MY FIRST HOME SCHEME 2012 FAQ

FREQUENTLY ASKED QUESTIONS: 1. What is Skim Rumah Pertamaku (SRP)/My First Home Scheme? Answer : The scheme is one of the measures announced by the Government in the 2011 Budget aimed at assisting young adults earning RM3000 per month or less to own a home. In  The scheme allows homebuyers to obtain up to 100% financing from financial institutions, enabling them to own a home. Cagamas SRP Berhad will guarantee the banks on financing above 90% level i.e. if a borrower obtains 100% … [Read more...]

MY FIRST HOME SCHEME 2012 CRITERIA IN DETAILS

MY FIRST HOME SCHEME 2012   CAGAMAS SRP BHD Joint Venture between Ministry of Finance/Government of Malaysia and the Cagamas Group GUARANTEE COVER Cagamas SRP Bhd will only guarantee 10% on a "first loss" basis LOAN(LTV)/FINANCING AMOUNT *Upon qualification of the scheme, Banks will provide 100% (of SPA/OMV whichever is lower) financing to purchase the property.*As per existing banks' policies, participating banks can still finance an additional 5% for Insurance/MRTT, … [Read more...]

MY FIRST HOME SCHEME

Hi everyone, Under Budget 2011 our government announced many initiatives to help house ownership. These included allocation of RM568 million to build 300 units under the Urban Housing Assistance Scheme and 79,000 units under the People’s Housing Programme. On top of that, an additional allocation of RM50 million has been set aside especially to help house ownership among estate employees under the low cost housing scheme. After long a wait and received many emails pertaining to this … [Read more...]

100% HOME LOAN FOR FIRST-TIME BUYERS

Budget  2011 Those with income below RM3000 need not make down payment on house. First-time house buyers with a family income less than RM3000 per month can obtain addtional 10% loan under the My First House Scheme (SKIM Rumah Pertamaku). home loan The 10% down payment will be guaranteed by Cagamas Bhd for houses priced below RM220,000. This will allow the first time buyers to obtain 100% home loan. They will also be given stamp duty exemption of 50% on instruments of transfer on a … [Read more...]

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Your First Home Loan

Need Your First Home Loan? Buying your first home is exciting and a little scary at the same time. Not only are you faced with the challenge of finding the right property to become your first home, but you also need to know you're getting the right first home loan. How Much Can I Borrow? Before you go hunting for your new home, you should have a clear idea of exactly how much the banks will allow you to borrow. Once you understand how much borrowing power you have, learn how much the … [Read more...]