Sacco Home Financing
Buying your first home in Kenya is a major milestone—and for many, SACCO financing is the bridge that makes it possible. With flexible terms, lower interest rates, and member-first policies, SACCOs are unlocking homeownership for a new generation of buyers.
If you’ve ever asked: “Can I buy a house through a SACCO?”, this blog breaks down how it works and why it’s a great option.
What Is a SACCO and How Does It Work?
A SACCO (Savings and Credit Cooperative Organization) is a member-based financial institution where individuals pool savings and access affordable loans.
Key features:
- Low interest rates
- Lenient credit checks
- Flexible repayment terms
- Community-driven decision-making
Unlike banks, SACCOs are more accessible, especially for first-time buyers, self-employed individuals, and those with moderate income.
Why SACCO Financing Works for First-Time Buyers
- Lower Interest Rates
SACCOs typically offer lower rates than commercial banks, which reduces your total loan cost. - Minimal Bureaucracy
You deal with a leaner approval process, especially if you’re a long-time member. - Higher Loan Multiples
Some SACCOs offer loans up to 3x your savings, giving you higher purchasing power. - Ideal for Groups & Chamas
Group-based SACCOs are perfect for collective homeownership or buying as a family unit.
Real Example: Jane’s SACCO Homeownership Journey
“I saved consistently with my SACCO for 3 years. When Mi Vida announced their flexible payment plans, I applied through my SACCO and was approved within 2 weeks. Now I own a beautiful 2-bedroom unit without a heavy financial burden.” – Jane, Mi Vida Buyer
Steps to Buying a House Using a SACCO Loan
1. Join a SACCO:
Choose a registered SACCO that supports home loans and start saving.
2. Save consistently:
The more you save, the higher your loan limit.
3. Identify a property:
Select a home from a reputable developer like Mi Vida.
4. Apply for financing:
Submit your loan application with details of the property.
5. Approval & disbursement:
Your SACCO will process the loan and pay the developer directly.
Your First Home Is Within Reach
Whether you’re in a teachers’ SACCO, civil service SACCO, or a private member-based group, you don’t have to wait years to own a home. Mi Vida is here to help you unlock your dream-affordably.
Let’s Get You Started
Talk to our team about SACCO-friendly payment plans.
And if you have any SACCO options, we are always happy to collaborate based on your terms.