Last Updated on February 28, 2023
Boma Yangu Application Form 2023: The Affordable Housing Programme (AHP) is an initiative by the government as one of the pillars under the ‘Big 4 Agenda’ which ensures that low and middle-income households have access to decent and affordable housing units.
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What is the Housing Fund?
The Housing Fund is a Fund established under the Housing Act with an aim of delivering affordable housing to Kenyans. The Fund will therefore play a critical role in overcoming the inefficiencies in the housing sector that have led to the housing deficit in the country. This will entail interventions addressing challenges faced from both the supply and demand side of the sector.
The Housing Fund will mobilize capital in order to achieve its objectives. It will be financed by statutory contributions from employees and employers to the Fund as provided for by the recent amendments to the Employment Act as well as voluntary contributions from potential homeowners. The statutory contributions to the Fund are estimated at KSh55 billion in the first year. In addition, the Housing Fund will also be funded by other sources of public and private financing; including grants from development partners and investments from equity investors.
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Through these partnerships, the Fund will provide certainty of market to developers thus enabling them to deliver housing at the required scale. Affordability and access to competitive financing for home owners will be secured by the Fund by addressing tenure and interest rates through the National Tenant Purchase Scheme (NTPS). Owners will be able to make payments over a 25 year period with financing of between 3% – 7% thereby reducing expected monthly payments to manageable levels as well as a possibility for multi-generational mortgages.
How to Apply for Boma yangu Affordable Housing Program
All applicants will need to be a citizen of Kenya with a valid national ID number. Individuals interested who is in buying Affordable Houses under AHP will first have to register on the affordable housing portal, either online or on their mobile phones, begin making contributions to the Housing Fund and select their housing preference from the available or upcoming housing stock. Once registered and contributing to the Housing Fund, applicants who qualify will participate in a Regular and Transparent Allocation process for the available houses.
Boma yangu AHP Application Form Portal
For more details, visit the Boma yangu registration form portal at https://bomayangu.go.ke/Register