Stima Sacco Affordable Housing Mortgage Launch

In line with Stima Sacco's strategy of deepening its product offering to members, Stima Sacco recently launched affordable housing scheme. According to Mrs. Rebecca Miano, Stima Sacco’s National Chairperson, the launch of this product could not have come at a better time. “To many people, home ownership is preferable to renting. Those who rent know that at the end of the month, they must set aside a portion of their income to pay the owners of the houses they live in,” she said in her speech during the launch. The home loans are capped at Kshs. 4 million for property within Nairobi metropolis and Kshs. 3 million for the rest of the country. For those in permanent jobs or contracts, their loans are repayable within a maximum period of 25 years depending on their terms of employment or contracts. On the other hand, members in business or who have rental income will repay their loans within 25 years computed on a reducing balance as well.