Mortgage

Start the journey to homeownership with a DTB Mortgage! This product is available to both employed and self-employed individuals and has a twenty year repayment period.

  • Purpose:
    • Purchase of new / existing residential houses
    • Renovations, repairs or extensions of existing unencumbered property
    • The takeover of existing housing loans from other financial institutions
  • Location - properties located in cities and major municipalities
  • Currency - LCY
  • Minimum credit limit - Kshs. 1 million
  • Maximum credit limit - Kshs. 40 million
  • Minimum term - one year
  • Maximum term - twenty years and no later than the 60th birthday or date of retirement whichever comes first
  • Debt burden ratio - no more than 50% of net salary for salaried individuals
  • Security/collateral - charge over property
  • Loan To Value (LTV) ratio of collateral - 90% of cost price / market value whichever is lower
  • Repayment - monthly principal and interest
  • Interest rate - CBR + 4% (LCY)
  • Fees / commission - appraisal fees 2% and 1% on the anniversary
  • Insurance -
    • Fire & burglary protection cover
    • Mortgage protection cover for the borrower
  • For employees
    • Copy of PIN & national ID
    • Must have worked with their current employers for two years
    • Must be confirmed in their present positions
    • Must open / maintain account(s) with DTB where their salary is channeled by their employer
    • Statement of net asset & income
    • Reference letter from employer and / or bankers
    • Bank statements for the last twelve months
    • Last repayment date not to exceed the retirement age or their 60th birthday, whichever comes first
    • Fill in an application form
  • Self-employed & business entities
    • Bank statements for the last twelve months
    • Must open / maintain account(s) with DTB
  • Other terms & conditions applicable
    • Copy of duty executed sale agreement duly signed dated and stamped
    • Valuation report from an authorised valuer
    • Letter of the offer between seller & buyer
    • Certified copy of title deed
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