List of Saccos offering mortgages in Kenya


There are Saccos in Kenya which offer mortgages. Sacco loans are always cheaper than bank loans.Their interests are lower,they also have flexible repayment terms.

Here is a list of Saccos in Kenya with mortgages:

—-Finnlemm Sacco

Home Loan

The key requirements are as follows:

  • Maximum loan amount is Kshs 20 Million.
  • The Loan shall be fully secured by either or both of the value of the member’s property and/or savings with Finnlemm. A legal charge shall be levied over the title of the property. The value of the property and/or shares must be equal to or more than the total loan applied
  • An interest rate of 1.125%p.m calculated on reducing balance will be charged and may vary from time to time in line with changes within Finnlemm Sacco

Society’s loaning policy.:-

  • The applicant will have to demonstrate an ability to repay the loan (pay slip and business income)
  • The Loan will be payable within a period of 120 months (10 years).

—–Stima Sacco


This is a mortgage loan product under the Kenya Mortgage Refinance Company (KMRC) refinancing program. The KMRC Mortgage loan will enable Stima Sacco Members to buy a residential house or purchase land for construction at competitive rates

Security for the property is the title for the property being bought or under construction. An additional tangible security may be required where the property is not sufficient to cover the loan.
Product Benefits
• Enable members access funds at competitive rates.
• Flexible security requirements

The mortgage facility is available to
1. Individuals in permanent employment or on contract.
2. Individuals in Business or those who have rental income.



• Must be a member of Stima Sacco.
• Must be salaried.
• Must have made uninterrupted 6 months regular contributions prior to application date.
• Must have ability to pay. (Loan repayment not exceeding 2/3 of their basic pay)
• Within the retirement age 
• Applicant should have been in work/employment for at least 12 months and in current employment for at least 6 months.
• First time homeowners only

Product Feature

• Interest rate: 9%
• Method of calculation: Reducing Balance.
• Loan insurance fund and seed loan: 1.5%
• No bridging of other loans.

•Disbursement can be done in tranches for a maximum period of 6 months for construction loans.
• No grace periods.
• Loan Tenor: Up to 25 Years (Subject to remaining contract period).
• Mode of Repayment:
       • Check off.
       • Direct Debit- Frequency of repayment: Monthly.
• Mode of Loan Disbursement:Direct credit to Prime Account.
• Loan Amount: max. Kes 4 Million.
• Deposit. Minimum alpha deposits of Kes 200,000/= and minimum shares of Kes 25,000/=
• Contractual monthly deposit: Kes 1,000/=
• Property insurance cover- To be done annually by M-Pawa Insurance Agency.



• Must be a member of Stima Sacco.
• Must be in business or have rental income.
• Must have made uninterrupted 12 months regular contributions prior to application date.
• Must have ability to pay.
• Maximum age of 60 Years
• Applicant should have been in business for more than 3 years.

Product Features

• Interest rate: 9.5%
• Method of calculation: Reducing Balance.
• Loan Insurance fund and seed loan: 1.5%
• No bridging of other loans.
• Disbursement can be done in tranches for a maximum period of 6 months for construction loans.
• No grace periods.
• Loan Tenor: Up to 20 Years. Mode of Repayment:
• Internal Standing Order from prime account.
• Direct Debit.
• Frequency of repayment: Monthly
• Mode of Loan. Disbursement:Direct credit to PrimeAccount.
• Loan Amount: max. Kes 4 Million
• Deposit: Minimum alpha deposits of Kes 400,000/= and minimum shares capital of Kes 25,000/=
• Contractual monthly deposit: Kes 1,000/=
• Property insurance cover- To be done annually by M-Pawa Insurance Agency

—-AMREF Sacco

Miliki Mortgage Financing Loan

The Miliki Mortgage Loan from AMREF SACCO seeks to help you achieve your dreams of homeownership or property investment with a range of flexible financing options. Whether you’re planning to construct a residential or commercial property, purchase a ready-built house, or take over existing mortgages, we are here to support your journey every step of the way.

