A5:       Yes, all applicants (including joint applicants) must meet the citizenship, first home, employment, and income criteria.

A6:       No, joint applicants must be family members, i.e. immediate family members (ie: father, mother, brother, sister, daughter, son and spouse)

A1:       Yes, the Scheme covers both Residential properties for completed and under construction in primary and secondary market.

A2:       Valuation of the property is subject to the bank's underwriting policy. Generally, banks will finance based on purchase price or valuation (open market value) from their panel valuer, whichever is lower.

A4:       The type of residential properties and locations are subject to participating banks' underwriting policies.

A1:       Yes. The Financial education is mandatory. It is offered free of charge through an easy self-assessment online portal called “Rumahku” at https://power.akpk.org.my/eLearning/Courses/View/40. For joint borrowers, all borrowers must undergo this module.

A2:       The purpose of the online learning “Rumahku” is to educate borrower(s)/customer(s) on their financial obligations and responsibilities

A3:       Yes. You are required to provide the certificate number/ID of the completed online learning “Rumahku” for processing of the loan/financing application

A1:      Application can be made at any branch of the participating banks.

A2:       Yes, the Scheme covers both conventional and Islamic financing.

A4:       MDTA / MRTT is optional unless it is under a promotional criteria as stated in Letter of Offer. However homebuyers are encouraged to take up MDTA/MRTT to protect their family from losing the property due to unforeseen circumstances.

A5:       The homebuyer would be required to pay a booking fee and/or deposit to the seller under the terms of the Sale and Purchase Agreement pending disbursement of the home financing by the bank.  When financing documentation is completed, the homebuyer would be reimbursed from the disbursement of the financing by the bank. The homebuyer may try to make an arrangement with the seller for deferment of deposit payment pending disbursement by the bank.  Such request is dependent on the seller's willingness to accommodate.

Malaysian citizen only

• Salaried worker or self-employed individuals
• Single or Joint Applicants
• Relationship eligibility for joint applicants – immediate family members (ie: father, mother, brother, sister, daughter, son and spouse)
• First time house buyer for own occupation
• No record of impaired financing for the past 12 months
• All outstanding debt repayment obligations from banks and non-banks (including those not covered by CCRIS) must not be more than 60% of monthly income after statutory deductions (ie. Tax, EPF, SOCSO) or maximum limit of the lending bank, whichever is lower.

• For property price up to RM300k – Gross monthly household income not more than RM 5,000 for single or joint applicants
• For property price > RM300k up to RM500k – Gross monthly household income not more than RM5,000 for individual applicants or not more than RM10,000 for joint applicants *Subject to maximum gross monthly household income of RM 5,000 per applicant.

• Latest 3 months salary slips
• Latest Borang BE (supported by tax payment receipt)
• Latest EPF statement
• Latest 3 months bank statement / Bank book
• Letter of employment

• Property value up to a maximum of RM500,000
  
• Completed & Under Construction Residential properties only from primary and secondary market
• Own Occupation
• Copy of Master/ Individual Title is compulsory

• Financing tenure not exceeding 35 years, subject to applicant’s age not exceeding 70 years at the end of financing tenure
• Amortising facility only (no redrawable features)
• Instalments payable via monthly salary deduction or standing instruction
• Compulsory fire insurance/takaful *
• For purchase of property priced up to RM300,000 and for applicants with gross monthly household income of not more than RM5,000:

a.) Mandatory to complete the online financial education module provided by AKPK which can be accessed from AKPK’s RumahKu portal at https://power.akpk.org.my/eLearning/Courses/View/40
b)Moratorium period of 5 years
c)Applicant may elect to meet a monthly repayment obligation of principal and interest/profit over the entire financing tenure; or opt for step-up financing, where the applicant repay only the interest/profit portion for the first five years of the financing tenure.

* In general, the Bank will purchase fire insurance/takaful on behalf of customers. Alternatively, homebuyers could purchase their own individual fire insurance from independent insurance company which the bank should be nominated as the loss payee. They need to submit the fire insurance report yearly to the Bank, to reassure the Bank that they have a valid fire insurance/takaful policy.