We offer a 3 or 5-year variable rate mortgage. If you choose either of these mortgages, the interest rate you pay will be subject to change after 3 or 5 years and each year thereafter, which will impact the monthly mortgage payment you pay after the initial fixed period.
For your peace of mind, we have periodic and lifetime rate caps that go into effect after the fixed period to limit the amount by which the interest rate can go up or down.
The initial interest rate on a variable rate mortgage is generally lower than that of a fixed rate mortgage which may make this a good option for you if you expect your earnings to increase in the future, or if you are seeking a short-term financing solution that aligns with your assignment timeframe.
Qualified borrowers can use a variable rate mortgage to finance up to USD 700,000 with a down payment as low as 20%. With at least a 30% down payment, a variable rate mortgage can be used to finance between USD 700,000 and USD 1,000,000.
To learn more about our Kenya mortgage products, please contact us:
email@example.com or call +254 20 7621039.