Kimisitu DT SACCO unveils 9% mortgage product to boost affordable homeownership
Kimisitu DT SACCO has launched a new mortgage product in Kenya offering 9% interest rates for up to 25 years. The initiative, supported by the Kenya Mortgage Refinance Company, aims to increase homeownership accessibility for its members.
Why it matters
This initiative highlights the growing role of SACCOs in addressing the affordable housing deficit in emerging markets through innovative financing.
Kimisitu DT SACCO has launched a new affordable mortgage product in partnership with the Kenya Mortgage Refinance Company (KMRC), offering members long-term financing aimed at making homeownership more accessible.
The launch took place during the Nairobi Members' Education Forum and marks a major milestone in the SACCO's efforts to support financial independence and expand access to affordable housing.
The new mortgage solution allows eligible members to access financing of up to Kes.10.5 million at an interest rate of 9% per annum.
The facility offers repayment periods of up to 25 years and financing of up to 105% of the property's value for the purchase or construction of residential homes.
Speaking during the launch, Kimisitu DT SACCO Acting Chief Executive Officer Catherine Odhiambo described the initiative as a landmark achievement for the institution.
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