Financing

Have you ever dreamed of having your own home in Kenya? Well, now might be the perfect time to consider it! Getting a mortgage, also known as a home loan, can help you turn that dream into a reality. In this article, we'll talk about some excellent reasons why you should think about applying for a mortgage in Kenya. 1.Favorable Interest Rates First and foremost, right now, the interest rates for...

or Financing has remained to be the major challenge for potential homeowners however this could change.Apart from the common cash method, there are various ways you can finance your home. These include  the following; Bank financing Bank financing is the most common type of financing for a house. In Kenya, different banks lend money to potential homebuyers. However, the percentage rate varies from...

A credit score is a number accredited to you based on your financial habits. Lenders look at it before loaning you to gauge your probability of paying back. A good credit score A Credit score ranges from 850 to 300.700 is considered a good credit score while 800, is an excellent credit score. A higher credit score increases your chances of not only getting a loan but also a better interest...

  Inflation is the increase in prices or the increase in the cost of living in a country. The inflation rate in Kenya has been alarming, From 5.1% in February to 7.9% in June 2022. For 2022, projections indicated annual average inflation at five percent in Kenya, above the rate projected in other African countries. This is partly affected by the war in Ukraine and the ongoing COVID 19...

  The following is a list of top institutions in the country that offers mortgages;  KCB Bank You can borrow from KES 100 million with up to 90% for owner-occupier,80% for income-generating properties, and 70% for plot purchase. The interest rate is 13.3%. ABSA Bank of Kenya Financing up to 90% financing with a repayment period of up to 25years Stanbic Bank Up to 105% finance...

With all of the excitement surrounding the purchase of a home, it's easy to become preoccupied with the purchase price and overlook potential additional costs. These extra charges are popularly referred to as closing costs. Stamp duty, legal fees, registration fees, consent of transfer, valuation costs, and deed search are among them. Stamp duty This is the tax applied on legal property documents...

Do you intend to apply for a mortgage loan? Have you ever wondered what financiers look for when determining illegibility? You are about to learn four key areas financiers evaluate for your illegibility.  They are listed below. The debt-to-income ratio DTI, according to CRB Kenya, is the amount of debt you pay each month in relation to your monthly income....

Do you know that it will only take you 10 years to attain financial freedom if you start now? Fascinating as it may sound here is how you get started; Budgeting and tracking your finances. You should be aware of where all of your money goes. Tracking is as simple as writing down your daily expenses and analyzing them at the end of the month. Budget once you've defined where your money goes. You...

  Budgeting is the process of planning how you spend your money. It is merely a comparison of how much you bring in and your expected expenses monthly or quarterly or yearly. A budget is important because it helps you determine your spending plan and in turn, shows you where you should limit your spending and what you can afford to spend more money on. There are three ways you can budget:...

You’ve just found your dream and plans are underway to move in, but there’s one problem, however. The moving service looks set to cost you an arm and a leg hence immediately killing the enthusiasm that comes with moving into a new home. As much as hiring a moving company comes a long way in easing all the logistics, it can sometimes prove to be a difficult affair pocket wise. Here are a few tips to...