Mortgage Calculator
Work out your monthly mortgage payment and the total upfront cost of buying a home in Kenya — deposit, stamp duty, attorney and registration costs — in Kenyan shillings. Free, no sign-up.
Purchase Details
Banks typically want 10–20%. A KMRC-backed loan on a home under the affordable-housing price cap can carry a lower fixed rate over a longer term than a standard bank mortgage.
Standard Kenyan mortgage rates have often been 13–18%. A KMRC-backed loan is lower and fixed. Check whether the rate is fixed or moves with the lender's base rate.
The buyer pays stamp duty: 4% of the value in a city or municipality, 2% outside. Due within 30 days of the transfer instrument. First-time buyers of an affordable-housing unit may be exempt.
Legal fees on the Advocates Remuneration Order scale (roughly 1–2%) plus 16% VAT, a registered valuation, land-search and Land Control Board consent fees, and registration fees.
Your Mortgage
Monthly Payment
Ksh 79,667
Ksh 6,800,000 loan · 13% · 20 years
💬 In Plain Words
To buy a home priced at Ksh 8,000,000 with a 15% deposit, you borrow Ksh 6,800,000 and pay about Ksh 79,667 a month for 20 years. Over the full term you pay Ksh 12,320,116 in interest. On the day you buy, you need Ksh 1,680,000 in cash — the deposit plus stamp duty and closing costs.
Cash Needed at Purchase
Estimate for educational purposes. Not included: mortgage protection and property insurance the lender requires, the exact VAT on professional fees, and KMRC or affordable-housing eligibility rules. Assumes one level-payment loan at a constant rate. Have the figures confirmed by your advocate and lender before you commit.
How the Mortgage Payment Is Worked Out
👋 Simple Explanation
A mortgage is a loan secured on the property. You put down a deposit, borrow the rest, and repay it with interest over 20 to 30 years. Early on, most of each payment is interest; later, most is principal. Paying a little extra each month, or making a lump sum when you can, cuts the total interest sharply because it shortens the term.
Payment = L × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]
Where L = loan amount, r = monthly interest rate (annual ÷ 12), and n = the number of monthly payments (term in years × 12).
Costs and Rules When Buying a Home in Kenya
The big upfront costs are the deposit (usually 10–20%), stamp duty paid by the buyer (4% of the value in a city or municipality, 2% outside), legal fees on the Advocates Remuneration Order scale (roughly 1–2%) plus 16% VAT, a registered valuation, and land-search, consent and registration fees. Stamp duty is due within 30 days of the transfer instrument. For a lower monthly payment, ask lenders about a KMRC-backed mortgage on a home under the affordable-housing price cap, or register on Boma Yangu for a tenant-purchase unit under the Affordable Housing Programme. Add every cost up before you decide how much you need saved.
Frequently Asked Questions
- What does it cost to buy a home in Kenya besides the price?
- On top of the deposit, the buyer pays stamp duty — 4% of the value in a city or municipality, 2% elsewhere — plus legal fees on the Advocates Remuneration Order scale (roughly 1–2%) with 16% VAT, a registered valuation, land-search and Land Control Board consent fees, and registration fees. Stamp duty is due within 30 days of the transfer instrument. Estate agent commission is normally the seller's cost.
- How big a deposit do I need for a mortgage in Kenya?
- Commercial banks typically want 10–20% of the price as a deposit, and mortgage rates have historically been high (often 13–18%). Loans backed by the Kenya Mortgage Refinance Company (KMRC) — offered through banks, microfinance banks and SACCOs for homes under the affordable-housing price cap — carry a lower fixed rate over a longer term. Your repayment usually cannot exceed about a third of your gross income.
- What is the Affordable Housing Programme and how does it help?
- It is the government programme funded partly by the 1.5% Affordable Housing Levy. You register on the Boma Yangu portal, pick a project and pay a monthly deposit; units are allocated by ballot and usually sold on tenant-purchase terms — monthly instalments over many years instead of a large deposit and a bank mortgage. Separately, KMRC makes ordinary mortgages on lower-priced homes cheaper and longer.