Loan Features:

  • Multiplier: Up to 4 times your deposits
  • Repayment Period: 10 years (120 months)
  • Maximum Loan Amount: No maximum limit, determined by a multiplier of 4 times your deposits
  • Interest Rate: 1.25% per month on reducing balance
  • Security: The property itself (joint ownership until the loan is repaid in full) and/or guarantors
  • Note: Financing does not cover third-party fees.

External Lumpsum Deposits Waiting Periods

  1. Loan Eligibility Confirmation- Confirm your ability to repay by presenting to the Loans department your payslip and/or your 6-months bank statement.
  2. Identifying the House – Member to identify a house within his/her budget as guided by the deposit multiplier (4 times of deposits less other existing loans) and ability to repay (no. 1 above).
  3. Member obtains Offer letter or Sale Agreement from the seller.
  4. Loan application – Member applies for a loan by submitting the following documents to the Sacco office for Assessment:
    a) Loan application form
    b) Sale agreement
    c) Copy of the lease document. Lease period not less than 50 years.
    d) ID copy
    e) KRA pin copy
    f) Payslip (2 months) or Bank statement (6 months)
  5. Valuation – Member to select a valuer from the approved AMREF SACCO panel of valuers. Member is to negotiate valuation charges with the valuer. AMREF SACCO will issue instructions to the valuer chosen by the member to conduct the valuation and submit the valuation report to AMREF SACCO. The Sacco shall finance an amount not exceeding the valuation amount.
  6. Security perfection/ Charging process – This is done by AMREF SACCO’s lawyer once the loan is approved. It involves transferring ownership from the seller to the joint ownership of the buyer and AMREF SACCO. A letter of the undertaking will be issued to the seller of the property for the release of the original certificate of title, transfers, and other relevant documents.
    This legal process will take approximately 90 days (3 months) with the following charges incurred by the member:
    • Lawyer fee (as negotiated by the member with the lawyer)
    • Stamp duty
  7. Domestic insurance cover/ Mortgage protection payment-This figure is computed based on the Insurance Value indicated on the valuation report.
  8. Loan disbursement: – Once the securitization process is completed, AMREF SACCO will disburse the loan as per the details in the sale Agreement.

External lumpsum deposits waiting periods

A member who wishes to top up a lump sum amount to their member deposits  account with the intention of borrowing a loan will be subject to the following waiting periods:

500,000 and belowZero waiting period
500,001 to 2 Million30 days
Above 2 Million60 days

—–Safaricom Sacco

Ustawi & Faraji Ready Home Mortgage

This product is intended to empower members undertake development projects for ready houses with long-term benefits

  • Maximum loan to be issued at 4 times of the member’s annual gross salary.
  • Loan issued at 10 times of the members savings.
  • Interest charged at 12% p.a. on reducing balance (Ustawi) – Faraji interests ready home 8% p.a apply.
  • Loan repayment period is 20 years (subject to retirement age & the terms of Employment)
  • Loan Recovery will be via checkoff.
  • The loan security will be a title deed/Lease.
  • Minimum value Kes.1.5M
  • Maximum value Kes.20M
  • Financing available at 100% of Mortgage value.
  • Mortgage buy-off available.
  • Refinancing other loans shall not be allowed.
  • Processing fee of 0.5%
  • SLA within 90 days.
  • All related fees shall be included on the application and the member’s deposits used as security for the same (the respective deposits will then be held in lien)
  • The offer shall only be available for ready houses.
  • A member must have saved with the Sacco for 6 months to qualify for the facility.

—–KUSCCO Sacco

Mortgage Division

Individual/Joint Mortgage

A product for individuals, joint membership and Kenyans in the diaspora

a) Outright House purchase mortgage;

This is a mortgage facility for outright purchase of a house for either Owner occupier or commercial purposes

b) Construction Mortgage;

A mortgage facility advanced to a member who has a plot and would wish to construct either residential house or a commercial house.

c) Plot purchase mortgage;

This loan helps to satisfy the aspirations of many Kenyans by providing access to funds that will contribute towards the purchase of a plot.

d) Equity release;

