Questions & Answer First home scheme:Apply housing loan online.

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 1)For customers who purchase service apartments,will enjoy "My first home scheme"?
Yes,as long it is for residential purposes

2)Can Malay reserved land offer this package?
No,Currently Malay reserved Land is out of this scheme .

3)If the applicant has no loan financing before but has a car financing of RM330,000 and he earns less than RM 5000 can he apply this scheme?
No,as the car financing of this amount is abnormal for person earning RM5000 or less.

4)Is the down payment (eg:10 %)to be paid to vendor or developer be disbursed by the Bank upfront?
No,Bank will not disbursed 10% first as securing documentation is not in place yet.The bank will reimburse the 10% as the last stage of disbursement.


5)If the property is under strata title,can customer apply under this package?
Yes,they can apply as long as the property is deemed residential in nature.

6)Can customer withdraw from EPF to pay the downpayment although he is eligible for 100% loan
Yes,we have checked with EPF and they have agreed to allow applicants of this scheme to withdraw from their EPF to pay the down payment.

7)If I self employed and my average income less than RM 5000,Am i eligible fo the scheme?
No,the scheme is applicable to employees in the private sectors only.Applicant must confirm employees with minimum employment period of 6 months with the same employer.

8)I am self employed,my spouse works in private sector company earning RM 4000 per month.Are we eligible as joint applicants under the scheme?
No,all applicants(including join applicants)must meet the citizenship,first home,employment,age and income criteria.

9)My friend and I meet all the criteria.Can we jointly apply for financing under the Scheme?
No,joint applicant must be family members,ie husband and wife or siblings only.

10)My existing financing taken up for the purchase of my first home.Am I eligible to refinance the loan/financing under the Scheme?
No,the Scheme is strictly for new purchase of first home and does not cover refinancing of an existing financing.

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