# MyFirst Home Scheme (Skim Rumah Pertamaku)

What Is It

Skim Rumah Pertamaku (SRP) or MyFirst Home Scheme is a national housing initiative launched by the Malaysian government in collaboration with Cagamas Berhad and Bank Negara Malaysia (BNM). It enables first-time homebuyers to secure up to 100% financing from participating banks, effectively removing the need for a 10% downpayment.

Who Is Eligible

  • Malaysian citizen first-time buyer.
  • Salaried employee or self-employed individual.
  • Single applicant with monthly income not exceeding RM5,000, or joint applicants with combined income not exceeding RM10,000.
  • No record of impaired financing/defaults within the past 12 months.

    • Required Documents

  • Copy of MyKad.
  • Sales & Purchase Agreement (SPA) or booking receipt for the property.
  • Latest 3 months' salary slips and latest 3 months' bank statements.
  • Latest EPF statement.
  • Latest tax return form (Form M/B/BE) or EA Form.

    • Step-by-Step Procedure

    1. Choose Property: Find a residential property priced up to RM500,000. 2. Visit Bank: Go to any participating bank branch (e.g. Maybank, CIMB, RHB, Public Bank). 3. Submit Application: Request the SRP scheme and submit your personal financial documents. 4. Cagamas Guarantee: The bank processes your loan and obtains a guarantee from Cagamas Berhad for the remaining 10% of the loan value. 5. Loan Approval: Receive the letter of offer for 100% financing. 6. Sign Loan Agreement: Complete the mortgage documentation and execute the SPA.

    Cost & Processing Time

  • Cost: Free application. Bank loan interest rates apply.
  • Processing Time: 14 to 30 working days for loan approval.

    • Where to Apply

  • Any branch of participating commercial and Islamic banks in Malaysia.
  • Online Information: [SRP Portal](https://www.srp.com.my)

    • Important Notes

  • The maximum property value eligible under this scheme is RM500,000.
  • The financing must be used for owner-occupancy (you must live in the house; renting it out immediately is prohibited).