Estimate your monthly loan repayments
Understand how much interest you will pay over time
Plan your down payment and loan structure
Compare different loan terms and interest rates
Make informed decisions before applying for financing
This is especially important in Kenya, where mortgage interest rates and loan terms can vary significantly between lenders.
How the Mortgage Calculator Works
The calculator uses your inputs to estimate your repayment based on standard mortgage formulas.
What you will enter:
Property price
Down payment (amount or percentage)
Loan term (in years)
Interest rate
Repayment type (reducing balance or flat rate)
What you will get:
Monthly repayment
Total loan amount
Total interest payable
Total repayment over the full term
Loan-to-value (LTV) ratio
Amortization schedule
Example Mortgage Calculation in Kenya
If you are buying a property worth KSh 10,000,000 with a 20% deposit, here is what happens:
Loan amount: KSh 8,000,000
Loan term: 20 years
Interest rate: 17.5%
Your estimated monthly repayment will be calculated instantly, helping you decide if the property fits your budget.
Understanding Key Mortgage Terms
Loan-to-Value (LTV)
This shows the percentage of the property financed by the loan.
Example: If you pay a 20% deposit, your LTV is 80%.
Reducing Balance vs Flat Rate
Reducing Balance
Interest is calculated on the remaining loan balance, making it more accurate and commonly used. Total interest reduces over time.
Flat Rate
Interest is calculated on the original loan amount. It is simpler but usually more expensive.
Amortization Schedule
This shows how your loan is repaid over time, including how much goes to interest, how much reduces your loan, and your remaining balance each year.
Mortgage Rates in Kenya
Mortgage interest rates in Kenya typically range between 12% to 18% per year.
Rates depend on:
Your income and credit profile
The lender
Loan term
Property type
Always confirm with your bank or lender for accurate rates.
How Much Deposit Do You Need in Kenya?
Most lenders require:
10% to 30% deposit
A higher deposit:
Reduces your monthly repayment
Lowers your total interest
Improves your chances of loan approval
Tips Before Taking a Mortgage
Compare different lenders
Ensure stable income
Check your credit profile
Budget for additional costs (legal, valuation, insurance)
Use this calculator to test different scenarios
Start Your Property Search
Once you understand your budget, explore verified listings on Mayor Listing.
Frequently Asked Questions
- How do I calculate mortgage payments in Kenya?
You can use a mortgage calculator by entering property price, deposit, interest rate, and loan term to estimate monthly repayments.
- What is a good mortgage interest rate in Kenya?
Mortgage rates typically range between 12% and 18%, depending on the lender and borrower profile.
- How much deposit is required for a mortgage in Kenya?
Most lenders require between 10% and 30% of the property value as a deposit.
- What is reducing balance interest?
Reducing balance interest is calculated on the remaining loan amount, meaning interest reduces over time.
- Can I afford a mortgage?
Use a mortgage calculator to compare your income with expected monthly repayments and determine affordability
Ready to find your home?
