48 SMART: Skim Rumah Pertamaku
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Monday 9 April 2012

Skim Rumah Pertamaku

Skim Rumah Pertamaku was first announced in Malaysia 2011 Budget to assist young Malaysians who are below 35 years old to own their first house that costs not more than RM220 000. Under the scheme, they can get 100% loan from banks, inclusive of the 10% down payment which is guaranteed by Cagamas. The maximum mortgage amount was then adjusted to RM400 000 under 2012 Budget.


















To date, there is 0 approved cases for this scheme by banks as banks have to assess the credibility and financial status of applicants. However, MBSB has come up with a mortgage product in conjunction with my first home scheme. What is MBSB? Malaysia Building Society Berhad (MBSB) is not a bank. It is a financial provider that is active in personal loan and mortgage.










Below are details of my first home buyer scheme offered by MBSB:

1. 100% margin (105% inclusive of incidental costs)
2. Mortgage up to RM500 000
3. 0 entry cost

Eligibility:

1. First home buyer.
2. Malaysian who is 35 years old and below.
3. Employed under the same company for at least 6 months.
4. For own residential use only.

1 comment:

  1. In Budget 2013, My First Home Scheme will be improved by increasing the income limit for individual loans from RM3,000 to RM5,000 per month or joint loans of husband and wife of up to RM10,000 per month.

    ReplyDelete

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