Kenya mortgage calculator
in KES

Enter the property price in KES, choose your deposit percentage, interest rate, and loan term. The calculator updates your estimated monthly repayment, total interest, and cash needed upfront (deposit, stamp duty, legal fees, and valuation) using reducing-balance maths common to Kenyan banks and SACCOs.

Most Kenyan banks and SACCOs ask for a deposit of 10–20% of the property price, with 10% common for salaried buyers and higher deposits for self-employed applicants or higher-value homes. A larger deposit lowers your loan amount and monthly repayment.

Most Kenyan mortgages are variable: a reference rate, usually the Central Bank Rate (8.75% since February 2026, held on 7 October 2026), plus a premium the bank sets for each borrower. The Central Bank's 2025 mortgage survey put the average mortgage rate at 13.5%, ranging from 7.5% to 19.6%. In October 2026 banks reported average mortgage rates from about 14% to 19% on the Total Cost of Credit portal. Loans refinanced through the Kenya Mortgage Refinance Company (KMRC) are fixed at a single-digit rate. Rates are charged on a reducing balance, not a flat rate, and your offer letter is the figure that counts.

Yes. Under section 15(3)(b) of the Income Tax Act, interest on a loan used to buy, build or improve the home you live in comes off your taxable income, up to KES 360,000 a year (KES 30,000 a month). The loan must come from a bank, mortgage company, insurer, building society, the National Housing Corporation or a SACCO. What it saves you is the deductible interest times your top PAYE rate: at 30%, the full KES 30,000 is worth KES 9,000 a month. The Affordable Housing Relief ended on 27 December 2024.

A fixed-rate home loan from a bank, SACCO or microfinance bank that refinances it through the Kenya Mortgage Refinance Company. Under KMRC's criteria effective 1 July 2025 the loan can be up to KES 10,500,000 anywhere in Kenya, on a titled home worth up to KES 15,000,000 that you will live in, for up to 25 years, with repayments no more than two thirds of gross monthly income. The rate is single digit and fixed for the whole term. You apply to a participating lender, not to KMRC.

Repayments use the standard amortising loan formula: the loan amount, the monthly interest rate (annual rate ÷ 12), and the number of monthly payments (term in years × 12). Early payments are mostly interest; over time more of each payment goes to principal. This Kenya mortgage calculator applies that formula in KES.

Interest is charged on the outstanding balance each month, so the interest portion shrinks as you repay. It is the standard for Kenyan mortgages — and why a “flat rate” quote that looks lower can actually cost far more over the term.

Plan for total closing costs of roughly 7–11% of the price, on top of your deposit: stamp duty (4% of the assessed value in urban areas, 2% rural), legal and conveyancing fees set by the Advocates (Remuneration) Order — about 2% up to KES 5 million and 1–1.5% above, plus 16% VAT — a registered valuation (0.25–1%), registration charges, and any bank arrangement fee. Budget for these upfront.

Yes. Many Kenyans finance homes through SACCOs, which can offer competitive rates and flexible terms to members, sometimes against savings or shares. Compare the total cost (rate plus fees) across banks and SACCOs before deciding.

No — it is a free planning estimate using reducing-balance maths and typical Kenyan closing costs. Your bank or SACCO’s offer will depend on their rate, fees, insurance requirements, and your credit profile.