Co-op Bank Rolls Out Affordable Housing Loans for Aspiring Home Owners

Co-op Bank customers are now one step closer to their dream of owning their own homes. In a partnership with Kenya Mortgage Refinance Company (KMRC) signed on March 23rd, Co-op Bank has rolled out an affordable housing financing scheme.

Customers now have access to mortgage financing for either a complete, newly-built residential house or purchase and build on a plot of their choice.

How does a Customer become Eligible for the Mortgage?

It’s quite straightforward. As long as you have a Salary or Savings Account with Co-op Bank, you are good to go. The other specifics are:

  • Six (6) months’ banking with Co-op Bank
  • A maximum household gross income of Ksh150,000.
The Head of Legal Services at Kenya Mortgage Refinance Company Elisha Nyikuli, the Director, Corporate & Institutional Banking at Co-op Bank Jackie Waithaka & the CEO National Co-operative Housing Union Mary Mathenge at the stakeholder’s meeting.

What are the Eligible Products?

  • Purchase of a ready-to-use residential house.
  • Purchase a plot: Buy and build arrangement.

What are the Terms of the Loan Units to be financed?

This is what you need to know about the housing mortgage financing package:

  • A loan financing for one (1) unit property under purchase is offered with a considerate interest of 9.9% per annum on a reducing balance.
  • The loan attracts a one-off facility fee of 2% of the loan amount.
  • The maximum loan tenure is 15 years for employed applicants, and 10 years for self-employed applicants.
  • For properties around the Nairobi Metropolitan, minimum loan amount is Ksh.500,000 and maximum limit at Ksh.6 Million.
  • For customers looking to invest in real estate outside the Nairobi Metropolitan, they have a maximum loan limit set at Ksh.5 Million.

Besides, Co-op Bank offers flexibility in financing through loan top ups. A loan top-up under the commercial rate is allowable for a customer upon repaying the initial loan for at least 12 months.

Apply now via goodhome.co.ke or visit and speak with bank representatives at your nearest Co-op Bank branch.

Co-operative Bank lights up the property market by launching the innovative Good-Home ‘Property Hub’

Co-operative Bank has launched The GoodHome Mortgage Property Hub where clients can access bank-approved properties for residential and commercial use.

This is a one-stop shop that will serve the twin purpose of giving developers financed by the bank a ready market for their properties, while at the same time giving buyers a wide range of properties to choose from.

Chris Chege, the Head of Mortgage Finance at Co-operative Bank and Jacquelyne Waithaka, the bank’s Director of Corporate & Institutional Banking launch the GoodHome Property Hub at KUSCCO Center, Upperhill on 28th September 2020. Looking on are Patrick Macharia, the Property Hub Manager and other members of staff who serve customers at the Property Hub.

Customers will access property solutions at both the physical office located at KUSCCO Center, Upperhill and virtually through goodhome.co.ke.

The hub will also provide access to financing through the GoodHome Mortgage which is available in all major currencies to Kenyan Individuals, SMEs, Corporate companies and Co-operatives including those in the Diaspora.

Our team of experts have also developed a wide range of solutions for specialized groups such as landlords, contractors and Co-operative Societies in line with the affordable housing program which is one of the key pillars in the Government’s Big 4 agenda.

Jacquelyne Waithaka, the Director of Corporate & Institutional Banking at Co-operative Bank and Chris Chege, the Bank’s Head of Mortgage Finance launch the GoodHome Property Hub at KUSCCO Center, Upperhill on 28th September 2020. Looking on are Patrick Macharia, the Property Hub Manager and other members of staff who serve customers at the Property Hub.

Co-operative Bank is one of the leading mortgage financiers in Kenya and has provided mortgage solutions since 2009.

The property hub further enhances the bank’s capacity to serve all sectors of the real estate market, in line with its mission of providing innovative and relevant services to a wide range of retail and corporate customers.