10 Banks In Kenya That offers the Cheapest Mortgage Rates
Owning a home is a lifelong dream of every person. People take pride in owning a home; it is considered a measure of success and a significant milestone in one's life. Unfortunately, due to the high cost of buying a home in Kenya, this remains an out of reach dream to many. According to the Kenya Bankers Association, the average home value in the country was 11 million in 2019. However, thanks to several cheap mortgage rates available in Kenya today, owning a home is now very possible. A mortgage is a loan by which the real estate or the property is used as collateral. The lender (Bank) and the borrower (you) enter in to an agreement where you as the borrower will be given some amount of money to build the house and then pay back the loan at an accrued interest over a period of time. Before you apply for a mortgage in a particular bank, it's vital to carry out in-depth research on several banks and know their interest rates so you can choose the most competitive one. N