KUALA LUMPUR: Young working adults can now buy themselves a new home without having to pay a sen in down payment.
Those earning less than RM3,000 a month can obtain up to 100% financing to buy their first home under a new scheme launched yesterday.
The My First Home Scheme, launched by Prime Minister Datuk Seri Najib Tun Razak yesterday, will enable them to buy houses costing between RM100,000 and RM220,000 with a repayment period of up to 30 years.
The scheme sees the participation of 25 conventional and Islamic financial institutions including major banks like AmBank, CIMB, Hong Leong, Maybank, Public Bank, RHB and Standard Chartered.
To qualify for the scheme, which is for both houses under construction and completed properties, house buyers must be those working in the private sector and are confirmed employees with a minimum of six months in the job.
The self-employed do not qualify for the scheme while joint applications are allowed, provided that both are in the private sector and are family members, such as siblings or spouses.
The monthly financing repayment sum must also be not more than one-third of the applicants’ monthly gross income.
However, this sum can go up to 50% of their income if additional credit is permitted under the banks’ underwriting policy.
The Government through Cagamas Berhad – a national mortgage corporation – will bear the costs of the initial 10% deposit for the house while normal interest or profit rates for Islamic banks apply under the scheme.
The scheme does not cover refinancing of a home.
In his speech during the launch yesterday, Najib said the scheme would enable young adults in the country to own their first home within a short time.
“This scheme is a government initiative to help the young citizens as well as to inculcate confidence and desire in them to own houses.
“It is also part of the Government’s objective to provide affordable housing to all Malaysians in rural and urban areas,” he said.
The Prime Minister had announced the scheme during the tabling of the Budget in October.
Later, Najib witnessed the agreement signing between the Finance Ministry and the participating institutions, which was also attended by Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz and Treasury secretary-general Tan Sri Dr Wan Abdul Aziz Wan Abdullah.
Also present was Second Finance Minister Datuk Seri Ahmad Husni Mohamad Hanadzlah, Deputy Finance Minister Datuk Donald Lim Siang Chai and Cagamas Holdings Berhad chairman Datuk Ooi Sang Kuang.
kat atas adalh respond dari kawan-kawan, yang mempunyai pelbagai latar belakang pekerjaan, sila klik untuk enlarge pic....
Kalau proses sama, Masik semak CTOS, CCRIS, dan kelayakan gaji.. Interest pun boleh tahan gak.. apa pula kelebihan nya?? ker sekadar gimik untuk menyedapkan hati jer?.