Harmonize Affordable Housing Mortgage

The Kenya kwanza government promised to harmonize affordable housing mortgage (similar to that of the Judiciary and Parliament).

The government established the broader Affordable Housing Programme and created a legal framework for affordable housing financing through the Affordable Housing Act, 2024. The Act allows the Affordable Housing Board to enter agreements with approved institutions and mortgage schemes to finance the purchase of affordable housing units.
The government also introduced Affordable Housing Regulations in 2025, which set subsidised interest rates of 3%, 6% and 9%, depending on the borrower’s income. This provides a standardised financing structure for people purchasing affordable housing under the programme.
Further the Kenya Mortgage Refinance Company (KMRC), has provided financing to primary mortgage lenders, reducing the mortage rate to a 7-9.9% rate. However, it is noteworthy that the KMRC is a public-private partnership, where the government only has a 25% stake currently.
In May 2026 the deposit for Affordable Housing was lowered to 5%.

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This Promise Tracker is an independent civic-accountability tool designed to monitor and document the progress of public commitments made by the Government of Kenya. Information presented on this platform is compiled from publicly available sources including government publications, parliamentary records, policy documents, and credible media reports. The classifications used in this tracker represent an evidence-based assessment by the platform’s researchers and should be understood as analytical judgments rather than official government determinations. While every effort is made to ensure accuracy and regular updates, the status of promises may evolve as new information becomes available. This website is not affiliated with or operated by the Government of Kenya.

Last updated: August 30, 2026 3:32 am