How to get a mortgage in Kenya: requirements, process and tips
How mortgages work in Kenya: who qualifies, deposits, documents banks ask for, the approval process, costs, KMRC-backed loans and how to compare offers.
Updated 23 October 2026 · Mtopanga Properties editorial team
A minority of Kenyan homes are bought with a mortgage, partly because of high interest rates and deposits. But mortgages are becoming more accessible through banks, SACCOs and lenders refinanced by the Kenya Mortgage Refinance Company (KMRC). Here is how the process works.
Interest rates change often. Use our mortgage calculator with the rate your lender actually quotes.
Who can get a mortgage
Lenders look at:
- Income and stability: employed applicants usually need payslips and bank statements; self-employed applicants need audited accounts or several months of business bank statements.
- Affordability: lenders cap repayments at a share of your net income.
- Credit history: your record at credit reference bureaus. Clear defaults before applying.
- Age and term: the loan usually needs to be repaid before retirement age.
- The property: it must have a registrable title (freehold, leasehold or sectional title) and approvals.
Deposit
Most lenders finance a percentage of the property's value, with the buyer paying the rest as a deposit. Some affordable housing products allow smaller deposits for qualifying buyers. Remember you also need cash for stamp duty, legal fees and valuation.
Documents usually required
- National ID and KRA PIN.
- Recent payslips and bank statements, or business accounts.
- Letter of employment, or business registration documents.
- Sale agreement or letter of offer for the property, and a copy of the title.
The process
- Pre-qualification: an indicative amount based on your income.
- Find the property and agree a price, making the sale agreement conditional on financing.
- Formal application with documents.
- Valuation by a valuer on the lender's panel.
- Offer letter setting out the rate, term, fees and conditions.
- Legal work: the lender's advocate registers a charge over the property alongside your transfer.
- Disbursement to the seller at completion.
Costs to expect
- Arrangement or processing fee.
- Valuation fee.
- Legal fees for the charge, plus stamp duty on the charge document.
- Mortgage protection (life) insurance and building insurance.
What is KMRC?
The Kenya Mortgage Refinance Company provides long-term funding to banks and SACCOs so they can offer longer, fixed-rate mortgages for affordable homes. You do not apply to KMRC directly; you apply to a participating lender.
Tips for a better deal
- Compare total cost (rate plus fees), not just the headline rate.
- Ask whether the rate is fixed or variable, and how it is reviewed.
- Check early repayment penalties.
- Improve your credit score and save a larger deposit to reduce the loan.
Frequently asked questions
How much deposit do I need for a mortgage in Kenya?
It depends on the lender and product. Many conventional mortgages require a deposit of a meaningful share of the value, while some affordable housing products accept less for qualifying buyers.
Can I get a mortgage to buy land in Kenya?
Standard mortgages usually finance a home rather than vacant land. Some banks and SACCOs offer plot-purchase loans with different terms.
Can diaspora Kenyans get a mortgage in Kenya?
Several Kenyan banks have diaspora mortgage products. Expect to provide proof of foreign income, bank statements and identification, and to sign through a power of attorney or at an embassy.
General information for Kenya, not legal, tax or financial advice. Laws, fees and procedures change: confirm current requirements with a qualified advocate, licensed surveyor, registered valuer or KRA before you commit money.