BANK

Mortgages

Interested in:

Affordable Housing Scheme Home Loan

The home loan under the affordable Housing scheme targets a lower income bracket of earners. It makes the journey to home ownership a reality for all. We make it possible for you to purchase your residential home from designated developments.

Benefits

Benefits

Mortgage Requirements - Employed Person/s (Purchase)

Pre-approval Documentation

 

Documentation Pre-approval

1.

Stamped Pay slips from the employer for the latest 3 months

2.

Stamped Bank statements for Non- KCB account holders [6Months]

3.

Loan Application Form Duly completed & signatures witnessed

4.

Copy of ID 

5.

Copy of employment Contract OR Letter from employer confirming employment terms, length of service and retirement age.

6.

Copy of detailed CV if on contract

7.

Copy of sale agreement or Offer Letter from seller also indicating account details for payment

8.

Positive CRB search Report by KCB Bank official

9.

KCB Salary Account to be opened

10.

One passport size photograph

11.

Copy of title/lease contract for property being purchased

12.

Valuation Report from a valuer to be advised by KCB.

13.

Loan Balance Certificate / Loan clearance certificate where applicable

14.

You can commit up to 50% of your net income to the mortgage

 

  1. Post – Approval Documentation

 

 

 

Post Approval

1.

Notary payment for offer letter - RWF 18,000

2.

Notary payment for Mortgage Contract - RWF 18,000

3.

Payment for Abstract of Mortgage Agreement - RWF 15,000

4.

Payment of Registration Fees – RWF 20,000

5.

Payment of Transfer fees – RWF 30,000

6.

Payment of Comprehensive and Life insurance for one year upfront (As per KCB approved provider)

7.

Payment of 2% commitment Fees

9.

Undertaking from employer to remit Salary to KCB till full repayment of facility

10.

Joint Surety

11.

Marital Status Certificate

12.

Updated valuation report upon successful transfer

13.

Funds to be remitted to sellers account via RIPPS

 

Additional Construction Documentation

1.

Valuation Report from a valuer to be advised by KCB indicating value for plot, works done and works to be done (Bills of quantity).

 

Building permit

2.

Approved building plans (duly stamped)

3.

Approved structural drawings (duly stamped) where applicable

4.

Deed plan

5.

Payment of 2.5% commitment Fees

 

Mortgage Documentation For Self Employed Persons

  1. Duly completed application form
  2. Copy of National ID and Registration certificate
  3. Audited Books of Accounts for last 3 years
  4. Account Turnovers (Banking History) for last 12 months; KCB and Other Banks
  5. Full details of all Borrowings and Facilities Advanced from other institutions
  6. Copy of RRA TIN Certificate

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