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reithi
#11 Posted : Thursday, May 13, 2010 7:43:39 PM
Rank: Member

Joined: 1/12/2007
Posts: 75
It is unlikely any lender will give 100%. CFC Stanbic tried a few years back but withdrawn after burning its fingers. There is a rumour it is back but with more stringent requirements.

HF has a complex product and keeps shifting goal posts on requirements. They have a poor customer service record specifically on application processing and construction finance instalments which can take long without constant follow-up.

I recommend S&L to all my customers cause they have the best structured mortgage product in the market. The terms are simple and straight forward. Besides, they also offer construction finance.

Alternatively, if you have some savings with a SACCO, you can try KUSSCO. You can check them out on [url=http://www.kuscco.com/index.php?option=com_content&task=view&id=33&Itemid=28]

Happy hunting smile
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  | | Edit by user: Friday, May 14, 2010 7:15 AM | Reason: Not specified
kyt
#12 Posted : Friday, May 14, 2010 5:33:27 AM
Rank: Elder

Joined: 11/7/2007
Posts: 2,182
@ reithi, spot on and nice info too!
LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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chepkel
#13 Posted : Monday, May 17, 2010 7:45:18 AM
Rank: Member

Joined: 4/6/2010
Posts: 741
Location: Nairobi
Thank you for the very good information. I have just started working and i would like to start planning to own my home. Paying rent really sucks and landlords can be really stupid. I want somewhere that will be all mine and i wont feel the pinch of paying since i know i will eventually own it.

Thank you again for the info. I will update you all after i make my rounds.
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fellifel
#14 Posted : Monday, May 17, 2010 8:57:03 AM
Rank: New-farer

Joined: 5/16/2010
Posts: 14
Location: Nairobi
Amir wrote:
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



I love the concept they have fo islamic banking,
after some time, if you are unable to pay the monthly rates the house is sold at the current market value and you are refunded back the money you paid them.
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Keilysmith
#15 Posted : Tuesday, August 10, 2010 11:15:47 AM
Rank: New-farer

Joined: 8/10/2010
Posts: 5
A mortgage is a loan or lien on a property or a house to pay over a period of time. Think of it as a personal guarantee to repay the borrowed money to buy a house. Mortgages of all shapes and sizes, each with advantages and disadvantages. Be sure to select the mortgage that best suits your needs, your future and your financial situation.
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Pablo
#16 Posted : Tuesday, August 10, 2010 1:32:59 PM
Rank: Member

Joined: 3/17/2008
Posts: 567
Location: Nairobi
@Keilysmith
Are you serious???

Defining a mortgage after 15 posts discussing the issue?
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m water
#17 Posted : Tuesday, August 10, 2010 4:59:23 PM
Rank: Member

Joined: 4/2/2009
Posts: 87
KUSCCO will give a loan repayable at 14% REDUCING BALANCE. this effectively works out to around 9% ama? the loan is upto 5X your savings. hmmmmmmmm
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tony stark
#18 Posted : Tuesday, August 10, 2010 10:16:26 PM
Rank: Veteran

Joined: 7/8/2008
Posts: 947
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???

If you cant raise the 10% will you handle the repayments??
Pablo wrote:
@Keilysmith
Are you serious???
Defining a mortgage after 15 posts discussing the issue?

I think keilysmith is correct because 15 post in people have been discussing "morgage"

chepkel wrote:
Which is the best place to get a morgage.
Do they provide 100% financing??I Need to stop paying rent!!!!


@ Echo who is they?? and what are there rates?

ECHOKENYA wrote:

They have the 3Plan Mortgage Concepts;


@ Amir what are the rates?? Their website doesn't have any info!
@Reithi great information. I think there are pro and cons to getting sacco loans but I think the pro usually outweigh the cons.
The house master plan is great except you have to pay back in 5 years, and interest in higher!
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  | | Edit by user: Tuesday, August 10, 2010 10:17 PM | Reason: Not specified
kenstat
#19 Posted : Wednesday, August 11, 2010 2:53:39 AM
Rank: New-farer

Joined: 12/31/2009
Posts: 43
Location: Tundra
[quote=tony stark]
Quote:


[quote=Pablo]@Keilysmith
Are you serious???
Defining a mortgage after 15 posts discussing the issue?

I think keilysmith is correct because 15 post in people have been discussing "morgage"


Kwani your mind can't process bad spelling? smile
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mukiha
#20 Posted : Wednesday, August 11, 2010 8:31:33 AM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
If you are looking for 100% funding, then you don't deserve the funding! In my village they say that God only helps those who help themselves!

Check out also, Eco Bank [used to be EABS and have expanded big time with Nigerian cash...dying to dish it out] and Co-Op Bank.
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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