Top Mortgage Companies in Kenya

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Top Mortgage Companies in Kenya 

Many Kenyans aspire to have a home of their own where they can put their roots and raise their families. And even though they prefer constructing their own homes, progressively, they are embracing home ownership through mortgages.

Fortunately, the mortgage market in the country has grown and is offering competitive deals to Kenyans in their journey to homeownership.

How mortgage interest rate is calculated 

Mortgage interest rates are calculated as the sum of the Central Bank interest rate – eg the CBR rate is 7.25(March 2020 after CBK lowed its rate as a result of the coronavirus) and is summed up with the banks’ variable margin of for example 4%. Therefore, cumulatively as a borrower, they would pay 11.25% in interest rate. 

Commercial banks lending rates as a guide

To make it simple, use the prevailing commercial banks lending rates to guide you. So, if the interest rate in the market is 14%, the mortgage interest rate would be about 14%. However, the mortgage interest rate will be higher because will have to cover the high premiums associated with a mortgage.

Vary depending on market rates

Mortgage interest rates vary depending on the prevailing rates in the market. So, if the interest rates rise, mortgage rates rise, and if interest rates fall the mortgage rate goes down.

This article does not give explicit mortgage rates of the different banks due to these fluctuations. However, the above explanation should guide you on a ballpark figure of how much they could charge.

Here is a list of some of the top mortgage companies in Kenya:

1) KCB

This bank is the largest mortgage lender in Kenya. The bank even aims to have increased its mortgage loan accounts to 20,000 under its portfolio by the end of 2020.

KCB offers financing for 90% for owner occupancy, 80% for income-generating properties, and 70% for plot purchase.

Their loans are open to salaried individuals, self-employed, contract, and Kenyans working in Diaspora. Furthermore, their terms are flexible and have a repayment period of up to 25 years.

2) Housing Finance Group

HF Group is the second biggest mortgage lender in Kenya. They provide home loans with up too 105% financing and loan repayment of up to 20 years. 

With HF, if a customer has an owner-occupancy loan, they get to enjoy tax relief. While their mortgage protection cover insures death, disability, and fire.

3) Standard chartered bank 

This bank has the highest mortgage loan limit of up to Ksh100 million. For that reason, a borrower does not have to compromise on the quality of the home they want.

Just like their counterparts, KCB AND HF, they have a long tenure of repayment of up to 25 years. 

Their mortgage loans can be acquired in either KES or USD *T&C’s apply.

4) NIC Mortgage 

It offers you a variety of options for mortgages. They offer an equity release, purchase financing, or a balance transfer/refinance for an existing mortgage from one financier to another.

They offer 90% financing to Kenyans on their mortgages and 70% for Kenyans in the Diaspora. 

Their interest rates are competitive and on reducing balance, and there is no penalty for early repayment.

5) Commercial Bank of Africa

The bank offers various mortgage products to their customers. One of them is 105 Own Your Own Home (105OYOH), which offers a minimum loan amount of Kshs 1 million, and a maximum amount of Kshs 20 million. 

The other one is Scheme Mortgage Offer for organizations whose employees want to buy homes. And last, the Diaspora Mortgage Offer, which serves the Diaspora clients. It is available in Kenya shillings, Sterling pound, US dollar or Euros.

Finally, CBA mortgage tenures go up to 25 years and demand a debt to income ratio to not exceed 60% of the net salary.

Interest rates: Pegged to CBR for local currency

6) Co-operative Bank

This bank’s mortgage product mainly targets Kenyans in the diaspora, and is available in KES, USD, EURO, and GBP. 

Other than stand-alone mortgage loans, they also offer mortgage top-up and mortgage takeovers from other financial institutions.

While on their website, you can use the mortgage calculator to calculate your monthly repayments.

7) ABSA Bank

Formerly known as Barclays Bank Kenya, ABSA authorizes successful mortgage applications within 48 hours. They offer 90% funding and offer repayment periods of up to 25 years.

And if you are from the Islamic faith, you do not need to worry, because their mortgage is Shari’ah-compliant.

To make it easy to find prime properties for a mortgage, the company has partnered with various real estate companies in the country. These include VillaCare, Karibu Homes, Greenspan Housing, Kings Pride Properties, Lyndsy Enterprise Limited, Sunland, Jastaline Holdings, Ark by Chevis Company, Realty Plus Limited, and Hass Consult.

8) Stanbic Bank

It is one of the few banks that offer 105% financing of mortgages. It covers 100% of the sale price and an additionnal 5% of closing cost ie stamp duty and legal fees.

To be considered for a mortgage you must have a salary of Ksh 100,000, and your debt to income ratio should not exceed 50% of your net salary.

After applying, if all your documents are in order, your mortgage application should be approved within 4 days.

9) Diamond Trust Bank

Their mortgage loans are available for both employed and self-employed individuals and have a maximum of 20 years of the repayment period. However, loan repayment must be completed before the 60th birthday of the applicant or before retirement, whichever comes first.

Their home loans can be used to buy property in any of the cities or municipalities in the county and are offered in local currency only.

10) Consolidated Bank

CB mortgage loan is designed to meet the needs of customers who desire to own their homes. Their loan terms are competitive and you will need bank statements of 6 months when applying. Additionally, a letter of the employer, the latest 3 months slips, and a copy of the PIN certificate is needed.


Choosing the right mortgage company in your home ownership journey will determine whether you eventually own your home. Being so, do thorough research, and choose one that meets your needs and preferences.

Need Help?

Choosing the right mortgage provider requires proper analysis to avoid over-payment that sometimes leads to auctioning due to failure to meet obligations. We at Finsolutions have the expertise to offer you proper investment advice that will lead you to a journey of owning a better home. For more details on home ownership Email: or, Contact +254 780216631


About Author

Anthony Kiratu is the Founder of Finsolutions. He is a financial analyst with over 5 years experience in research, investment advisory, valuation and financial modelling. Anthony is a member of the Institute of Certified Investment and Financial Analysts and Institute of Certified Public Accountants of Kenya. He is passionate about development of African Capital Markets through training of investors and dissemination of information for sound financial and investment decision making process. He is also a part-time lecturer in the Certified Investment and Financial Analyst course in the subjects of International Finance, Portfolio Management, Equity Investment Analysis, and Fixed Income Securities. Email: Contact: +254 780216631

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