President Uhuru launches mortgage company for cheap homes

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President Uhuru Kenyatta launches company that is key to expanding home ownership in Kenya.. high cost of houses, high incidental cost of mortgages, low levels of income and difficulties with property registration and titling," President Kenyatta said.

Former President Dilma Rousseff announced that by 2014 her administration would have contracted 2.4 million houses. However in mid-2015, construction was paralyzed due to lack of public funds. Then in May 2016, the program was temporarily suspended.

President Kenyatta has officially launched the Kenya Mortgage Refinancing Company (KMRC), a government-backed entity whose mandate is to deliver low-cost houses to low-income earners in the country. KMRC has been formed through a partnership between the government and the private sector. The company’s main goal is to deliver adequate, safe and affordable housing, which is part of Kenyatta’s.

President Uhuru Kenyatta launched the Kenya Mortgage Refinance Company (KMRC) as part of efforts to achieve affordable housing, one of his Big Four Agenda. Borrowers with a monthly income of not more than Sh150,000 per month are eligible for the loans that will be capped at Sh4 million in Nairobi, Kiambu, Machakos and Kajiado and Sh3 million for the rest of the country.

Alcoholism is one of the biggest threat towards realising President Uhuru Kenyatta’s big four agenda, the National Authority for Campaign Against Drug Abuse (Nacada) has said. Reports by the Kenya News Agency (KNA) indicate that Nacada identified alcohol as the most abused drug in the country affecting thousands of youths.

3 Reasons NOT to refinance now Three Reasons Why You Should Not Refinance Your Home To Pay Off Credit Card Debt Using your home as an ATM to pay off your credit card debt could be a huge mistake. When you take the equity out of your home to repay credit card debt, you are in effect turning an unsecured loan (credit card debt) into a secured loan (home equity loan).

The World Bank has approved Sh25 billion ($250 million) to help Kenya set up a mortgage refinancing company that will make it easier for banks to access long-term finance for cheaper home loans The ..

Treasury sets up financier for Uhuru’s low-cost home loans plan. to be known as the Kenya Mortgage Refinance Company (KMRC), will be incorporated by end of this month and will start raising.

The Kenya Mortgage Refinancing Company (KMRC), which was launched on Wednesday, will begin its operations early next month – issuing bonds and mobilising funds from global financiers. KMRC, the country’s first secondary mortgage financier, is expected to slash interest rates on home loans to single digit from the current rate of 13.5 per cent.