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March 17, 2026
2h ago

Ministry Explains Interest Rate Charges & 3 Payment Options for Affordable Houses

Ministry Explains Interest Rate Charges & 3 Payment Options for Affordable Houses

The Ministry noted that these measures will help bridge the country’s housing gap while ensuring that more Kenyans can afford dignified and secure living conditions...

✨ Key Highlights

Principal Secretary Charles Hinga has clarified the interest rate structure for the Affordable Housing Programme, emphasizing a reducing balance approach to minimize financial burden on homeowners.

  • Interest is charged only on the remaining loan balance, not the original amount, with rates as low as 3% for social housing and 6% for affordable housing.
  • Key individual involved is PS Charles Hinga of the Ministry of Lands and Housing.
  • Flexible payment options include outright purchase, mortgage financing, and the Tenant Purchase Scheme (rent-to-own).

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