Criteria & Traits My First Home Scheme Application
Key features and Benefits
First Home purchase (Subject to affordability)
  • Up to 100% financing
  • Residential property only
  • Available in both conventional and Islamic
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 applicant gross income not exceeding RM5,000/month and joint applicants gross income not exceeding RM10,000/month (based on gross maximum income of RM5,000/month per applicant)
  • 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 applicant’s age not exceeding 65 years at the end of financing tenure. Revised maximum tenure is in line with BNM’s ruling announced on 5 July 2013.
  • Amortising facility only (no redrawable features)
  • Instalments payable via monthly salary deduction or standing instruction
  • Compulsory Fire insurance/takaful