This is to cater for the sales price plus part of the closing cost i.e. Stamp duty and legal fees to facilitate home ownership.
- Loan tenure – up to 25 years.
- Facility fees- 1%
- Debt to Income Ratio : Not exceeding 60% of Net Salary
- Minimum loan amount : KShs 1 million
- Maximum amount: KShs.20M
- Free cover limit: loan amount of KShs 20 million and below
- Interest rates: Pegged to CBR for local currency
- Flexible repayment terms
- When assessing ability to repay (joint, rental and alternative incomes will be considered). Joint income from spouse, siblings & children will be considered in assessing repayment ability
- Mortgage Protection Insurance (MPI) cover limit up to Kes.20M without need for medical checkup, retrenchment cover and social perils cover included
- Competitive Interest rates
Access to all other CBA banking products (e.g. Overdrafts, credit cards, current account, Mobile and internet banking.)
- Proof of income
- Proof that you can meet related costs e.g. Stamp duty, lawyers’ fee, valuation report etc.
- Sale agreement
Rates & Fees
- Competitive interest rate.
- Facility Fee-1% of loan amount
- Legal Fees
- Valuation fees
- Stamp duty (4% of cost of property or value on the open market)
- Excise Duty
- Insurance fees i.e. Domestic package, Mortgage protection cover and Collateral Replacement Indemnity Insurance cover.