now the only location we are receiving applications for is Abuja.

ALL YOU NEED TO KNOW ABOUT THE ONGOING RENT TO OWN SCHEME

1. Is there percentage payable before deductions starts, how much and is the payment for rent different from the payment to own the house or is it a direct rent to purchase the house?

It is a direct rent to purchase the house that is why it is called Rent to Own. You pay in monthly
installments. There’s no percentage required to be paid before deduction starts except for the processing fee.

2. Where are the locations for the Estates in ABUJA?

1.Bungalow City Dei Dei
2. Sioni Estate Kurudu

3. What are the prices for the houses?

For Bungalow City, Kubwa Expressway
2 Bedroom Bungalow terrace is 12.5million
3 Bedroom Bungalow terrace 13.5million

For Sioni Estate Kurudu
2 Bedroom Bungalow Terrace is N10.750 Million
3 Bedroom Bungalow Semi Detached is 13 Million
3 Bedroom Bungalow Fully Detached is 14 Million

4. What are the mandatory initial payments and subsequent repayment plans for the houses?

Application fee of N10,000 payable upon submission of application and a 3% of the cost of the
building is the processing fee which is 375,000 and N405,000 for the 2 bedroom and 3bedroom
bungalow respectively payable upon submission of application as well. Payment for the house is
monthly to be deducted at source. Also note there’s a 7% annual rental charge on the total cost of the
building on a reducing balance.

5. What is the Processing Fee for?

This will cover insurance, PR and other administrative service fee

6. How can I pay for my application or Processing Fee?

The processing fee and Application fee is payable to the account details provided below

Account name: Enricher Capital and Trust LTD
Account number: 0024867846
Bank: SunTrust Bank.

7. Is there any arrangement for viewing and visit to the houses before the sealing of the agreement and subsequent payment?

Yes

Click HERE to APPLY

 

8. How long do I have to pay?

Members have a maximum of 30yrs to pay for the housing scheme.

9. How much would I be paying monthly?

To determine your monthly contribution, subtract your current age from 60 years (retirement age).
This gives you duration of year to pay for the housing scheme. The contribution is paid on a monthly
basis. Then multiply the numbers of years by 12. The answer it gives should be divided by either
12,500,000 or 13,500,000. Depending on your choice of house.
For instance Jibola is 32yrs old and applying for a 2 bedroom bungalow going for 12,500,000. How much
will Jibola pay on a monthly basis as contribution for the scheme.
(60-32)= 28yrs
(28*12) = 336 months.
(12,500,000 ÷ 336) = 37,202.
This means the minimum amount Jibola can be contributing monthly for the housing scheme is 37,202
for the next 28years.

10. I have a short time left in service what can I do?

If you have a short time left before retirement and you think you might not be be able to pay off
then you can apply for your kids or a relative while using your own vital documents such as the bank
statement to process it

11. Is it possible to have the area view and multiple pictures of types of the houses both exterior and interior views?

Check our website at www.theenricher.org or the Federal Mortgage Bank website

12. Can someone that is resident in Lagos apply for the Abuja home?

Yes, anyone outside Abuja and in Diaspora can apply. As soon as it is available in other states you
will be inform. Check our website from time to time.

13. Can I sell or rent the property out?

A member can rent/sell the property only after full payment has been made and papers of the
house have been issued to the member

14. Can someone apply for more than one house at a time?

Yes, but you may need to use either your next of kin, partner, your kids or any other person but
not yourself.

15. What are the kinds of infrastructural projects available or will be provided at the estate?

They include the following;
Roads, Electricity, Drainage, Playground & sports centre and Street lights, supermarkets, bank, Police
station, Plaza, Hospitals, Religious Houses etc

16. How do I know if I’m qualified?

You are qualified when you pass the affordability test.
The affordability test is carried out after you submit your Application

17. Can I make an outright purchase?

Yes, you can make an outright purchase. A member can pay one-off for the house, a member can
also pay lump sum as monthly contribution for the housing scheme to ensure quick payment for the
house provided they have the capacity

18. Would I still pay the rental charge?

No,

Click HERE to APPLY

 

According to Brains and Hammer the houses will be semifinished in the sense that all exterior design
will be carried out by the developer but the interior design will be left alone to enable individuals to
design to their taste

19. What is the probability of my application being approved?

We have over 95% certainty in getting you approval. And in a case of disapproval which we haven’t
had, there’s a refund policy. However, you pay us 10% of the the refunded amount amount to cover
for our admin charges.

20. What documents are required?

1. Stamped Bank Statement ( For the last 6months)2. Letter of Appointment
3. Confirmation of Appointment
4. A Valid means of Identification
5. BVN printout which shows your picture
6. Office ID
7. NHF Biodata( For non civil servants it will be processed)
8. Pay slips for the past 3 months
9. Evidence of additional source of income if available

21. How do I apply?

Apply by visiting our website www.theenricher.org or call 09081513838 or 08136464742 for
application form or pickup your form at our office address Crest Plaza, FCMB Building 2nd Floor 1st
Avenue Gwarinpa, Abuja.

Bungalow City located at Kubwa Expressway, Abuja.