Thinking of buying a house or plot in Kigali with a bank loan? This home loan calculator for Rwanda shows your monthly repayment, the total interest over the life of the loan and the monthly income banks usually want to see. Change the price, deposit, interest rate and term to compare options before you talk to a lender.
Mortgage rates in Rwanda
Mortgage interest in Rwanda is high compared with many countries, which makes the rate the single biggest factor in what you can afford.
| Type of loan | Typical rate | Notes |
|---|---|---|
| Commercial bank mortgage | about 16% to 18% a year | Historically reported range; each bank sets its own rate |
| BRD affordable housing scheme | about 11% a year | For first-time buyers earning under 700,000 RWF a month, homes from 10 to 35 million RWF |
Source: MININFRA reporting on the BRD affordable housing loans. Ask the bank for its current rate, fees and conditions before you commit.
Example repayments
These examples come from the same calculator (amounts in RWF):
| Property price | Deposit | Rate | Term | Monthly repayment | Income usually needed |
|---|---|---|---|---|---|
| 30,000,000 | 20% | 11% | 20 years | 247,725 | 743,176 |
| 60,000,000 | 20% | 16% | 20 years | 667,803 | 2,003,409 |
| 60,000,000 | 20% | 18% | 15 years | 773,002 | 2,319,006 |
| 120,000,000 | 30% | 17% | 20 years | 1,232,112 | 3,696,337 |
Notice how much the rate matters: at 16% to 18%, interest over a long term can add up to more than the loan itself. A bigger deposit or a shorter term reduces the total interest sharply.
Rent or buy?
Comparing a repayment with rent helps you decide whether buying makes sense now. As a guide, many family houses in mid-range Kigali neighbourhoods rent for about 200,000 to 500,000 RWF a month, and one-bedroom apartments near the centre for about 350,000 to 600,000 RWF a month.
At a commercial rate of 16% over 20 years, a 60 million RWF home with a 20% deposit costs about 556,500 RWF a month in repayments, plus insurance and upkeep. That is more than renting a similar family house, but at the end of the term you own the property. With the BRD affordable scheme at about 11%, a 30 million RWF home with a 20% deposit costs roughly 248,000 RWF a month, which is close to typical family rents.
Other points to weigh:
- How long you will stay. Buying makes more sense if you plan to stay for many years.
- Your deposit. Money tied up in a deposit cannot be used elsewhere.
- Rental income. Some buyers build with an annex or extra units to rent out, which can help with repayments.
- Flexibility. Renting lets you move easily as work or family changes.
What banks look at
- Income and employment. A stable salary or proven business income, with payslips or accounts.
- Affordability. Repayments within roughly one third of income, after other debts.
- Deposit. Your own contribution towards the price.
- The property. A clear title (UPI) and a bank valuation.
- Insurance. Life and property cover are commonly required.
Costs on top of the loan
Budget for notary fees, the bank's valuation and arrangement fees, insurance and the title transfer through Irembo. If you are buying land to build on, add the building permit and construction costs; our partner site's house building cost estimator can help.
Find a property that fits your budget
Once you know your budget, tell us what you are looking for with the form below and we will shortlist matching homes and plots. See houses for sale in Kigali, plots for sale or, if you are not ready to buy, houses for rent.
Frequently asked questions
What are mortgage interest rates in Rwanda?
Commercial bank mortgages in Rwanda have historically cost around 16% to 18% a year. The BRD affordable housing scheme has offered about 11% to first-time buyers earning under 700,000 RWF a month, for homes priced from 10 to 35 million RWF. Rates change, so ask your bank.
How much deposit do I need to buy a house in Rwanda?
Lenders expect the buyer to contribute part of the price from their own funds, plus money for notary, valuation and transfer costs. How much depends on the bank, the loan scheme, the property and your income, so ask each lender for its requirement and use the calculator to test different deposits.
How much can I borrow on my salary?
A common rule of thumb is that the monthly repayment should not exceed about one third of your net monthly income. The calculator shows the income usually needed for a given repayment. Banks also look at your other debts, employment and the property value.
Can I get a loan to buy a plot of land?
Some banks offer land or plot loans, often with shorter terms and different conditions from home loans. Many buyers fund the plot from savings and then borrow for construction.
Can foreigners get a mortgage in Rwanda?
Requirements for foreign residents vary between banks, so ask lenders directly what they need, typically including your residence permit and proof of income in Rwanda. Land is generally held under long leases rather than freehold for foreigners, so take legal advice as well.
Does the calculator include fees and insurance?
No. It shows principal and interest only. Banks also charge arrangement fees, valuation fees and often require life and property insurance, so add those to your budget.