Mortgage
Start the journey to homeownership with a DTB Mortgage! This product is available to business owners, employed and self-employed individuals and has a twenty year repayment period.
Account Overview
Start the journey to homeownership with a DTB Mortgage! This product is available to business owners, employed and self-employed individuals and has a twenty year repayment period.
What You Need to Open an Account
The requirements are as follows:
For employees
Copy of PIN & national ID
Must have worked with their current employers for two years
Must be confirmed in their present positions
Must open / maintain account(s) with DTB where their salary is channelled by their employer
Statement of net asset & income
Reference letter from employer and / or bankers
Bank statements for the last twelve months
Last repayment date not to exceed the retirement age or their 60th birthday, whichever comes first
Payslip for the last 3 months for salaried borrowers
Self-employed & business entities
Bank statements for the last twelve months
Must open / maintain account(s) with DTB
Other terms & conditions applicable
Copy of duty executed sale agreement duly signed dated and stamped
Valuation report from an authorised valuer
Copy of offer letter or draft agreement
Certified copy of title deed
Account Features
Access a comprehensive suite of banking services and tools:
Purpose:
Purchase of new / existing residential houses
Renovations, repairs or extensions of existing unencumbered property
The takeover of existing housing loans from other financial institutions
Location - properties located in cities and major municipalities
Currency - LCY
Minimum credit limit - Kshs. 1 million
Maximum credit limit - Kshs. 100 million
Minimum term - one year
Maximum term - twenty years and no later than the 60th birthday or date of retirement whichever comes first
Debt burden ratio - no more than 50% of net salary for salaried individuals
Security/collateral - charge over property
Loan To Value (LTV) ratio of collateral - 90% of cost price / market value whichever is lower
Repayment - monthly principal and interest
Interest rate - prevailing market rate
Fees / commission - appraisal fees 2% and 1% on the anniversary
Insurance -
Fire & burglary protection cover
