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, earning RM3,000 per month or less 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 “rakyat”.
Many may be asking – how does this work? Is there a special government agency set up for this scheme? Do I need to apply to any government agencies to qualify for this 100% housing financing? You may find the answer below.
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