Utawi Mortgage: Your Path to Homeownership

Looking for a flexible and robust mortgage solution? The Utawi Mortgage is designed to empower members to acquire ready houses with ease. With competitive interest rates and convenient terms, this facility ensures that your journey to homeownership is smooth and hassle-free.

Key Features of Utawi Mortgage

• Generous Loan Amounts: Access financing up to 10 times your savings, with a minimum value of KES 1.5 million and a maximum loan limit of KES 20 million.

• Competitive Interest Rate: Enjoy a rate of 12% per annum on a reducing balance, making this mortgage a cost-effective solution.

• No Guarantors Required: Simplify the process and eliminate the need for guarantors.

• Flexible Repayment Period: Repay your loan over a generous period of up to 20 years, subject to your retirement age and terms of employment.

• Loan Recovery via Checkoff: Loan repayments will be recovered directly through checkoff, offering convenience and reliability.

• Security Options: The loan is secured with a title deed or sublease, ensuring peace of mind for both parties.

• Financing Beyond 100%: Access up to 105% financing of the mortgage value, allowing for additional coverage of related fees and costs.

• Mortgage Buy-Off Option: Enjoy the flexibility to buy off an existing mortgage with this facility.

• Exclusion of Loan Refinancing: Note that refinancing other loans is not permitted, keeping this facility focused on home acquisition.

• Processing Fee: A nominal fee of 0.5% is charged for loan processing, ensuring affordability.

• Quick SLA: Service Level Agreements (SLA) will be completed within 90 days for efficient service.

• Additional Security Conditions: All related fees will be included in the loan application, and the member’s deposits will be held in lien as security.

• Quotation-Only Requirement: The offer is exclusively available for ready houses, with no invoices required—just quotations or proforma invoices from appointed distributors.

Qualifying Criteria

• Savings Requirement: Members must have saved consistently with the Sacco for at least 6 months to qualify.

• Eligibility: Open only to members meeting the loan conditions, ensuring dedicated support for your financial goals.

Why Choose Utawi Mortgage? This mortgage facility is tailored for members who are ready to make their homeownership dreams come true. With its competitive rates, extended repayment periods, and no need for guarantors, Utawi Mortgage offers a seamless and supportive path to owning your dream home.