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best mortgage company
seeker*
#1 Posted : Tuesday, May 24, 2011 12:15:05 PM
Rank: Member


Joined: 9/11/2009
Posts: 132
Location: nairobi
hallo wazua,
am thinking of mortgage soon but don't want to find myself in a financial nightmare,was told of mortgage companies that really stretch the fine print, and before you know it you are trapped,with no way out. am asking for good advice from members who are happy about the choice they made and those who wish the hadn't signed on the dotted line.
all feedback will be appreciated.
Don't fight a battle if you gain nothing by winning.” Erwin Rommel
When I was a child, I spoke like a child, thought like a child, and reasoned like a child. When I became an adult, I no longer used childish ways.
The Merchant
#2 Posted : Tuesday, May 24, 2011 12:57:56 PM
Rank: Veteran


Joined: 5/24/2010
Posts: 846
Location: KENYA
This should be interesting....I especially want to hear about success strories with the 100% mortgage financing deal with CFC Stanbic..
action!
#3 Posted : Tuesday, May 24, 2011 4:27:54 PM
Rank: Member


Joined: 9/17/2009
Posts: 47
Banks are there to make money. Keep that in mind when taking a mortgage or loan. Fine print is everything.
willin2learn
#4 Posted : Tuesday, May 24, 2011 4:55:27 PM
Rank: Veteran


Joined: 2/12/2008
Posts: 1,178
@Seeker,

In my thinking Mortgage is a loan like any other. There is no major difference between your normal Sacco loan, Helb loan and mortgage. At the end of them all you payback the Principal and Interest. The difference is in the details; tenor, interest rates, security details etc.

Please ensure to read whatever you call the fine prints before commiting your signature on the offer. Sometimes we are in such a hurry to sign - trusting our lawyers to do the reading for us- and forgets we aer the ones who will pay the loan.

My 2 cents
B.Timer
#5 Posted : Tuesday, May 24, 2011 8:04:45 PM
Rank: Veteran


Joined: 5/31/2008
Posts: 1,076
willin2learn wrote:
@Seeker,

In my thinking Mortgage is a loan like any other. There is no major difference between your normal Sacco loan, Helb loan and mortgage. At the end of them all you payback the Principal and Interest. The difference is in the details; tenor, interest rates, security details etc.

Please ensure to read whatever you call the fine prints before commiting your signature on the offer. Sometimes we are in such a hurry to sign - trusting our lawyers to do the reading for us- and forgets we aer the ones who will pay the loan.

My 2 cents


By and large yeah.

Try KCB.
Dunia ni msongamano..
Gadaffi
#6 Posted : Tuesday, May 24, 2011 8:26:26 PM
Rank: Member


Joined: 2/13/2011
Posts: 284
Location: Nairobi
@ seeker

are u planning to undertake a commercial or residential contruction
Shal
#7 Posted : Wednesday, May 25, 2011 12:48:07 PM
Rank: Member


Joined: 11/3/2009
Posts: 9
I am in the process of signing up for one and my take is be ready with cash before you get the CASH. The closing costs (valuers fee, lawyers fee, 4% stamp duty, management co. fee if its an apartment etc) can suprise you if you dont have the cash ready
Tommy
#8 Posted : Wednesday, May 25, 2011 6:03:59 PM
Rank: Veteran


Joined: 12/9/2010
Posts: 894
Location: Nairobi
i am interested to hear of personal experiences.
Don't wait for the Last Judgment. It happens every day. ~Albert Camus, The Fall, 1956
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