Homeownership is a dream for many Kenyans, but for years, high financing costs and limited access to affordable mortgages has kept that dream out of reach.
To help make this dream a reality, Kimisitu DT Sacco has launched a single digit Affordable Mortgage financing in partnership with the Kenya Mortgage Refinance Company (KMRC). The launch was held during the Nairobi Members’ Education Forum, introduces long-term mortgage financing solution designed to help member with affordable, flexible, and sustainable financing options.
The new mortgage solution is designed to help members transition from renting to owning homes by providing long-term, affordable financing tailored to their housing needs.
Through this partnership, eligible members can access mortgage financing of up to Ksh. 10.5 million at an interest rate of 9% per annum, with flexible repayment periods of up to 25 years. Members can also benefit from financing up to 105% of the property’s value, making it possible to finance the purchase or construction of residential homes while covering related costs. Speaking during the launch, Our Acting CEO CPA. Catherine Odhiambo described the partnership as a transformational step towards making homeownership a reality for more members.
“This is more than a new product; it is a demonstration of our commitment to making homeownership genuinely affordable for our members,” Catherine said.
In addition to the partnership with KMRC, Kimisitu DT Sacco has enhanced members’ borrowing capacity by introducing an industry-leading loan multiplier of up to seven times the member’s deposits. This enhancement enables more members to qualify for higher-value mortgages while still enjoying affordable monthly repayments and extended repayment period of 25 years.
According to the Acting CEO, the combination of financing of up to Ksh. 10.5 million, a 7x loan multiplier, financing up to 105% of the property value, and repayment periods of up to 25 years positions the product among the most competitive mortgage solutions available within the Sacco movement.
Beyond introducing the new mortgage products, the Nairobi Members’ Education Forum also equipped members with valuable financial knowledge. Participants received financial literacy training and practical guidance on the mortgage application process, eligibility requirements, and the long-term benefits of responsible housing finance.
The launch reflects Kimisitu DT Sacco’s continued commitment to delivering innovative financial solutions that improve members’ quality of life while supporting Kenya’s broader affordable housing agenda. By making mortgage financing more accessible, the Sacco is helping members move closer to achieving one of life’s biggest milestones owning a home.
As Kimisitu DT Sacco continues to innovate and respond to the evolving needs of its members, the partnership with KMRC represents more than a financial product. It is an opportunity for members to build lasting wealth, secure their future, and turn the dream of homeownership into reality.
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