First home buyer enjoy RM200 off per month as incentive from Youth Housing Scheme (Skim Perumahan Belia). It’s a good news for those who plan to buy a house this year. Youth Housing Scheme is open for application until 31 December 2021. This scheme is supported by government of Malaysia under MyHome BSN.  allow young people to receive a monthly house installment incentive of RM200. The program mainly designed to help young people to take  the first step to own a property.

Government offers financing for property as below:

  • Completed
  • Under construction
  • Sub-sales property
  • 100% housing loan cover
  • 100% exemption on stamp duty on Sales & Purchase Agreement and Loan agreement up to maximum property value RM300K. (For example, if the property price is RM500K, the first RM300K is exempted for the stamp duty charges. Buyer need to pay the stamp duty based on the balance of RM200K )
  • can include the cost for MRTA/ MRTT in the loan amount, maximum 5% based on the property price
  • RM200 monthly incentive support from government in the first 2 years
  • Malaysia Citizen
  • 21-45 years old
  • Single or Married
  • First time buyer
  • Applicant must own a BSN Giro / Giro-I account
  • Household income below RM10,000 per month
  • Property price between RM100K to RM500K

Mandatory documents

  • Application form from MyBSN
  • NRIC
  • Stamped Sales & Purchase Agreement

Attached with the following documents:
1) Under employment

  • Latest copy of 3 months’ salary slip
  • Copy of 3 months’ bank statement
  • Latest  6 months’ bank statement (if any other income)
  • Latest EPF statement
  • Employment confirmation letter / HRMIS (Government servant)
  • Side income documents

2) Under Self Employed

  • Company’s registration certificate (SSM)
  • B/BE Form + LDHN receipt
  • Company’s financial statement
  • 6 months’ company bank statement

Interest rate from BSN (Program Perumahan Rakyat)

Source: BSN website, extracted on: 19 July 2021

How to Apply:

Check For New Property Below RM500K:

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