Top 10 mortgage Lenders in Kenya in 2021

Have you been planning to identify an affordable mortgage lender to no avail? If so, today is your lucky day because we will b highlighting the top mortgage lender in Kenya and you should be able to settle on a mortgage financier.

Firstly, a mortgage is a type of secured loan against an immovable asset majorly a house or commercial property where the lender keeps the asset as collateral until the borrower fully repays the loan amount. Before applying for a mortgage, you should have several questions in mind to give the best direction on settling on a lender for instance, who qualifies for a mortgage, what is the difference between a mortgage and a loan and what is the difference between a mortgage loan and a housing loan and lastly, what type of mortgage is available.

Types of mortgages in Kenya

There are two major types of mortgages in Kenya, they include fixed-rate mortgages and adjustable or variable rate mortgages.

Fixed-rate mortgages

These are types of mortgages that provide borrowers with a fixed interest rate, and already conventional interest rate over a set term of between, 15,20 or 30 years which implies that the shorter the term, the higher the monthly payment. Conversely, the longer the periods’ borrowers take to repay the loan the more the interest charged on the loan.

Adjustable-rate mortgages

This is a type of mortgage that is bound to changes during the life of the loan due to factors such as market fluctuations. With these, the payment rates are changed over time to adjust to the new changes. For instance, if the loan will take you five years, the rates can be reviewed after every two and a half or each year for the 5 years.

Who qualifies for a mortgage in Kenya?

To qualify for a mortgage in Kenya, you will need a verifiable income with 6 months certified bank statement. Three months’ payslip and tax returns, original ID or passport, letter of introduction from your employer and a down payment that will be determined by the terms of the lender.

Top 10 mortgage lenders in Kenya in 2021

Below is a list of top 10 mortgage lenders in Kenya in 2021, they include:

HF Group

Housing finance (HF Group) prides itself as an integrated property and financial service provider and a non-operating holding company. The group has been in operations since the year 1965, it started as a mortgage financier but has since transitioned to a provider of integrated property and financial solutions with interests in real estate development, commercial banking, insurance and property finance.
The company is also the only mortgage company regulated by the central bank of Kenya and the national banking regulator.
The group offers several services that include, investments in residential property, commercial property, buy a plot, property listing for auction sales, Shika Nyumba Accredited agents and action.
Under financing, the company offers loans to buy a plot, home an office or a loan to buy a vehicle.

How to secure financing from the HF group

There are three ways in which you can secure financing with the HF group. This includes the use of joint ventures, pooling of resources and securing financing from commercial banks.
To secure financing from the HF Group is a simple process, all you need is: First, approach the bank with the details of the property to be financed, this includes, location, development cost, and the target market of the project. The bank will develop a partnership with to finance your project.

Standard Chartered bank Mortgage

Standard Bank Kenya Limited was established in 1911, also listed by Nairobi Securities Exchange. The bank offers a variety of local and foreign currency banking solutions to meet its clients transactional, investment and borrowing needs.
The company’s business model has majored on three types of clients that include: Retail banking, commercial banking and corporate and institutional banking.

Types of mortgages offered by Standard Chartered (SC)

Home Purchase

The home purchase mortgage allows you to borrow as much as Ksh100 million including 100 per cent financing on your project and it includes an additional long tenor of 25 years.

Equity release

The equity release is a type of mortgage offered by the Standard Chartered bank that allows you to borrow much higher loan amounts and use your existing property as collateral.
Top up mortgage
This mortgage package allows you to access a loan based on the previously settled mortgage after 24 months.

Construction mortgage

This package involves financing you to build your dream home. You only qualify for the construction mortgage package if you have an existing plot which is then used as collateral.

Balance transfer

This type of mortgage allows you to consolidate your mortgage facilities into one manageable account.
Who is eligible for the Standard Chartered mortgage?
The Standard Chartered mortgage is quite flexible, it allows for the use of both the US Dollar and Kenyan currency. If you are working outside the country, can buy property as an investment or place to stay when they return home.

Citi Group

Citigroup is a federally chartered National Banking Association owned by Citigroup; a public corporation listed by on the New York Stock Exchange with more than 200 million customers globally. The bank has been serving in Kenya since the year 1974 and also the regional hub for the Citi East Africa group that comprises of Kenya, Uganda, Tanzania and Zambia.
The group offers a range of banking services to companies including commercial finance, interbank transactions, investment services, deposits, cash management and electronic banking including helping you manage your finances to increase the value of your investment and finance your projects.

