Village home builders to get Sh10bn low-cost mortgages

The loan, which will be repaid at single digit interest, will be repaid in 10 years as the State races to plug a market ignored by commercial banks.

Photo credit: Shutterstock

Workers seeking to build homes in the villages can now tap into a Sh10 billion loan kitty under the controversial Housing Levy offering low-cost housing mortgages for rural areas.

Treasury disclosures indicate that single-family applicants will be eligible for a maximum loan of Sh5 million and up to Sh10 million for multiple-family dwellings

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.