How Much Salary Do You Need to Qualify?
The salary required to qualify for a home loan depends on the property’s price, your deposit, existing debts, and the lender’s affordability assessment. Most banks in Kenya prefer that your monthly mortgage repayment does not exceed 35%–40% of your gross monthly income. A higher salary and larger deposit can improve your chances of approval and help you qualify for a bigger loan. Lenders also consider your credit history, employment stability, and repayment ability. Before applying, use a mortgage calculator or speak with your preferred bank to estimate how much you can comfortably borrow.
