Home Purchase loan
If you have decided that it’s time to own a home, then CBA’S Home Loan will put the key into your hands-sooner than you think, with minimum fuss. You can Buy a home, Refinance your existing Mortgage or Move your existing mortgage balance to CBA all at competitive interest rates and on reducing balance
- Borrow in KES, USD, EURO, GBP
- Your income/salary currency should match the respective borrowing currency
- Financing up to 80% of Property value or Selling Price whichever is lower for KShs. mortgages
- Financing up to 80% of Property value or Selling Price whichever is lower for foreign currency mortgages
- Financing available for residential units both complete and off plan. An occupation permit for the property will be requisite to disbursement of funds.
- Competitive interest rates on reducing balance
- Loan tenure of up to 15 years for KShs. Mortgages and 10 years for Foreign currency mortgages, subject to retirement age
- Arranged legal and valuation services (fees applicable)
*Foreign currency mortgages are subject to foreign currency exchange movements
- Your Deposit/Equity contribution
- Arrangement fees of loan amount advanced – 1% for KShs. Mortgages and 1.5% for Foreign currency Mortgages
- Stamp Duty and Stamp duty on charge fees – Statutory fees paid via Lawyers
- Legal fees – for conveyance and registration services
- Valuation fees – for Valuation services
How to apply for a Home Purchase Loan
- A duly filled and Signed Home Loan application and Insurance forms
- An executed Sales agreement signed by you and your vendor
- Copy of a Notarized Valid Kenyan Passport (Top inner cover, Bio Data and Photo pages)
- Notarized Evidence of current residential address (Driving license copy or a current utility bill)
- Copy of your Work Permit or Residential Permit
- Notarized 6 months most recent payslips/Paystubs
- Notarized 12 months most recent bank statements where salary/remuneration is paid into
- A Letter of introduction from employer providing you designation, remuneration, retirement age (where applicable), terms of employment (contract/permanent) and allowances (where applicable).
- Copy of your KRA Pin Certificate
- Credit Reference Bureau (CRB) reports from the host country to confirm credit history.
NB: Identification and supporting documents must be Notarized by a registered notary or certified by your banker or certified by an authorized official of the Kenyan Embassy. The Notary information or stamps should be clear and legible.