Skim Rumah Pertamaku (SRP), the "My First Home Scheme", has ended. Cagamas stopped taking applications on 31 March 2023, and the scheme was discontinued from 1 April 2023. You cannot apply for SRP in 2026. Under Budget 2023, the government moved its support for first-time buyers to the Skim Jaminan Kredit Perumahan (SJKP) housing credit guarantee. (Source: Cagamas notice on the end of SRP applications, as reported by Berita Harian and Bernama in March 2023; checked 30 Sep 2026.)
This page explains what SRP offered, for anyone who still has an SRP loan or sees it mentioned in older guides. It also covers what you can use instead today: SJKP, LPPSA for civil servants, affordable-housing schemes and the first-time buyer stamp duty exemption.
Status in 2026: What Replaced SRP
| Route in 2026 | Who it is for | What it does |
|---|---|---|
| SJKP (Skim Jaminan Kredit Perumahan) | Malaysian first-time buyers aged 18 and over, including gig workers and the self-employed | A government guarantee lets participating banks finance more than 100% of the home. Standard SJKP financing is up to RM500,000; under the SJKP MADANI variant, banks can finance up to 120% of the purchase price, capped at RM360,000, with SJKP guaranteeing the loan |
| LPPSA | Civil servants | Public-sector housing financing with a margin of up to 100% at a fixed 4.0% a year |
| Affordable housing (Rumah Mampu Milik) | Eligible households, by income and state | Lower-priced homes under PR1MA, RUMAWIP in the Federal Territories and state schemes such as Rumah Selangorku |
| First-time buyer stamp duty exemption | Malaysian first-time buyers of homes up to RM500,000 | No stamp duty on the transfer (MOT) or the loan agreement for SPAs signed from 1 January 2026 to 31 December 2027 |
| Bank first-home packages | Anyone who qualifies for a normal housing loan | Usually up to 90% financing, so you still need a 10% downpayment unless you combine it with a guarantee scheme |
(Sources: Ministry of Finance Manfaat portal, Budget 2026 page on SJKP MADANI; SJKP's scheme page on sjkp.com.my; BSN's MyHome-i (SJKP-MADANI) FAQ, checked 1 Oct 2026, for the 120% margin of financing and RM360,000 maximum; Malay Mail, 16 November 2025, on LPPSA; Budget 2026 first-time buyer stamp duty extension; all checked 30 Sep 2026.)
Key Benefit (Historical): Up to 110% Financing
This section describes the scheme as it was. It no longer applies.
SRP was announced in Budget 2011. Cagamas SRP Berhad, a Cagamas subsidiary, guaranteed the loans. At first the scheme let participating banks lend up to 100% of the price, so you did not need the usual 10% downpayment. A 2019 enhancement raised this to up to 110% for buyers with a gross monthly household income of RM5,000 or less buying a home priced at RM300,000 or less:
- 100% covered the house price.
- Up to 10% more covered the insurance (MRTA/MRTT) and related fees.
- Result: no downpayment upfront.
The 110% tier came with two conditions: you had to complete an online financial education module run by AKPK, and you could not sell the property for 5 years. (Source: Cagamas SRP Berhad, "Skim Rumah Pertamaku" presentation at MAPEX, 2 March 2019; checked 30 Sep 2026.)
By April 2022, SRP had financed about RM14.8 billion of homes for nearly 67,000 households. (Source: Ministry of Finance press release, 15 April 2022; checked 30 Sep 2026.)
Eligibility Criteria (When SRP Was Open)
These were the rules before the scheme closed. They are not current criteria for any scheme.
- Citizenship: Malaysian citizen, salaried or self-employed, applying alone or jointly.
- First Home: It had to be your first home.
- Income: Gross monthly income of RM5,000 or less for an individual. Joint applicants could have up to RM10,000 a month together, as long as one of them earned RM5,000 or less.
- Credit record: No impaired financing in the previous 12 months.
- Debt service ratio: Not more than 60% of net monthly household income, or the bank's own limit if lower.
- Age: No fixed cap. The tenure ran up to 35 years or to age 70, whichever came first.
(Source: Cagamas SRP Berhad, MAPEX presentation, 2 March 2019; checked 30 Sep 2026.)
Property Requirements (When SRP Was Open)
- Type: Residential property, new or subsale.
- Price: Up to RM500,000, or up to RM300,000 for the 110% tier.
In 2026 the RM500,000 figure still matters, but for different reasons. It is the ceiling on standard SJKP financing and the price cap for the first-time buyer stamp duty exemption.
Participating Banks
SRP's panel banks are no longer taking SRP applications. For SJKP, the participating institutions listed on SJKP's site include Maybank, RHB Bank, Hong Leong Bank, Bank Islam, Alliance Bank, AmBank Islamic, MBSB Bank and Bank Rakyat, among about 20 lenders. Check SJKP's current panel before you apply, because it changes. (Source: sjkp.com.my participating institutions list; checked 30 Sep 2026.)
How to Apply Now: SJKP and Other Routes
You can no longer ask a bank for an SRP loan. Instead:
- Check whether you are a first-time buyer. You must never have owned a home, including one you inherited or received as a gift, alone or jointly. This rule decides both SJKP and the stamp duty exemption.
- Pick your route. Civil servants should compare LPPSA first. Everyone else can apply for SJKP through a participating bank, or use a normal housing loan with a 10% downpayment.
