Definition: Mortgage Kenya is a term used in Kenya, which refers to any mortgage or loan that requires repayment through an interest-bearing account or other financial instrument. A mortgage Kenya is usually associated with individuals who are seeking to borrow money from a bank or credit institution for the purpose of purchasing or renovating a house, apartment or land. The borrower pays off the principal amount of the loan and earns interest as part of the repayments. The term "mortgage Kenya" can also refer to a specific type of mortgage that is specifically designed for individuals who are seeking to finance a residential property purchase through a commercial bank or financial institution. This type of mortgage typically involves paying a lump sum amount in advance, with the principal and interest being repaid over a period of time. Mortgage Kenya can be a useful tool for individuals looking to secure financing for various purposes such as buying a home, renovating an existing property, or making a down payment on a commercial or residential property.
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