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Morgage Product Loan

This is a 100% home owning finance to our members in two ways:
A) MAKAO LOAn (MAx. 25 yEARS)
• A mortgage product targeting members who wish to purchase ready made residential property in cities, municipalities and towns in Kenya for owner occupation.
• To enable the SAcco member to purchase ready built residential house for owner occupation.
• Enable Members to purchase a residential house (for own use or rental income).

BENEFITS
• Up to 100% financing on residential housing. (SAcco will finance 90% of the purchase price and associated costs estimated at 10%).
• Loan repayment duration of up to 25 years.
• Mortgage protection cover to save guard against loss of income resulting disability or death of the borrower.
• Mortgage Protection Insurance (MPI) cover limit up to Ksh.4M without need for medical checkup (minimum cover limit). A cushion against loss
of income for (24 months) resulting from corporate actions leading to retrenchment.
• Interest rates at less than 10% (for affordable mortgages and
competitive interest rates for market mortgages).
• Access to all other SAcco products (e.g. current account, savings products and other loans).
• owner occupied home borrower receive a tax relief of up to
Ksh. 150,000 annually.

B) UjEnzi LOAn (15-25 yRS)
• A mortgage product targeting members who wish to develop their own homes in cities, municipalities and towns in Kenya for owner occupation.
• To enable a SAcco member to construct or improve a residential house for owner occupation

PRODUCT BENEFITS
• Up to 100% financing on residential housing construction.
• Member can purchase a plot and develop a home at his own taste and preference in a city, municipality and town in Kenya for owner occupation.
• Loan amount as determined by ability to pay as follows:
• Affordable Mortgages upto 4M
• Member to contribute 10% of purchase price
• Finance 90% of market price / open market valuation whichever is lower and other costs estimated at 10%.

ELIGIBILITY AND CREDIT WORTHINESS
Imarika Sacco