Criteria & Traits My First Home Scheme Application
Key features and Benefits
First Home purchase (Subject to affordability)
  • Up to 100% financing
  • Residential property only
Qualifying Criteria
Eligible Applicant(s)
  • Must be a Malaysian citizen
  • First time home-buyer
  • Individuals up to age 40 years
  • Employees in private sectors, including statutory bodies that do not offer government staff housing loan/financing facility
  • Single borrower gross income not exceeding RM5,000/month and joint borrowers gross income not exceeding RM10,000/month (based on gross maximum income of RM5,000/month per borrower)
  • Repayment of total financing obligation must not be more than 60% of the net monthly income or maximum financing limit of the participating bank, whichever is lower
Eligible Properties
  • Residential properties located in Malaysia
  • Minimum property value of RM100,000
  • Maximum property value of RM500,000
  • Owner occupied (buyers are required to reside in the property)
Financing Requirements
  • Financing tenure not exceeding 35 years, subject to borrower’s age not exceeding 65 years at the end of financing tenure.
  • Amortising facility only (no redrawable features)
  • Instalments payable via monthly salary deduction or standing instruction
  • Compulsory Fire insurance/takaful