- Check the numbers. SJKP MADANI needs your total loan repayments to be no more than 65% of your gross monthly income, and no CCRIS arrears of more than 2 months in the last 12 months. (Source: Ministry of Finance Manfaat portal, SJKP MADANI; checked 30 Sep 2026.)
- Keep the price at RM500,000 or below. One ringgit over and you lose the stamp duty exemption on the whole price. Standard SJKP financing is also capped at RM500,000, including insurance, legal fees and valuation, so a higher price leaves a gap you pay in cash.
Our SJKP housing credit guarantee guide walks through the SJKP application step by step. The full loan guide compares every genuine 100% financing route.
Pros and Cons
| Route | Pros | Cons |
|---|---|---|
| SJKP | No downpayment. Works for gig workers and the self-employed without payslips. | Price and financing caps. Borrowing more than 100% means a higher monthly instalment. |
| LPPSA | Up to 100% margin at a fixed 4.0% for the whole tenure. | Civil servants only. The loan amount depends on LPPSA's income bands. |
| Normal bank loan + stamp duty exemption | No scheme caps apart from the exemption's RM500,000 limit. Choice of lenders. | You need a 10% downpayment plus about 4% to 5% for costs. |
| SRP (ended) | Offered up to 110% financing. | Closed to new applications since 31 March 2023. |
Is it Right for You?
SRP is not an option any more, so the real question is which route replaces it for you. If you have a steady income but not the RM30,000 to RM50,000 you would need for a downpayment, SJKP is the closest match to what SRP used to do. If you work in the civil service, compare it with LPPSA. If you have some savings, a normal loan with the stamp duty exemption may cost less in total, because you borrow less.
Price is what decides this in practice. In September 2026, 119 of the 177 homes for sale on SuperHomes in Selangor (67%) were priced at RM500,000 or less, as were 75 of 137 in Kuala Lumpur (55%). (SuperHomes listings, Sep 2026, n=177 Selangor and n=137 Kuala Lumpur, residential homes only.) Areas such as Shah Alam and Cheras have homes under that cap.
For PR1MA, RUMAWIP, state schemes and more, see our guide to first-time buyer schemes in Malaysia. The Malay-language Rumah Mampu Milik guide covers affordable housing in more detail.
Check out our Guide to Buying Your First House for the next steps!
FAQs: Skim Rumah Pertamaku (My First Home Scheme)
Q: Is Skim Rumah Pertamaku still available in 2026?
No. Cagamas stopped taking SRP applications on 31 March 2023, and the scheme was discontinued from 1 April 2023. No bank can offer you a new SRP loan in 2026. First-time buyers who need more than 90% financing now use SJKP or, if they are civil servants, LPPSA.
Q: What replaced Skim Rumah Pertamaku?
The government moved first-time buyer support to the Skim Jaminan Kredit Perumahan (SJKP) under Budget 2023. SJKP guarantees housing loans so that participating banks can finance more than 100% of a first home. Standard SJKP financing is up to RM500,000, and under the SJKP MADANI variant in Budget 2026 a bank can finance up to 120% of the purchase price, capped at RM360,000, to cover insurance, fees and renovation, with SJKP guaranteeing the loan.
Q: Can I still get 100% or 110% financing for my first home in Malaysia?
Yes, but only through a guarantee or government scheme, not a normal bank loan. SJKP lets participating banks lend more than 100% of the price to cover insurance, legal fees and valuation. LPPSA offers up to 100% to civil servants. A normal housing loan is usually capped at 90%, so you need a 10% downpayment.
Q: What first-time home buyer schemes are available in Malaysia in 2026?
The main ones are SJKP (credit guarantee for up to 100% or more financing), LPPSA (civil servants), affordable housing under PR1MA, RUMAWIP and state schemes such as Rumah Selangorku, and the first-time buyer stamp duty exemption on homes up to RM500,000. You can also withdraw EPF savings to help with the downpayment. Our first-time buyer schemes guide compares them.
Q: Who is eligible for SJKP in 2026?
For SJKP MADANI, you must be a Malaysian citizen aged 18 or over buying your first home, which can be new, subsale or bought at auction. Your total loan repayments must be no more than 65% of your gross monthly income, and your CCRIS record must show no arrears of more than 2 months in the last 12 months. The participating bank then applies its own credit checks.
Q: Do first-time buyers still get a stamp duty exemption in 2026?
Yes. Malaysian first-time buyers of homes priced up to RM500,000 pay no stamp duty on the memorandum of transfer or the loan agreement, for SPAs signed from 1 January 2026 to 31 December 2027. You must never have owned a residential property, including one you inherited or received as a gift. On a RM500,000 home with a 90% loan this saves RM11,250 (RM9,000 on the transfer plus RM2,250 on the loan). See our stamp duty guide for the full rates.
Q: How much financing did Skim Rumah Pertamaku (SRP) offer?
SRP let participating banks lend up to 100% of the price, so buyers needed no downpayment. From 2019, buyers with household income of RM5,000 or less buying a home of RM300,000 or less could get up to 110%, with the extra 10% covering insurance and fees. These terms ended when the scheme closed on 1 April 2023.
Q: What was the maximum property price allowed under Skim Rumah Pertamaku?
The price cap was RM500,000 for a residential property, new or subsale, and RM300,000 for the 110% tier. Individual applicants had to earn RM5,000 a month or less, and joint applicants up to RM10,000 together. The scheme has since ended, but RM500,000 is still the ceiling on standard SJKP financing and the price cap for the first-time buyer stamp duty exemption.
