Get all the latest updates on Skim Rumah Pertamaku 2024: How to Apply? Benefits, Payment Dates, Eligibility, News. Nowadays, the overall cost of properties is rising steadily, and due to this, most of the people cannot afford to buy a home. Considering this, the Malaysian government introduced the My First Home Scheme or Skim Rumah Pertamaku, which is briefly described in this article.
Skim Rumah Pertamaku 2024
In early 2011, the government of Malaysia initiated the Skim Rumah Pertamaku or My First Home Scheme (MFHS) with the sole objective of assisting the entitled beneficiaries to buy a home, which seems to be difficult for them due to the continuously rising cost of properties.
There are around 24 banks that participate in the My First Home Scheme and offer financial facilities. The underwriting and credit standards of the individuals are operated by the participating financial institutions. The list of participating banks is available on the SRP (Skim Rumah Pertamaku) website.
How to Apply Skim Rumah Pertamaku?
The entitled beneficiaries can claim the My First Home Scheme. Claimants should contact the participating bank in which they intend to apply for Skim Rumah Pertamaku. Applicants should note that not every bank is participating in the home loan scheme. The list of participating banks is published on the main website of the SRP.
Individuals should complete the application accurately and review it before its submission. Claimants should enclose all the supporting documents to validate the authenticity of the application. It is crucial to note that the participating bank has a strict filtering assessment of the claims that only 1 out of 10 applications is approved. For more information, refer to the SRP’s authentic web portal.
Skim Rumah Pertamaku Benefits
Through Skim Rumah Pertamaku, young adults can obtain 100% financing from the bank they intend to claim. It enables them to own their first home, and a 10% downpayment is also not required. However, the buyer is required to pay booking fees, which should be submitted to the seller under the Sale and Purchase Agreement.
Once the financing documentation is complete, the financing bank reimburses the buyers from the disbursement of financing. However, the buyer can make an agreement with the seller for the deferment of deposit payment pending disbursement. Such kind of requests will be determined by the willingness of the seller.
Skim Rumah Pertamaku Payment Dates
The banks are making sure that the payouts will be transferred within the provided timeframe. If any unexpected circumstances occur, the payouts might be delayed. The exact payment dates are not known yet, it will only be confirmed by the banks through which beneficiaries take loans.
In addition to this, individuals should repay their loans prior to the deadline. Failing to do so will lead to the permanent termination of the benefits or any legal action or penalties. However, if there is any valid reason for the late repayments, it should be informed to the banks.
Skim Rumah Pertamaku Eligibility
The banks have strict assessment criteria for providing loans to individuals. Moreover, it is essential for the beneficiaries to meet entitlement norms to get the loan. Some of these norms are as follows:
- Age Requirement – The age of individuals should not be more than 35 years to get the loan.
- Residency and Citizenship – Beneficairies should possess legal and permanent residency in Malaysia along with verified citizenship.
- Income Requirement – The monthly income of single or joint borrowers should not be more than RM3,000. From 2013, it raised to RM5,000.
- Other Requirements – Beneficiaries should be first-time home buyers. Along with this, the maximum value of the property should be RM220,000, which might be raised to RM4,00,000 in 2013, and the minimum value of the property should be RM100,000.
To get to know more details on the Skim Rumah Pertamaku, beneficiaries should refer to the authentic channels of the SRP.
Skim Rumah Pertamaku News
If Individuals are entitled to a 100% financing scheme under Skim Rumah Pertamaku, they can use the Home Loan Comparison tool to figure out the best available home loan. As per the current news, beginning in 2013, the employment status of 6 months might be abolished, and the savings record of 3 months installments might also be abolished. In addition to this, the maximum property value is now increased to RM4,00,000. However, the government did not announce any official confirmation.
For more information on Skim Rumah Pertamaku (SRP) or My First Home Scheme (MFHS), viewers should refer to the government’s main website and to read upgraded facts, you can check out this web page on a regular basis.
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