The Citigroup home mortgage offers:

  • Citigroup has for a long time recognized the needs of international clients in over 160 countries that the company has a presence in including Africa. Some of the needs covered include low home prices, low-interest rate.
  • The bank lets you finance a second home, vacation home or investment property by connecting you with the right solutions for your financial needs.
  • The bank also offers competitive mortgage rates and options to choose from that include fixed and adjustable rates plus flexible terms.
  • Besides, you are entitled to up to $2 million and loans for up to 70 per cent of your home value.

KCB Group

KCB is a registered non-operating holding company with presence in over 5 East African countries including Kenya, Uganda, Rwanda, Burundi, South Sudan, Tanzania and Ethiopia.
The group also owns some subsidiaries that include KCB Capital, KCB Foundation, National Bank and KCB Insurance Agency. The company prides in offering unrestricted capital and also enhance investment in ventures outside banking regulations

KCB Mortgage loans

The KCB home loan enables you to build your own dream house including developing property, and home loan products that package flexible payment periods while letting you access up to 90 per cent for owner-occupier and 80 per cent for income-generating properties and 70 per cent for plot purchase.

KCB Mortgage rates and fees

For internal applicants, you require the following:

  • Appraisal fees at 2.5 per cent of the loan amount
  • A ledger fees of Ksh 350 per month.
External Application Fees

This includes:

  • Legal fees
  • Stamp duty
  • Valuation fees
  • Stamp duty on charge
  • Insurance to cover life and property.
Mortgage plus fees

This includes:

  • Negotiation fees of 2.5 per cent of the loan amount.
  • Ledger fee of Ksh 350 per month
  • Legal and valuation fees
  • Stamp duty of 4 per cent of the cost of property
  • Insurance premium that would be financed by the KCB group.
  • Stamp duty on charge at 0.1 per cent of the loan amount.


NCBA is as a result of a partnership between the NIC bank and the CBA to create a bank that co-exists in both worlds, the front-line mobile banking and old-fashioned relationship management from scalable business banking to financial services focused on growing your business.
The prides itself in putting the long-term interests of its customers while supporting Kenya’s and the regions economic growth.
NCBA mortgages offer loans in Kenya for up to 105 per cent of the value of the property for persons seeking to construct, acquire or finance property especially in major urban and rural areas within major towns in Kenya.
NCBA Mortgages offers some of the most competitive rates to clients including friendly loan terms. Additionally, you are eligible for a loan repayment period of up to 25 years.

Features of NCBA Mortgage loans

  • The mortgage loans are offered in Kenya shillings, dollars, pounds and including Euros, which gives you the flexibility to do your transactions anywhere.
  • NCBA loans offer mortgage facilities of the loan amount in a local currency and 1.5 per cent of the loan amount in foreign currency.
  • Also, the home loan interest is calculated on a reducing balance basis.

Absa bank

Absa bank is part of the Absa Group Limited, an African financial services group. Also listed on Johannesburg Securities Exchange in South Africa and also among Africa’s largest financial service groups. The group has a presence in 12 countries on the African continent. Absa bank is committed to finding local solutions to uniquely local challenges focused on adding value to its clients.
Some of its products include retail banking, business, corporate, investment and wealth management solutions.

Absa mortgages

Absa gives you the option to buy another property, buy property to let or build your own house with 48-hour feedback on the application. Besides, the bank also offers fully shari’ah -compliant mortgages.

Absa loan application fees

The bank charges 4 per cent of home value for transfer stamp duty and 2 per cent for upcountry.
Stamp duty of charge sums op to 0.10 per cent of the home value, negotiation fees of 1 per cent- to 2- per cent legal fees are charged at 1.20 per cent of the mortgage amount, fire insurance at 0.13 per cent and home loan protection cover at 0.30 per cent of the home value.

The bank also charges a valuation fees of 0.25 per cent of the value of the property including and additional annual insurance and protection cost.

CFC Stanbic bank

CFC Stanbic bank is a leading Africa-focused financial service provider. The bank boasts of many products and solutions that it offers to its clients that include personal banking, business and cooperate banking.