A loan product that targets individuals with existing houses/homes or property. With this, one is able to apply for financing using the existing security. The equity that is then charged to KUSCCO Housing; money is lent on the value of the equity

e) Plot buying and construction

A loan to an individual who intends to buy a plot and construct at the same time.

f)     House completion and renovation


Loan purposeSavings multiplierMax loan repayment periodInterest rate
Plot Buying4512%
Owner occupier house51512.5%
Commercial houses41512.5%

All loans paid in 5 years, are at 12% p.a and loans above 5 years are at 12.5% p.a, on reducing balance

Corporate Mortgage

Loan purpose for corporates

  • Land buying for sub-division to members;

– Plot buying ;

  • Outright purchase of office blocks;
  • Construction funding, both for own use or commercial property;
  • Equity release funding;
  • Develop gated community housing projects for group members

Savings multipliers – 4 times

Loan repayment period – Maximum of 10 years

Loan security:

  • Title deed/ lease certificates
  • Member savings

Grace period : 1 month for outright purchase of a house or plot loans and 3 months on construction loans on both principal and interest

Jumuia Mortgage

A product for Individuals who are members and wish to undertake a common
project.Either buy plot and/or construct house that will fit all member

Incremental House Construction

KHC finance members to construct homes incrementally; from the house a member needs today to a house a member wants progressively

Cyclic Mortgage

A product that offers customer convenience of repaying their mortgages in pre-agreed cycles (Bi-monthly, quarterly, semi-annually) that correspond to their income receipts

Product is suited for those in the informal sector whose income flow is varied

Construction Services

KHC offer construction service to members who take construction mortgage. The service is available for all categories of membership

—–Kenya Police Sacco

Home Loan

Loan General Terms

  1. Interest Rate – 9% P.A.
  2. Repayment period – 20 years.
  3. Loan processing fee – Kes.1,000.
  4. Loan maximum amount – 8 Million

For Construction Home Loans

  1. Approved building Plans.
  2. Approved Structural drawings.
  3. Priced Bill of Quantities.
  4. Profiles for the Architect, Contractor and Quantity Surveyor.
  5. Valuation Report-To be done after the borrower has agreed to apply for the home loan.
  6. Copy of title to property being purchased/charged.

For House Purchase Loans

  1. Sale Agreement duly signed by both parties and witnessed by a lawyer or offer for sale.
  2. Valuation Report-To be done after the borrower has agreed to apply for the home loan.
  3. Copy of title to property being purchased/charged.

External Home Loan Costs to be met by borrower

Legal fees-SACCO to provide a panel of lawyers.

Stamp duty(4% urban&2% rural)-For house purchase cases only.

Valuation fees-Kes.20,000 for land within Nairobi and its environs, Kes.25,000 outside Nairobi. For cases where the land has developments, Kes.25,000 within Nairobi and Kes.30,000 outside Nairobi.

Stamp duty on charge-0.1% of the loan amount.

Annual loan protection insurance premium-0.35% of the loan amount.

—-Harambee Sacco

—–Harambee Home Loan

Harambee Home Loan (HHL) is an affordable mortgage within the Kenya Mortgage Refinance Scheme and is available to all Harambee SACCO (HS) members who wish to purchase a single dwelling residential house either as a stand-alone house or a unit within a block of flats for purposes of owner occupation.

This mortgage facility is governed by the applicable terms and conditions (T&Cs) of the Harambee Home Loan (HHL).

