About Skim Rumah Pertamaku (SRP) - My First Home Scheme

About Skim Rumah Pertamaku (SRP)  - My First Home Scheme

Skim Rumah Pertamaku (SRP) - My First Home Scheme is a home ownership initiative that was first announced in the 2011 Budget by the Government of Malaysia to assist first time house buyers.

This scheme is for house buyers earning a gross monthly household income of up to RM10,000 to purchase their first home.

The Scheme allows first time house buyers to obtain up to 110% financing from the participating banks, enabling home ownership without having the need to pay a down payment.

This is in line with the Government’s aspirations of increasing home ownership amongst the “rakyat”. Cagamas SRP Berhad (“CSRP”) will guarantee up to the first 20% on a ‘first-loss’ basis.

In year 2022, the Government launched the Malaysia Housing Financing Scheme (“i-Biaya”) where SRP is listed as one of the financing schemes offered to assist low-income families to own a home. I-Biaya is a component under the Home Ownership Programme which focuses on the housing ecosystem including the provision of homes as well as other related policies.

 

The Scheme allows first time house buyers to obtain up to 110% financing from participating banks

The Scheme allows first time house buyers to obtain up to 110% financing from participating banks

Enabling home ownership without having the need to pay a down payment

Enabling home ownership without having the need to pay a down payment

Cagamas SRP Berhad will guarantee the loan/ financing

Cagamas SRP Berhad will guarantee the loan/ financing

Cagamas promotes home ownership and contribute towards nation development