Mortgages in Rwanda

What banks charge

The National Bank of Rwanda publishes the rates banks charge each month. The average lending rate was 15.78% in the first half of 2026. Long-term loans, which include mortgages, were 33.8% of new lending. Banks set their own mortgage rates, terms and deposits, and most lend in Rwandan francs.

Before a housing finance programme backed by the World Bank, mortgages with terms of under 10 years cost 18% to 22%. Under the programme, rates fell to 11% to 13% and terms lengthened to up to 20 years, and eight lenders made 8,103 housing loans by mid-2025.

Gira Iwawe

Gira Iwawe, "own your home", is for first-time buyers. The Development Bank of Rwanda lends to banks and microfinance institutions, which then lend to the buyer. The scheme is open to Rwandan citizens and permanent residents. By March 2026 it had helped more than 18,000 households in seven years, and the Government said rent-to-own schemes would be a priority next. BRD’s portal lists homes for sale from RWF 29.5 million.

Foreign buyers

• Gira Iwawe needs citizenship or permanent residence, so most foreign buyers borrow at commercial rates.
• Banks decide case by case. Expect to show a residence permit, income in Rwanda or a track record with the bank, and a sizeable deposit.
• The bank registers its mortgage against the plot’s title in the land register, and must release it when the loan is repaid or the property is sold.
• Many foreign buyers pay cash or borrow at home. If the loan is in another currency, the cost of the Rwandan franc’s movements falls on the borrower.