Financing Your Kenyan Home

Financing is one of the biggest hurdles for Kenyan homebuyers. Whether to buy in cash or opt for a mortgage is a common question, especially among first-time buyers and the diaspora. Here’s a clear breakdown of your options.

Understanding Mortgages in Kenya

Mortgages allow buyers to spread costs over time. Major banks such as KCB, Co-op Bank, and NCBA offer housing loans with repayment terms up to 25 years. Pre-approval strengthens negotiation power when booking property.

Paying Cash for Property

Cash purchases have the advantage of avoiding long-term interest costs. Developers often offer discounts to cash buyers. However, paying upfront requires significant capital.

Comparing the Two Options

Mortgages provide flexibility but come with interest costs. Cash buying saves money long-term but limits liquidity. The best option depends on your financial goals and income stability.

Practical Tips for Financing

• Improve your credit score by paying debts on time.
  
• Prepare necessary documentation: ID, payslips, and bank statements.
  
• Explore diaspora mortgage packages if living abroad.
  

FAQs

• What’s the minimum mortgage deposit? Usually 10–20%.
  
• Can diaspora buyers access local mortgages? Yes, through diaspora-targeted products.
  
• Is cash buying always better? Not necessarily—it depends on liquidity.
  

Finding Your Best Fit in Kenya

There’s no one-size-fits-all approach. The right financing option is the one aligned with your financial capacity and long-term goals. Curious about flexible payment options today? Get in touch with us.