Mortgage Pre Approval in Kenya: Why It Matters and How to Get It
Introduction
Buying a home is one of the biggest financial decisions you will ever make. In Kenya, the process is smoother and faster if you start with a mortgage pre approval. Many buyers focus only on finding the right property, but securing a home loan pre approval in Kenya is just as important. It shows sellers and agents that you are a serious buyer and ready to complete the purchase.
What is Mortgage Pre Approval?
A mortgage pre approval is a confirmation from a bank or lender that you qualify for a home loan up to a certain amount. It’s based on your income, credit history, savings, and debt profile. Unlike a simple eligibility check, pre approval involves document verification and gives you a firm borrowing limit.
Why Mortgage Pre Approval Matters
- Sets Your Budget: Helps you know exactly what you can afford.
- Strengthens Your Offer: Sellers take you seriously when you already have lender backing.
- Saves Time: Focuses your property search within your price range.
- Negotiation Power: Sellers may prioritize pre-approved buyers in competitive markets.
- Avoids Surprises: Identifies issues in your credit or finances early.
For more insights, see our guide on mortgage options in Kenya 2025.
How to Get Mortgage Pre Approval in Kenya
Step 1: Check Your Eligibility
- Review your credit history, income, and debt ratio.
- Most banks require stable employment and consistent income.
Step 2: Prepare Documents
- National ID or passport.
- KRA PIN certificate.
- Payslips (last 3–6 months).
- Bank statements (last 6 months).
- Employment letter or business registration documents for self-employed.
Step 3: Approach Lenders
- Visit banks, SACCOs, or mortgage companies.
- Compare interest rates, repayment terms, and fees.
- Consider lenders offering special products for first-time buyers.
Step 4: Submit Application
- Provide documents and fill in lender forms.
- The lender will assess your debt-to-income ratio and repayment ability.
Step 5: Receive Pre Approval Letter
- If approved, you’ll receive a pre approval letter valid for 90–180 days.
- Use this letter when negotiating with sellers or agents.
Common Mistakes to Avoid
- Assuming pre approval guarantees final approval — it doesn’t. Final approval comes after property valuation and legal checks.
- Applying with multiple lenders without comparing terms.
- Overestimating your affordability and ignoring other costs like stamp duty.
- Failing to maintain good credit between pre approval and final approval.
- Delaying property search until pre approval expires.
Frequently Asked Questions
How long does mortgage pre approval take in Kenya?
Usually 1–2 weeks depending on the lender and documents provided.
Is mortgage pre approval free?
Most banks offer it at no cost, but some may charge small processing fees.
Does pre approval guarantee I will get the loan?
No. It is conditional on property valuation and due diligence.
How long is a mortgage pre approval valid?
Typically 90–180 days depending on the lender.
Can I get pre approval if I work abroad?
Yes. Some banks offer diaspora mortgage pre approvals with extra documentation.
Final Thoughts
Getting a mortgage pre approval in Kenya is a crucial step that makes you a confident, prepared, and attractive buyer in the property market. It helps you avoid delays and gives you leverage when negotiating for your dream home.
At Sarabi Realty Group, we guide clients through every step of financing and home purchases to ensure smooth transactions.
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📧 Email: sarabirealtygroup@gmail.com
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