Housing Schemes to Be Announced for B40, Graduates
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New housing financing schemes will be announced in September as the government pumps up efforts to help the B40 and fresh graduates to own homes, said Housing and Local Government Minister Zuraida Kamaruddin.
The minister is in talks with several financial institutions interested to offer the facilities that can help those in these categories to own homes.
The financing facility will be based on rent-to-own policy – where successful applicants need not pay a deposit and will be given five years before their financial status is reviewed for own eligibility.
The facility is offered to those earning not more than RM3,000 monthly. The desired house is not more than RM300,000.
PTPTN defaulters who have been placed under CCRIS (Bank Negara’s central credit reference information system) could also apply for the financing facility.
“I don’t think they will have any problems getting the loan because despite being in the system, fresh graduates have high creditworthiness."
“CCRIS on PTPTN defaulters is a blanket policy and not based on their creditworthiness,” she explained.
On the FundMyHome scheme, the minister said that 300 interested house buyers had applied for this with 50 of them successful to date. The loan initiative enables first-time house buyers the flexibility to obtain a loan of up to RM30,000.
The scheme is open to Malaysian first-time homebuyers in the B40 group for the purchase of a home priced RM300,000 and below from the FundMyHome platform.