What is Skim Rumah Pertamaku (My First Home Scheme)?

Skim Rumah Pertamaku (SRP) was launched to help young homebuyers purchase their first property without needing the hefty 10% downpayment. It is guaranteed by Cagamas SRP Berhad.

Key Benefit: 110% Financing

Unlike normal loans (90%), SRP allows participating banks to offer up to 110% financing.

• 100% covers the house price.
• 10% covers the insurance (MRTA/MRTT) and related fees.
• Result: You pay RM0 downpayment upfront.

Eligibility Criteria

To qualify for SRP, you must meet these requirements:

1. Citizenship: Malaysian citizen.
2. First Home: Must be your very first residential property.
3. Owner Occupied: You must live in the property (not for investment/renting out).
4. Age: No age limit (previously was restricted to under 40, now open subject to bank tenure).
5. Income:
   • Gross monthly household income not exceeding RM10,000.
   • (Individual applicants: Gross income <= RM5,000 for some banks, check specific bank terms).
6. Employment: Confirmed employee with at least 6 months service OR self-employed with 2 years track record.

Property Requirements

• Type: Residential properties (completed or under construction).
• Location: Within Malaysia.
• Price: Maximum property value of RM500,000.

Participating Banks

Most major banks in Malaysia participate, including:

• Maybank
• CIMB
• Public Bank
• RHB
• AmBank
• Hong Leong Bank
• Bank Islam

How to Apply?

You do not apply at a government office. Instead:

1. Find a property valued under RM500k.
2. Go to a participating bank.
3. Tell the loan officer you want to apply under Skim Rumah Pertamaku.

Pros and Cons

Is it Right for You?

If you have a steady income but haven't managed to save RM30k-RM50k for a downpayment yet, this scheme is your best path to homeownership.

Check out our Guide to Buying Your First House for the next steps!