Home Loan Calculator — Kenya
Estimate your monthly mortgage repayment in shillings at current bank rates — and see how much cheaper a KMRC-backed loan is. No signup, no account needed.
Current rates (≈ 2026 — CBK rate 8.75%; verify with your bank)
| Lender / type | Typical rate | Notes |
|---|---|---|
| KCB | 12–16% | Largest bank, wide reach |
| Equity Bank | 13–16% | Popular mortgages |
| Absa Kenya | 13–16% | Competitive packages |
| Stanbic | 13–16% | Salaried-friendly |
| KMRC-backed | 9–11% | Affordable Housing scheme |
Major lenders
- KCB — Kenya's largest bank, broad mortgage access and long tenures
- Equity Bank — popular home loans and developer partnerships
- HFC (HF Group) — mortgage specialist
- Absa & Stanbic — competitive salaried mortgages
- KMRC — wholesale refinancing that funds cheaper 9–11% affordable mortgages via member banks/SACCOs
The real cost — a worked example
Example: KSh 5,000,000 mortgage at 14% for 20 years
- Monthly payment: KSh62,176
- Total paid over 20 years: KSh14,922,250
- Total interest: KSh9,922,250
- A KMRC-backed loan near 10% on the same amount saves a large share of the interest — ask your lender if you qualify.
KMRC affordable mortgages
- The Kenya Mortgage Refinance Company (KMRC) refinances banks and SACCOs so they can offer single-digit fixed rates (≈9–11%) on qualifying affordable-housing loans.
- Commercial mortgages run 12–16%, so the KMRC route can save you a substantial amount over 20 years.
- Loans typically fund up to 90% of value; budget for valuation, legal and stamp duty costs on top.
A real-data rate check: home loan rates in Kenya (2026)
Kenyan mortgage pricing moves with the Central Bank Rate (CBR) and each bank's own risk appetite. As of July 2026, the Central Bank of Kenya (CBK) reported an economy-wide average commercial bank lending rate of 14.39%, while the CBR itself has been held at 8.75%-9.25% through 2025-2026. As of May 2026, KCB Bank and HF Group were quoted as the cheapest standard mortgage options at around 13.5%, with Co-operative Bank close behind at roughly 13.75%. Absa Kenya and Stanbic Bank were competitive around 12.5%-14% for well-qualified borrowers, putting most standard mortgages between roughly 12.5% and 16% per annum. Headline promotional campaigns (e.g. a limited-time 8.9% fixed KCB offer) are capped in loan size and revert to standard pricing once the campaign ends.
A more realistic example: a KES 5,000,000 mortgage over 20 years (240 months) at a representative standard rate of 13.5% per annum gives, using M = P·r·(1+r)^n / ((1+r)^n − 1) with r = 0.01125, a monthly payment of approximately KES 60,378. Over the full term that is roughly KES 14.5 million repaid on a 5 million loan.
Frequently Asked Questions
How is mortgage repayment calculated in Kenya?
Using the reducing-balance formula P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1). Most Kenyan mortgages are variable and move with the bank's base rate and the CBK policy rate.
What is the current mortgage rate in Kenya?
Commercial mortgage rates are roughly 12–16% per year in 2026 (CBK rate 8.75%). KMRC-backed affordable mortgages are cheaper at about 9–11% for qualifying buyers.
What is KMRC?
The Kenya Mortgage Refinance Company provides low-cost long-term funds to banks and SACCOs so they can offer affordable single-digit mortgages under the Affordable Housing Programme. Ask a member lender if you qualify.
How much deposit do I need?
Banks typically finance up to 90% of the property value, so a 10% deposit plus valuation, legal and stamp-duty costs. A larger deposit lowers your rate and total interest.
Can I repay my mortgage early?
Yes. Early or extra repayments cut total interest significantly. Check whether your lender charges an early-settlement fee, especially on fixed-rate facilities.
What mortgage interest rate should I use in the calculator for Kenya in 2026?
For a realistic estimate, use a rate in the 13%-14.5% range, which reflects standard (non-promotional) mortgage pricing at banks like KCB Bank, Equity Bank, and Co-operative Bank as of mid-2026. Avoid using short-term promotional teaser rates for long-term planning, since these are capped in amount and revert to standard pricing after the promotion ends.
Why do different banks in Kenya quote different mortgage rates?
Kenyan banks price mortgages based on their own cost of funds, the Central Bank Rate (held between 8.75% and 9.25% through 2025-2026), the borrower's credit profile, and loan-to-value ratio. As of 2026, quoted ranges span roughly 12.5% (Absa Kenya, Stanbic Bank for premium borrowers) up to 16% for standard borrowers, while the CBK's economy-wide average lending rate across all loan types was 14.39% in July 2026.
Related calculators
Sources
Central Bank of Kenya (accessed September 2026, data through July 2026): Commercial Banks Weighted Average Rates. Mortgage.co.ke (May 2026): Compare Mortgage Rates Kenya. See our methodology and editorial policy for how we source and update this data.