How Much Home Can You Afford?
Calculate your home buying budget based on your income, debts, and down payment
KShYour Financial Information
Your total monthly income before taxes
Car loans, credit cards, student loans, etc.
Recommended: 10-20% of home price
Enter Your Details
Fill in your financial information to see how much home you can afford
Understanding Home Affordability
28% Rule
Your monthly housing costs (mortgage, insurance, taxes) should not exceed 28% of your gross monthly income.
36% Rule
Your total monthly debt (housing + other debts) should not exceed 36% of your gross monthly income.
Down Payment
In Kenya, most banks require 10-20% down payment. A larger down payment means better loan terms and lower monthly payments.
Kenya-Specific Considerations
- • Stamp Duty: 4% of market value in urban areas, 2% in rural areas
- • Legal Fees: Typically 1-2% of property value
- • Valuation Fees: KSh 5,000 - 15,000
- • Service Charge: Apartments/condos may have monthly fees
- • Insurance: Property insurance required by lenders