How To Apply For Boma Yangu Affordable Housing Programme today
This article is about How To Apply For Boma Yangu Affordable Housing Programme. The Affordable Housing Program (AHP) is a Kenyan government initiative under the “Big 4 Agenda” that provides access to decent and affordable housing units for low- and middle-income people.
The program is funded through:
- Statutory contributions from workers and employers, as well as through voluntary contributions. For the Premier, contributions will be limited to KES 2,500, while the latter will not be limited.
Despite the flexibility of contributing individually or together, it is limited to a single house at the same time. However, joint contributions increase the chances of buying a home in a short time.
Sustaining members also have the ability to track their contributions through the portal, although access to funds is limited to after 15 years of contributions or upon retirement. Also, a member is not allowed to sell the house on the open market until 8 years have passed, although they are given the option to sell it back to the housing trust within that period.
- Development Partner Grants and Equity Investor Investments. Eligibility and Registration
Applying for the fund is free and requires no upfront fees.
How To Apply For Boma Yangu Affordable Housing Programme
To be eligible for the fund, applicants must be Kenyan citizens of at least 18 years of age and have a valid national ID.
To register for the fund, it is possible to do so online or on a mobile device and pay the contribution after selecting one’s housing preference among the available or nearby real estate assets.
There is no charge to apply.
The homes offered depend on the location and needs of the applicants. They range from 1 bedroom to 3 bedroom units.
Additionally, the price per unit may vary from one geographic location to another, although the unit cost will be significantly less than the prevailing market value in that region.
The amount to be paid for the house will depend on the type of house chosen and assigned. The monthly payments will be determined taking into account the amount of the deposit paid and the desired payment period. The typical repayment period will be at least 25 years.
Who are the beneficiaries? And what type and size of homes will be available under the AHP by 2024?
The Affordable Housing Program (AHP) will address the housing needs of low- and moderate-income households who fall into the following income groups;
- Social housing for low-income people between 0 and 19,999 Kenyan shillings
- Low-cost housing will benefit those earning between 20,000 and 49,999 Kenyan shillings
- Access to the loan will benefit those earning between 50,000 and 149,999 Kenyan shillings
- Upper middle income people earning Ksh. 150,000+
Depending on the amount an individual accumulates through monthly payments, through www.bomayangu.go.ke, the homes that will be available for purchase are;
- A one bedroom room (30 square meters) will cost between Ksh 600,000 and 1,000,000
- Two rooms (40 square metres) will cost Ksh 2,000,000
- Three rooms (60 square meters) will cost Ksh 3,000,000
Housing allocation procedures
Upon registration, members will be asked to indicate their preferred location and will then be provided with information on the type of housing they are eligible for based on their income, required deposit payments, and information on expected monthly TPS payments.
The information above will be used to prioritize the allocation of homes, as well as other factors including: family status (household priority), current assets held, vulnerable groups, first come, first served and also being a civil union.
Servitor grants priority of 30% of units, while being a Disciplined Member of the force entitles 1 to 20% of available units. However, due to large numbers of applicants and limited houses, those who may lose positions will be placed on a waiting list and the applicant will have a better chance of being awarded in subsequent developments.
Once paid in full you will have the freedom of any other owner. One proof will be either a sectional title or a long-term lease, depending on whether you’re in the National Tenant Purchase Program (TPS).
In the end, you own the house even if it was built on state land, as long as you have completed the payment.
If you need any assistance or help with registration, feel free to contact Boma Yangu Support in the following ways.
See Boma Yangu website here
Boma Yangu Housing Programme Contact info
Phone Number: 0206900020
Email Address: firstname.lastname@example.org