What is the BSN MyHome (Youth Housing Scheme)?
BSN MyHome or Bank Simpanan Nasional MyHome is a first-time homeownership scheme, designed to help single or married youths own their very first home with ease by offering to finance the purchase of either completed, under construction or sub-sale property.
Features
- Participants must have a household income not exceeding RM10,000 per month.
- A 100% of stamp duty exemption for the first RM300,000 on purchase of first property, for property price up to RM500,000.
- Participants will also receive assistance from
- the government in the form of monthly instalments of RM200 per month that will be credited to their financing account for 2 years.
Property Price
- Minimum – RM 100,000.
- Maximum – RM500, 000.
Margin of Financing
- Up to 100% of the property purchase price/market price.
- MRTA – Up to a maximum of 5% of the purchase price/market price.
Have you found your dream home? Have a read on what cost you should be aware of before it can be a reality.
>>7 necessary costs when buying your dream home<<
Loan Period
- A minimum of 5 years.
- A maximum of 35 years.
Note: For self-employment, the maximum age is 70 years.
Interest Rate
- Pricing range between BR +0.60% up to BR+1.00% subject to participants’ profile and property location.
- For a loan amount of RM350,000 and above with 30 years of loan tenure, the indicative interest rate is BR + 0.08%.*
*Subject to terms and condition.
Criteria
- Must be a Malaysian citizen, aged 21 years to 45 years old.
- Single or married with a household income not more than RM10,000 per month.
- First-time house purchaser.
- Individual / joint loan.
- BSN GIRO / GIRO-i account holder.
- Proof of property purchase.
For more information on the BSN MyHome (Youth Housing Scheme), please do click here.
Or have a chat with us, where our dedicated team will help you find the perfect dream home and make it a reality – be it a house, apartment or condominium for yourself or with your partner.
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