HHL Product Features: -​

  • Loan to value ratio (LTV): The maximum loan amount applicable is up to 90% of purchase price or open market value of the subject property whichever is lower for refinance-able facilities. The member raises 10% proportion of the purchasing price.
  • Interest rate: The mortgage Interest Rate is 8% p.a for loans paid in less than 10 years and 9% p.a for loans over 10 years. Interest rate is calculated on a reducing balance.
  • Maximum loan term: Up to 25 years.
    For salaried members, the maximum loan term is 25 years (or 300 equal monthly instalments). An applicant qualifies for a loan term not exceeding the difference between their age and official retirement age of the employer or 25 years, whichever is shorter)
    For members from the informal sector (relying on business income), the maximum loan term is up to 15 years (or 180 equal monthly instalments). Maximum loan term in this category is therefore 15 years or the balance between the applicant’s age and the insurable age whichever is lower.
  • Minimum/Maximum Loan Amount: Kes 500,000.00 – Kes 4,000,000.00
  • Mortgage Protection Policy (MPP): The loan applicant is required to obtain an insurance policy to cover the loan amount against death or permanent total disability. This policy is known as Mortgage protection Policy. In the event of death or permanent total disability, the cover underwriter pays the remaining loan balance to the SACCO.
  • Domestic Package Insurance Cover (DP): This is an insurance cover on the property itself against theft and fire. In case of fire destruction, the insurance will finance rehabilitation to the original state but capped at Insurance Value as determined by a Valuer in Harambee Sacco panel.
  • Applicable security/collateral: Registration of charge on either a title deed or on a certificate of lease for properties within municipalities, towns and cities. Where a leasehold is offered, a minimum residual lease of 40 years (or not less than 20 years at completion of the loan) is applicable at the onset of the loan.
    We shall do not finance agricultural and ancestral land
    Specific approval of the board may be procured for property on agricultural land within the Nairobi metropolitan, subject to land board approval and the land not being part of an ancestral land. In this case the applicant may be required to procure a change of user for the land.
  • Loan Processing Fees: A processing fee of 1% of the approved loan amount is applicable upon acceptance of HHL Letter of Offer.
  • Mode of payment: The Home Loan is payable by check off at pay point or FOSA where salary is paid through FOSA.
  • Early Loan Repayment: Early principal pre-payments and early full loan redemption are allowed at no extra cost for the member/borrower.

How to Apply:-

The applicant is required to complete and sign Harambee Mortgage Application and provide the following documents.

Income Documents

  • Letter of introduction by the employer {to indicate employment terms (permanent/contract), designation & length of service, income details, and staff discipline status etc.}
  • Attach three months most recent and certified pay slips.
  • Attach six months most recent and certified bank statements for all banking relationships.
  • Irrevocable authority to the employer to deduct the monthly loan instalments via check off.

Identification Documents

  • A clear copy of national identity card.
  • A clear copy of KRA Pin Certificate.
  • Copy of marriage certificate/Affidavit is application is joint with spouse.

Property Documents

  • Letter of offer or draft sale agreement from the vendor spelling out the specific property details and the terms of the proposed sale.
  • A copy of title/lease for the proposed property.
  • Valuation report of the proposed security/collateral and carried out by a valuer in Harambee SACCO’s panel, shall be a post approval condition to be captured in the Harambee Home Loan letter of offer
  • Member required to pass salary through FOSA

—-Ukulima Sacco

Makao Home Loans

Makao Halisi Loan

The mortgage is strictly for purchase or construction of owner occupier residential houses or homes only.

  • Accessible to Sacco members whose gross monthly income is Kshs 150,000/- and below.
  • The maximum loan is Kshs 6.0 Million and Kshs 5.0 Million for Nairobi Metro (Nairobi, Kiambu, Machakos and Kajiado) area and other parts of the country respectively.
  • Interest rate is 8.0 % per annum.
  • Maximum loan tenure is 20 years.
  • Security for the loan is strictly collateral

Makao Bora Loan

The mortgage is strictly for purchase or construction of owner occupier residential houses or homes only.

  • Accessible to members whose gross monthly income exceeds Kshs 150,000/-.
  • The maximum loan is Kshs 8.0 Million.
  • Interest rate is 9.5% per annum.
  • Maximum loan tenure is 20 years.
  • Security for the loan is strictly collateral

—-Kimisitu Sacco

Makao Halisi Loan

The SACCO has in the past facilitated its members to buy land, build houses & buy ready houses. In line with the Agenda 4, the Sacco has revamped Makao Halisi product to make it attractive to the members through provision of affordable housing to its members. Kimisitu SACCO shall deepen further buying of land, construction and buying of homes for all its’ members.

