The Malaysian government is aware of the difficulties faced by low income group and fresh graduates who just joined workforce in buying a house.

To assist this group of people, the government will introduce Skim Rumah Pertamaku through Cagamas Berhad which will provide a guarantee on down payment of 10% for houses below RM220,000. This scheme is available for first time house buyers with household income less than RM3,000 per month. In other words, these house buyers will obtain a 100% loan without having to pay the 10% down payment.

One thing need to be clarified is the determination of household income less than RM3,000 per month. If only the husband is buying the house and register his name alone, would the wife’s income be included in the household income threshold?

Besides, first time house buyers can enjoy a 50% stamp duty exemptions on sale and purchase agreements and loan agreements for buying a house not more than RM350,000.

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