Why Consider getting a mortgage


Owning a home is more than hype; It is the gateway to long- and short-term financial success. In the long run you will build a nest of equity, and in the short run you will be able to take advantage of potential tax deductions and pay yourself instead of paying your landlord’s monthly rent. A Mortgage Makes Homeownership Affordable: Because you can spread your mortgage payments over many years, the amount you will pay monthly is more manageable and affordable! Traditionally, when people take out their first mortgage, they tend to choose a 25-year term.

Mortgage interest rates tend to be lower than any other form of loan because the loan is secured by your property. This means that the bank or building organization has a guarantee that if things go wrong and you cannot return it, there is still something of value – your property – to sell to pay for part, if not the entire mortgage.

Achieving homeownership made easy.

Mintvilla housing has partnered with KCB Ltd. to help you with house and plot financing of up to 90%. With this mortgaging you can buy a home without having the full price in cash. This means that you will still have money to make other investments and cater to your everyday needs.

  1. Security

When getting a mortgage, you also get yourself a Mortgage Protection Insurance (MPI) depending on the amount of mortgage, the age, and occupation of the buyer. This means that the bank bears the larger share in case of any risk to your homes such as sudden death or illness. And the best part of this MPI is that it runs the same period as the mortgage period.

  1. Affordability (Cheaper)

Paying for something you’ll eventually own is way cheaper than renting.

If you get a mortgage and pay consistently, the bank will view you as trustworthy. You will therefore be eligible to get another loan with lower interest and make another investment.

  1. Longer repayment periods  

KCB bank gives you up to 25 years of repayment depending on your various factors such as age, occupation, etc.

  1. Non-resident Kenyans are eligible

KCB gives home loans to Kenyans living outside the country. They can buy a house as an investment or a place to stay. And there is a choice of currency either cash or Kenyan shillings.

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