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chepkel
#1 Posted : Thursday, May 06, 2010 1:28:47 PM
Rank: Member

Joined: 4/6/2010
Posts: 741
Location: Nairobi
Which is the best place to get a morgage.

Do they provide 100% financing??I Need to stop paying rent!!!!
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guru267
#2 Posted : Thursday, May 06, 2010 1:36:28 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
PLEASE!!! HFCK or S&L.... Liar Its shareholder bias but i'm sure they got some good rates
Mark 12:29
Deuteronomy 4:16
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chepkel
#3 Posted : Thursday, May 06, 2010 1:46:50 PM
Rank: Member

Joined: 4/6/2010
Posts: 741
Location: Nairobi
I've checked out S & L. I need to raise 10% of the total cost and then they will finance the rest. Hakuna institution inaweza kunipea 100% financing???
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guru267
#4 Posted : Thursday, May 06, 2010 2:00:25 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
chepkel wrote:
I've checked out S & L. I need to raise 10% of the total cost and then they will finance the rest. Hakuna institution inaweza kunipea 100% financing???


Sorry i didnt read the part where you wanted 100% financing.... no Mortgage house will give you that deal because it goes against the most basic risk management.... 90% is a very good deal
probably the best you'll ever see...
Mark 12:29
Deuteronomy 4:16
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chepkel
#5 Posted : Thursday, May 06, 2010 2:10:55 PM
Rank: Member

Joined: 4/6/2010
Posts: 741
Location: Nairobi
@Guru267 Great. I liked what they were offering. But i want to know what is out there so i can make a good decision. So far S & L is the most promising.
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Pablo
#6 Posted : Thursday, May 06, 2010 2:41:14 PM
Rank: Member

Joined: 3/17/2008
Posts: 567
Location: Nairobi
The Britak deal with HF and S&L can give you 100% where the 10% comes from your pension.

Does stanbic still give 100%. Check them out.
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J.J
#7 Posted : Thursday, May 06, 2010 5:16:28 PM
Rank: Member

Joined: 10/17/2009
Posts: 16

@chepkel you mean mortgage right? 100% financing is very risky to the financing bank. That is what killed the US financial institution. Banks see the zero down borrowers as non-commital.with no financial interest in the propety it's easier to walk away and even if you get one it will cost you dearly unless you are a MP of course.
small leaks do sink great ships...
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Euge
#8 Posted : Friday, May 07, 2010 6:39:39 AM
Rank: Elder

Joined: 8/4/2008
Posts: 2,849
Location: Rupi
@chepkel, did you also check with Housing Finance? How do they compare to S & L?
Lord, thank you!
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Amir
#9 Posted : Thursday, May 13, 2010 8:29:29 AM
Rank: New-farer

Joined: 3/15/2010
Posts: 88
Location: sudan
Chep
check with Gulf African Bank but the basic are:
- if salaried u shud have banked with them for atleast for six months.
- the house u want to buy should be within an area where they have atleast a branch so for instance currently they cant offer morgage in areas such as naks, nyeri etc
- house ownership 80:20(u as ownerof the hse)
- rate is fixed
enwei enquire more from them
good luck

The Brave may not live forever - but the cautious do not live at all: Richard Branson
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ECHOKENYA
#10 Posted : Thursday, May 13, 2010 1:57:04 PM
Rank: New-farer

Joined: 4/26/2010
Posts: 71
Location: Thika/Nairobi

They have the 3Plan Mortgage Concepts;

Startup Plan -its a mortgage product that offers a loan term of over 12 years and up to 20 years. Its basically attractive to young career persons who are taking their first mortgage you know.
They have the House Plan -its a mortgage product that offers a loan term of over 5 years and up to 12 years for those who can make large monthly intalments..may be you.
Ace Plan a mortgage product offering a loan term of up to 5 years,you may now as well do some more research and get tha most appropriate for your case.Applause
http://echoproperties.kbo.co.ke
Echo estate management Limited
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