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CategoriesFinancing Mint Villa Housing

 

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 of properties below Kes. 20M and up to 100% finance for construction of single residential houses below Kes. 20M.The payment period of up to 20 years

Standard chartered bank

You can borrow up to KES 100 million, with up to 100% financing and a long tenor of up to 25 years. The interest rate is 12.2%.

NCBA

It offers Up to 105% Financing of property value or market price. The maximum term of up to 25 years. NCBA mortgage loans are offered in Kenya in Shillings, Dollars, Pounds, and Euros.

EQUITY 

The loan amount is based on the customer’s ability to pay. The loan period is up to 180 months (15 years) and the  financing Margin – up to 100% financing.

HF Group

It offers up to 90% financing of the property value with an interest rate of 13%. The maximum repayment period is 20 years.

Citibank Kenya

Citibank offers fixed and adjustable-rate mortgages. The annual interest is 12.5%.

Gulf bank 

Gulf bank provides home financing solutions for property in any major city or town with flexible financing and repayment plans. It’s based on the Diminishing Musharaka Sharia’h Agreement. The repayment tenure is up to 20 years.

Bottom line

Consider your budget and long-term financial goals when determining the best terms for you. A longer payment period may appear appealing, but keep in mind that the interest rate will be higher than on short-term loans. It is important to note that the amount offered by banks does not include stamp duty, legal fees, negotiation fees, valuation fees, or insurance fees.

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