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January 21, 2021
Good news for those who plan to buy a house this year! The Youth Housing Scheme (Skim Perumahan Belia) is open for applications until 31 December 2021.
The Youth Housing Scheme is a house purchase support by the government of Malaysia to allow young people to receive a monthly house installment incentive of RM200. It’s a program designed to help both single and married youths to take that first important step into property ownership.
How Does The Youth Housing Scheme Work?
Government offers financing for completed, under construction, or sub-sale homes, providing comprehensive support that covers property purchases throughout Malaysia’s housing market. Youth Housing Scheme covers properties from RM100,000 up to RM500,000 for eligible applicants aged 21-45, and the total monthly household income cannot exceed RM10,000.
Under the Youth Housing Scheme, an applicant can receive a monthly bonus of RM200 to pay house loans for up to 2 years. Stamp duty on the first RM300,000 house price will be exempted through this scheme. The RM200 bonus will be distributed monthly through BSN’s GIRO / GIRO-i account.
Benefits of Youth Housing Scheme
-
100% housing loan cover
- RM200 monthly installment support from the government in the first 2 years.
Youth Housing Scheme Eligibility
- Malaysian Citizen
- 21-45 years old
- Single or Married
- First Time Buyer
- Household income below RM10,000 per month
- Property price between RM100,000 – RM500,000
What documents need to prepare?
The main documents you are required to submit are the application form, your NRIC, stamped Sale & Purchase Agreement. Together with these documents, you attach the following:
- Salaried Applicant/Co-applicant (spouse only)
- 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
- Employer Confirmation Letter/HRMIS (Government servant)
- Side income documents (if any)
- Self Employed Applicant/Co-applicant (spouse only)
- Company’s registration (SSM)
- B/BE Form + LHDN Receipt
- Company’s Financial Statement
- 6 months’ company bank statement.
- Other documents i.e site visit report etc
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