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Home Loan Calculator

Enter your mortgage details to calculate your repayment schedule

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Calculations by this calculator are estimates only. There is no warranty for the accuracy of the results or the relationship to your financial situation.

MORTGAGE PAYMENT REPORT

Sale Price of Home:
KES. 2,000,000.00
Down Payment:
KES. 200,000.00
Amount Financed:
KES. 1,800,000.00
Length:
10 years
Annual Interest:
9.00 %
Monthly Payment:
KES. 22,801.64
(excluding tax and insurance)

TOTALS

You will spend
KES. 2,736,196.71
Amount toward INTEREST
KES. 936,196.71
Amount toward PRINCIPAL
KES. 1,800,000.00

Amortization

Month Interest Paid Principal Paid New Balance

Frequently Asked Questions

Common questions about mortgages and home loans in Kenya

What is the current mortgage interest rate in Kenya?

Current mortgage interest rates in Kenya (2025) typically range from 11.5% to 15% depending on the bank and specific mortgage product. KMRC-backed mortgages may offer lower rates around 9% to 10%. Always check with your specific financial institution for their latest rates.

How is mortgage interest calculated in Kenya?

In Kenya, mortgage interest is typically calculated using the reducing balance method. This means interest is only charged on the outstanding loan balance, which decreases as you make repayments. Each payment consists of both principal and interest components, with the principal portion gradually increasing over time.

What are the typical mortgage terms in Kenya?

Mortgage terms in Kenya typically range from 5 to 25 years. Some lenders may offer terms up to 30 years. Longer terms result in lower monthly payments but higher total interest paid over the life of the loan. The Kenya Mortgage Refinance Company (KMRC) has been working to extend available mortgage terms.

What fees are typically associated with mortgages in Kenya?

Common mortgage fees in Kenya include:

  • Application fees (0.1-1% of loan amount)
  • Legal fees (1-2%)
  • Valuation fees (0.1-0.25%)
  • Stamp duty (2-4% of property value)
  • Insurance premiums
  • Arrangement fees (varies by bank)

Always ask your lender for a full breakdown of fees before proceeding with a mortgage application.

What is the minimum down payment for a mortgage in Kenya?

Most Kenyan banks require a minimum down payment of 10-20% of the property value. KMRC-backed mortgages might have lower down payment requirements. The higher your down payment, the better your interest rate is likely to be. Some institutions may offer up to 90% financing, meaning you only need to provide a 10% down payment.

Kenya Mortgage Market Overview

Essential information about the mortgage landscape in Kenya

Top Mortgage Providers in Kenya

  • KCB Bank: Offers up to 90% financing with terms up to 25 years
  • Equity Bank: Provides competitive rates with flexible repayment options
  • NCBA Bank: Offers both residential and commercial property financing
  • Stanbic Bank: Provides mortgage solutions with competitive interest rates
  • Housing Finance (HF): Specializes in mortgage lending with various products
  • Co-operative Bank: Offers affordable housing finance solutions
  • Absa Bank: Provides tailored mortgage solutions for various needs

The Kenya Mortgage Refinance Company (KMRC) partners with many of these institutions to provide longer-term, affordable mortgages.

Important Mortgage Terms to Understand

  • Principal: The initial amount borrowed, excluding interest
  • Amortization: The process of gradually paying off a loan over time
  • Loan-to-Value (LTV) Ratio: The ratio of the mortgage amount to the property value
  • Origination Fee: A fee charged by the lender for processing a new loan
  • Prepayment Penalty: A charge for paying off the mortgage early
  • Fixed-Rate Mortgage: A loan where the interest rate remains the same throughout the term
  • Variable-Rate Mortgage: A loan where the interest rate can change over time

Understanding these terms can help you make informed decisions when shopping for a mortgage in Kenya.