The bank also offers home loans to its clients to help them invest through the bank’s mortgage financing that offers loans up to 105 per cent of the value of the property.

Some of its mortgage financing projects include construction financing where the bank supports you to build a home of your dreams with 100 per cent construction financing.

As a property owner, the bank also offers a property owner loan to meet your needs.

Thirdly, the bank also offers loans on vacant land financing which allows you to purchase residential property within major towns in Kenya.

Benefits of the CFC Stanbic mortgage

  • You get up to 105 per cent finance on a property below ksh20M which caters of 100 per cent sale price plus a closing cost of 5 per cent.
  • You are eligible to a minimum loan amount of ksh1M and the minimum property value of ksh3M.
  • There are flexible repayment terms including an interest rate pegged to CBR for local currency.
  • As a client, you have access to all other Stanbic bank solutions and products.
  • The package also comes with embedded insurance in the loan repayments to cater for mortgage protection, retrenchment and house insurance.

Corporative bank

The Co-operative Bank of Kenya Limited is incorporated in Kenya under the Company Act licensed under the banking act. The bank is also a listed member of the Nairobi Securities Exchange (NSE) since the year 2008. Co-operative runs three subsidiaries that include Kingdom securities limited, Co-op Trust Investment services limited, a wholly-owned fund management subsidiary and Co-op Consultancy and Insurance Agency Limited.

The bank envisions itself to be a dominant bank in the East African region with its unique model that focuses on providing innovative financial solutions for its diverse customer markets.
Beyond banking, the bank offers financing solutions to be it on construction or of residential or commercial properties.
The bank offers completive interest rates with loans granted for up to a maximum of 20 years for single dwelling units and 10 years for residential commercial units.

Features of the Co-operative bank mortgage loans

  • It offers competitive interest rates
  • The package also offers affordable instalments including a repayment period of up to 20 years
  • You will also get a grace period of six months,
  • Once you purchase a house, it can be used as collateral, whereby its rental income can be used to repay the loan.

Additionally, the bank supports diaspora clients to achieve their dreams while still away from home at competitive rates in USD, Ksh, Euros and GBP.

Consolidated bank

The consolidated bank is a commercial bank in Kenya. Fully owned by the government with a majority shareholding of about 85 per cent. It was stationed to stabilize the financial sector in Kenya. having served in the country for over 20 years, the bank understands the diverse markets within which its clients operate which makes it offer services that are tailored to offer banking solutions to corporate, SME and retail clients.
Other services offered by the bank include internet banking, mobile banking, forex trading, agent banking, ATM locator and KRA tax payments.
The company’s products are majorly personal and business banking. Consolidated bank also offers loans on mortgage financing that are designed to meet the needs of its customers who wish to in future own a place of their own. The loans cover finance for residential property both ready built and for construction, purchase of plot, equity release and project finance,

Requirements for employed persons

To qualify for Consolidated bank mortgage loans, you should meet the following requirements.
They include:

  • Latest three months’ payslips
  • Bank statements for the last six months
  • Copy of your KRA pin certificate
  • ID card or passport
  • Letter from your employer
  • Details of your next of kin.

The United Nations Federal Credit Union

United Nations Federal Credit Union (UNFCU) is a member-owned credit union for the United Nation’s community. The union was found in the year 1947 with over 155,000 members across the globe.
UNFCU offers mortgages in US Dollars to finance primary residences or owner-occupied second home within select areas that include Nairobi, Kiambu, Kajiado, and Machakos counties.
The loans include variable-rate mortgages of about three to five years. The lender also offers a fixed-rate mortgage with up to 15 years with an interest rate of about 6.99 to 8.99 per cent per annum.

Who is eligible for UNFCU Kenya mortgages?

To qualify for UNFCU mortgages in Kenya, you must:

  • Have an intention to occupy the property after being financed
  • You must not be a permanent resident of the United States or a UN employee with current professional or field service contracts earning income in an eligible currency.
  • You should also not be a UN General service staff or national professional officer in an eligible country or earning a substantial income currency.
  • You should also not be a United Nations retiree receiving a pension in an eligible currency.

Lastly, this list has been compiled to ease your search for a suitable home loan financier and may not be accurate to your liking.

Share on:

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.