- An application form will be issued by the Corporation on receipt of KShs.500/= in cash, bankers cheque or downloaded from the NHC website.
- Applicants may also apply for a loan online in the NHC website.
- Eligible applicants must be over 18 years of age at the date of application, but should have redeemed their loans by the age of 70.
- The loan shall be secured on a first charge against a title deed of a property situated in an urban or peri urban area. (within a city, town or municipality).
- The Corporation will not accept rural or agricultural title deeds as security for loans.
- Applicants will be considered for loans which they can service, subject to a maximum loan of KShs 3 million in each case. The maximum loan will be the lower of Kshs 3 million or seventy percent (70%) of the market value of the security.
- Properties presented as security will be valued by Corporation appointed valuers at applicants cost. This is for purpose of determining its market value and suitability.
- The loan advanced shall be repaid in a period not exceeding ten (10) years at an interest rate of 13% per annum (or as may be revised from time to time).
- The following documents should be attached to the application form:
- Two copies of the approved plan/drawing of the proposed house
- Bills of quantities prepared by a registered quantity surveyor based on the drawing provided
- A sketch route map showing direction to
(a) The site of construction and
(b) To the property/security to be valued, if the site is not the security.
iv. As proof of income the following is required:
Two recent pay slips, a letter of introduction from the employer confirming terms of employment and certified bank statements for the last six months
Applicants in Business
Audited financial statements for the last three years/ or evidence of business income for the same period and certified bank statements for the last six months. Documents must be attached as proof of each source of income.
v. Two photographs of the proposed house showing stage of construction achieved. Applicants are expected to have commenced construction of their houses. If construction has not commenced applicants will bear the cost of hiring construction professionals as the loan will be released in tranches as construction progresses.
vi. A copy of your National Identity card or passport.
vii. Copy of KRA PIN certificate.
viii. One passport size photograph of applicant.
ix. Copy of certificate of incorporation of business where applicable.
x. Copy of title /lease to be offered as security for the loan. Attach copy of official search.
xi. Credit Reference Bureau report on the applicant.
xii. Any other information you deem relevant in support of your application.
10. The Corporation may send field staff to verify details of the construction.
11. On receipt of offer for a loan, the applicant must provide security for the loan.
12. After allocation, the loan will be released to the applicant less legal fees and the cost of insuring both the loan and the security provided that a charge in favour of the Corporation has been registered and other legal requirements have been completed to the satisfaction of the Corporation.
13. Applicants are eligible for top up loans provided that the total loans do not exceed the maximum limit of Shs 3 million per applicant.
14. The Corporation is NOT bound to advance a loan to every applicant who qualifies. Allocation of loans is subject to availability of funds.