If you’ve been dreaming of owning a home in Kenya, the Kenya Mortgage Refinance Company (KMRC) is changing the game. With mortgage rates rising elsewhere, KMRC offers a more affordable way to finance your home, making homeownership a real possibility for many Kenyans.
How KMRC Makes Mortgages More Affordable
Unlike traditional mortgage lenders that charge higher interest rates, KMRC works with banks, SACCOs, and microfinance institutions to provide long-term, fixed-rate loans at much friendlier rates.
Right now, KMRC-backed mortgages hover around 9.5% interest a big relief compared to the market average of about 14.3%.
But it’s not just about rates. KMRC offers longer repayment terms, averaging nearly 12 years, so monthly payments don’t crush your budget.
Plus, the maximum loan amount has been bumped up to 10.5 million Kenyan shillings, helping cover a wider range of housing needs.
Who Benefits from KMRC Mortgages?
KMRC is targeting middle to low-income earners, expanding eligibility to anyone earning up to 200,000 shillings a month. This means more Kenyans now have a chance to apply for a mortgage that fits their financial reality.
Since its launch, KMRC has refinanced thousands of mortgages, helping over 15,000 people move into their own homes. Beyond the personal impact, these housing projects have created nearly 10,000 jobs, fueling economic growth along the way.
How to Get Started with KMRC
Ready to explore your options? Here’s how to jump in:
- Find a Primary Mortgage Lender partnered with KMRC—major banks and SACCOs are great places to start.
- Check if you meet the income and eligibility criteria.
- Use the KMRC home loan calculator online to get a rough estimate of what you can afford.
- Reach out directly to KMRC for guidance and support.
Why This Matters
With Kenya’s housing needs growing every year, KMRC’s affordable mortgage solutions are a breath of fresh air for many hopeful homeowners. By offering lower rates and longer repayment periods, KMRC is helping turn the dream of owning a home into a reality.
Thinking about buying a house? Keep an eye on KMRC it might just be the key to your new front door.
For more info, visit the KMRC website and take your first step toward homeownership today.
