What is the minimum down payment required for long term mortgage financing in Kenya?


Mortgage is a good investment to make in Kenya especially when you want to own a home. There are over 10 companies in Kenya offering mortgages. Down payment for each company is as follows.

NCBA Bank down payment—10%

How long does it take to process a loan?

It takes a minimum of (1) one day to confirm eligibility. Offer letter within seven (7) days.

The mortgage process depends on many factors; key one being the readiness of the

customer in providing the required documentation and paying relevant fees. It also

depends on the nature of transaction.

The following provide a guideline of the different time frames:

(Including approval of the loan up to disbursement)

– Purchase of house approx. 45-60 days

– Construction loans approx. 45-60 day

Kenya Mortgage Refinance Company down payment—10%-20%


Repayment is up to 25 years.

Mortgage loan limit is Ksh 8 million

What types of housing loans are offered by KMRC?

KMRC offers two categories of bulk loans to PMLs:

  1. Affordable Home Loans: Loan size up to KES 6M within Nairobi Metropolitan Area (covering Nairobi, Machakos, Kajiado and Kiambu Counties) and KES 5M elsewhere in Kenya and extended to borrowers with monthly income threshold of KES 150,000 and below.
  2. Market Home Loans: These loans are extended to Primary Mortgage Lenders to finance home loans above the affordable home loans threshold. These have no income limit.

Cooperative Bank down payment—up to 40%


  • Wide array of mortgage product offerings, that is, purchase, construction and equity release
  • Multi-currency mortgages available in KES, USD, GBP and EUR
  • Efficient processing of your application
  • Higher financing percentages to enable you to own your home with ease
  • Dedicated personal banker to walk you through the process
  • Flexible and competitive rates
  • Automatic qualification for a credit card
  • End-to-end real estate solutions including project financing and end-buyer financing


  • Commitment fees for the mortgage
  • Stamp duty for transfer of property – 4% of property value for Nairobi, Mombasa and Kisumu and 2% of property value for upcountry properties
  • Stamp duty for registration of charge – 0.1% of the loan amount
  • Legal fees – between 1.5% and 2% of the loan amount
  • Valuation fees – approximately 0.25% of the property value
  • Insurance fees – for life cover over the applicant’s life and for fire (and other perils) over the property taken as security for the mortgage

KCB Bank down payment—10%

How to get a KCB Home Loan

Employed Persons

Please bring original and copies of

  • Pay slips for the last 3 months
  • Letter from employer confirming employment status
  • Bank statements for the latest 6 months
  • National ID or valid Passport
  • Your KRA PIN certificate
  • Three passport size photographs
  • Sale agreement duly signed by both parties and witnessed by a lawyer.
  • Title to property being purchased/charged (minimum lease term must be at least 35 years)

Minimum requirements

  • Open a mortgage account with an opening balance of Kshs.10,000
  • A third of your basic salary is to be left to cater for your living expenses

Self-Employed Persons & Partnerships

Please bring original and copies of

  • Bank statements for the last 12 months
  • Your KRA PIN Certificate
  • Certificate of Registration & Trading License
  • Partnership Deeds
  • Audited Books of Accounts
  • Income tax return
  • Tenancy agreements for rented properties/rental schedules

Limited Companies & Investment Groups

Please bring original and copies of

  • Memorandum & Articles of Association
  • Certificate of Incorporation
  • Audited Books of Accounts
  • Your KRA PIN Certificate
  • Tax Compliance Certificate
  • Directors Resolution to Borrow


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