Every mortgage calculator gives you a monthly repayment. That is the easy number, and it is the one that makes the house look affordable. Below it are the four numbers that decide whether it really is.
That choice sets the stamp duty used further down. Rates and fees vary by lender and by advocate, so treat every figure here as an illustration rather than a quote. Most Kenyan mortgages carry a variable rate, which is why the rate-rise section below matters.
Add the deposit to everything you will repay, and you get the real price of owning it. This is the number to compare against rent.
These land before you get the keys, and almost nobody budgets for them. They are the single most common reason a Kenyan house purchase stalls at the last moment.
| Before you get the keys | Estimate |
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Most Kenyan lenders will not let repayments exceed about a third of your gross monthly income. That rule, not the house price, is what usually decides whether you qualify.
Most mortgages in Kenya move with the market. If your rate rises, your repayment rises with it — and you have already bought the house. Here is what that would feel like.
| If the rate becomes | Monthly | More per month | Extra interest over the term |
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Early repayments are almost entirely interest. The bank gets paid first; your share of the house builds slowly and only speeds up later.
| Year | Paid in | Off the loan | To interest | Still owing |
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This is an illustration, not an offer. It assumes a reducing-balance mortgage with equal monthly repayments at a fixed rate. Upfront costs are typical ranges only: stamp duty, legal fees, valuation and bank charges vary by property, lender and advocate, and duty is assessed on the government valuation rather than the price you pay. Property and life cover premiums are excluded from the monthly figure. Your lender's and advocate's numbers are the ones that count.