Information on Rural /Peri Urban Housing Loan


  location NHC House, Aga Khan Walk        envelope2       phone call2  0724256403 / 0735993030 / 0730749000

1. An application form will be issued by the Corporation on receipt of KShs.500/= in cash, bankers cheque or downloaded from the NHC website.
2. Applicants may also apply for a loan online in the NHC website.
3. Eligible applicants must be over 18 years of age at the date of application, but should have redeemed their loans by the age of 70.
4. The loan shall be secured on a first charge against a title deed of a property situated in an urban or peri urban area (within a city, town or municipality).
5. The Corporation will not accept rural or agricultural title deeds as security for loans.
6. Applicants will be considered for loans which they can service subject to a maximum loan of KShs. 5 million for a single dwelling unit and KShs. 10m for multiple dwelling units. The maximum loan will be limited to seventy percent (70%) of the market value of the security.
7. Amounts in excess of KShs. 3m will be released in tranches after confirmation by a construction professional that the released tranches have been utilized appropriately.
8. Properties presented for security will be valued by Corporation appointed valuers at applicants cost. This is for purpose of determining its market value and suitability.
9. The loan advanced shall be repaid in a period not exceeding ten (10) years at an interest rate of 13% per annum (or as may be revised from time to time).
10. The following documents should be attached to the application form:
i. Two copies of the approved plan/drawing of the proposed house
ii. Bills of quantities prepared by a registered quantity surveyor based on the drawing provided
iii. A sketch route map showing direction to
(a) The site of construction and
(b) To the property/security to be valued, if the site is not the security.
iv. As proof of income attach the following:
For Salaried Applicants
Two recent pay slips, a letter of introduction from the employer confirming terms of employment and certified bank statements for the last six months
For Applicants in Business
Audited financial statements for the last three years/ or evidence of business income for the same period and certified bank statements for the last six months. Documents must be attached as proof of each source of income.
v. Two photographs of the proposed house showing stage of construction achieved. Applicants are expected to have commenced construction of their houses.
vi. A copy of National Identity card or passport of applicant.
vii. Copy of KRA PIN certificate.
viii. One passport size photograph of applicant.
ix. Copy of certificate of incorporation of business where applicable.
x. Copy of title /lease to be offered as security for the loan. Attach copy of official search.
xi. Credit Reference Bureau report on the applicant.
xii. Any other information deemed relevant in support of the application.
11. The Corporation may send field staff to verify details of the construction.
12. On receipt of offer for a loan, the applicant must provide security for the loan as specified in the offer.
13. After allocation, the loan will be released to the applicant less legal fees, the cost of insuring the loan and the cost of insuring the developed security against fire & peril. Loans will be released after a charge in favour of the Corporation has been registered and other legal requirements have been completed to the satisfaction of the Corporation.
14. Applicants are eligible for top up loans provided that the total loans do not exceed the maximum limit of KShs. 10 million per applicant.
15. The Corporation is NOT bound to advance a loan to every applicant who qualifies. Allocation of loans is subject to availability of funds.

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Contact Us

The Managing Director
NHC House, Aga Khan Walk
P.O Box 30257-00100
Nairobi - Kenya

Tel: +254 (020) 3312 149