If you want to own a home in Kenya, Mortgage is the best option you have especially when you don’t have enough money to pay for your preferred home. Kenya Mortgage Refinance Company is among the leading mortgage providers. Below are the requirements for taking a mortgage from them:

Eligible Property The property must be a residential unit for owner occupation
  or occupation by immediate relatives of the owner
Eligible Loans Purchase of a new or existing residential property
Eligible Borrowers Kenyan Citizens: Salaried and self-employed with verifiable income
Term Up to 25 years
Interest rate Fixed for the tenor of the loan
Currency KES
Mortgage Loan Limit  
  Up to Kes. 8 Million
Loan to Value Ratio Up to 105% maybe considered where the PML has adequate
(LTV) safeguards of insurance (Collateral replacement indemnity) and or
cash cover margins
Payment to Income up to 2/3 of Net Income (Where applicable)
Delinquency All loans submitted for refinancing must be current, without
Property valuation Property financed to be valued as per standards established
  by KMRC
Tenure of Property Minimum unexpired lease term of 40 years
Title Good legal title free from encumbrances
Insurance 100% of appraised value or reinstatement cost
Life Insurance Required for outstanding balance of home loan
Over-collaterization The nominal value of pledged home loans will exceed the
  aggregate outstanding balance of the loans to the financial
  institution by 120 %

Contact details

+254 111 022 400




27th Floor, Old Mutual Tower, Upperhill Road, Upperhill, Nairobi.

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February 8, 2024

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