Product Features:

  • Must be a member of Kimisitu Sacco Ltd
  • Must have contributed consistently for at least 6 Months.
  • All borrowers must have attained the minimum Kes.30,000 requirements for share capital.
  • Loan multiplier- X7 of deposits
  • Interest rate: 12% p.a. Reducing Balance
  • Top Up of Makao Halisi allowed for any of the sub-categories, at 2.5% one-off
  • Mortgage Bank buy offs are also allowed
  • Off plan shall ONLY be done through Sacco certified and credible partners. (Have partners who handle projects and accept payments after completion of the houses)
  • Member buying rental houses with existing proven income, the income to be considered on appraisal.
  • Provide 3 months moratorium with only interest payable to allow the member ample time to finish their house/building construction.
  • N/B: This is applicable only to members undertaking construction.

Makao Subcategories

Product sub-typeFinancing PercentageLoan LimitMortgage TenureInterest RateEligible Customers
Land Purchase100%30M60 Months12% p.a. Reducing BalanceKimisitu Sacco Members
House Purchase – First Mortgage105%30M144 Months12% p.a. Reducing BalanceKimisitu Sacco Members
Construction Loan105%30M144 Months12% p.a. Reducing BalanceKimisitu Sacco Members
Commercial Housing100%30M180 Months12% p.a. Reducing BalanceKimisitu Sacco Members
Incremental housing  105%30M144 Months12% p.a. Reducing BalanceKimisitu Sacco Members
National Cooperative Housing Union (NACHU) Off Plan Personal Housing90%30M144 Months12% p.a. Reducing BalanceKimisitu Sacco Members

N/B: **Bank Buy offs for mortgages will be facilitated at 100% based on above qualifications depending on the sub type of the loan being bought off as per above features.

** Incremental housing: This is where the construction is done in phases depending on ability to pay and stages. Member can be financed for the specific section of the house that is pending.


  1. Duly filled loan application form
  2. Current certified pay-slips/ 6 Months certified bank statements, Copy of ID
  3. Copy of signed sale agreement between the borrower and vendor to be submitted to the Sacco Most current copy of title deed.
  4. The borrower must have clear and proven source of repayment – already existing income streams that are sufficient to meet expected repayment.
  5. Security to be by way of first legal charge on the property being financed and/or another property by legal firm on the Sacco panel
  6. Loan secured by the plot 30% and house structure 70% (For construction mortgages)
  7. Property to be valued by a valuer on the Sacco’s panel
  8. Profile of the contractor.
  9. Approved architectural and structural drawings of the proposed project.
  10. Evidence of up to date land, rent & rates payment (i.e. receipts where applicable)
  11. Original Bills of Quantities prepared by a registered quantity Surveyor
  12. Project Implementation Schedule (Contractor’s work plan) detailing all activities and scheduled time frames.
  13. Building contract agreement between borrower and contractor.


  1. Land & Building Security Matrix
Nairobi Metropolitan area80% of forced sale value
Other County Headquarters and Towns with at least 2 banks. (It is known that presence of banks is indications of improved economic activities)75% of forced sale value

** Applies for all mortgages.

  1. Process charges incurred during mortgage processing
  2. Valuation
  3. Legal fees on charging of title
  • Project managers fees
  1. Property Insurance: – 100% of Mortgage Value
  2. Loan Insurance: – Value of mortgage

N/B: The Valuation, Legal fees (Consents, transfer and charge) and project management charges to be paid by the member. (Sacco can finance depending on the collateral and ability of member).

—-Tower Sacco

Tower Sacco offers home loan with interest rate of 9.5 %.

—Biblia Sacco

Makao Poa Loan

This product is designed to help members in their investment and development plans e.g.acquire a plot, renovate, finish or even construct commercial, rental and residential properties.

  1. Minimum loan shall be Kshs. 1million and Maximum loan amount shall be Kshs.10 million subject to ability to repay.
  2. Interest rate charged on the loan is 12% p.a. on reducing balance.
  3. Maximum repayment period of 72 months.
  4. The loan must be fully secured by guarantors and/or collateral.
  5. Member must have a good credit history and ability to repay.
  6. This loan shall not be used to refinance any other loan.
  7. Applicable to members with deposits of at least 15% of the loan applied


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