Rumah Selangorku Scheme

Selangor State Housing Policy is to materialize the goal of "One Family Residential Perfect One '. This is to ensure that all citizens or families have a place to live a good, comfortable and safe place to live. The State Government has introduced a new concept of housing, Perumahan Mampu Milik or "Affordable Homes" that gives more comfort either in terms of size, design or community. 


Now Low Cost Housing Low Medium Cost Houses, Medium Cost Housing and Affordable Homes known as Rumah Selangorku.

Source : lphs.selangor.gov.my

PR1MA Eligibility Criteria

The PR1MA Berhad has set certain PR1MA Eligibility Criteria that the applicants need to meet to qualify as aPR1MA home purchaser.  The applicants must :

• be a Malaysian citizen
• be at least 21 years of age
• have a monthly household income of RM2,500 to RM7,500
• own no more than one property
• adhere to other guidelines set-forth by the States

Monthly Household Income

In view that the PR1MA home objective is to assist middle-income citizens to own a house, PR1MA do screening your application carefully. One of the main criteria is on the monthly household income to ensure the right group of people will enjoy PR1MA home.

If your monthly household income is out of RM2,500 – R M7,500 range, you are considered an unqualified PR1MA applicants.

Important Notes for PR1MA purchaser !

1. PR1MA properties are subjected to a 10-year moratorium. During the first 10 years, you are not allowed to sell the property without prior approval from PR1MA.
2. PR1MA properties MUST be owner occupied.

Credit to : primahome

PR1MA

Perbadanan PR1MA Malaysia was established under the PR1MA Act 2012 to plan, develop, construct and maintain high-quality housing with lifestyle concepts for middle-income households in key urban centres.

PR1MA homes come in various types and sizes within an integrated community; sensibly designed to suit different household needs. Priced between RM100,000 to RM400,000, you can now own a home that is well within your reach. Earmarked for development in key strategic urban areas nationwide, PR1MA is open to all Malaysians with a monthly household income between RM2,500 to RM7,500.


Source : : pr1ma.my

My First Home Scheme Criteria

Key Features and Benefits                                                       

First Home purchase  (Subject to affordability)                     

• Up to 100%  financing
• Residential property only

Qualifying Criteria                                                                      

Eligible Borrowers                                                                      

• Must be a Malaysian citizen
• First time home-buyer
• Individuals up to age 35 years
• 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 RM400,000
• 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. Revised maximum tenure is in line with BNM's ruling announced on 5 July 2013
• Amortising facility only (no redrawable features)
• Installments payable via monthly salary deduction or standing instruction
• Compulsory Fire insurance/takaful

Source : srp.com.my

My First Home Scheme

Skim Rumah Pertamaku (SRP) - My First Home Scheme was first announced in the 2011 Budget by the Malaysian Government to assist young adults who have just joined the workforce to own their first home.

The Scheme allows young adults to obtain 100% financing from financial institutions, enabling them to own their 1st home without the need to pay a 10% downpayment. This is in line with the Government’s aspirations of increasing home ownership amongst the people.

In 2013 Budget, it was announced that the gross income limit was increased from RM3,000 to RM5,000 per month and certain qualifying criteria were abolished with effect from 1st January 2013.

Source : srp.com.my