Frequently Asked Questions

This depends on the financial institution’s internal policies.

Yes, as long as both are first time homebuyers.

Yes. Individual or joint applicants with gross monthly income not exceeding RM15,000 are eligible to apply under the scheme for properties priced up to RM1,000,000, subject to the participating financial institution’s underwriting and credit assessment, and maximum LTV/FTV of 100%.

No. Joint applicants must be immediate family members, such as spouse, parents, children or siblings, and they must all meet the eligibility criteria set under the scheme.

The objective of the initiative is to assist households in purchasing their first residential property. In this regard, a property obtained through inheritance is not considered as the applicant’s first home under the initiative. Therefore, individuals who have inherited a residential property may still qualify as first-time home buyers, subject to the eligibility criteria of the scheme.

No. The scheme does not cover refinancing of an existing housing financing.

The type of residential property and location must be within Malaysia and are subject to the underwriting policies of the participating financial institutions.

No. The scheme does not cover construction of a house on land owned by the applicant.

The maximum property value eligible under the scheme is RM1,000,000.

No minimum, subject to the financial institution’s own policies.

The maximum financing tenure is 35 years, or until the applicant reaches 70 years of age, whichever is earlier, and subject to the participating financial institutions’ policies.

For properties under construction, the financing tenure commence from the date the financing amount has been fully disbursed.

Yes. The scheme covers both conventional housing loans and Islamic home financing facilities offered by participating financial institutions.

Yes, the participating financial institutions will continue processing and approving the financing based on the scheme’s eligibility criteria and the respective financial institutions’ credit assessment and underwriting standards.

The DSR will be assessed based on the participating financial institution’s underwriting policy and credit assessment standards.

For financing above 100% up to 110%, the additional amount may be used to finance eligible Financing Entry Costs (FEC) such as:

• Insurance or takaful coverage e.g Mortgage Reducing Term Assurance (MRTA) / Mortgage Reducing Term Takaful (MRTT)
• Legal fees
• Valuation fees
• Stamp duty

No. Customers are fully liable to the financial institutions for the entire financing amount approved, regardless of the portion guaranteed under First Home MGP.

The mortgage guarantee only indemnifies the financial institutions against losses on the guaranteed portion and does not reduce the customer’s legal repayment obligation.

No. The scheme does not cover refinancing of an existing housing financing.

Refinancing is subject to financial institution’s terms. The guarantee typically does not continue after refinancing.

This depends on the respective participating financial institution's processing time, typically within a few working days if all documents are complete.

There is no income limit under the scheme.
However, applicants must meet the credit and affordability assessment conducted by the participating financial institutions.

Yes. Joint applications are allowed, subject to the participating financial institutions’ policies and credit assessment requirements.

The maximum property value depends on the financing purpose:

• RM2,000,000 for the purchase of certified green residential properties
• RM1,000,000 for the purchase of non-certified residential properties with green enhancement

No minimum, subject to the financial institution’s own policies.

Green MGP covers residential properties located within Malaysia, except for residential properties built on:

• Native title land
• Customary land
• Certain agricultural land with specific conditions
• Waqf land
• Malay Reserve Land

Yes.

For certified green residential properties, the scheme covers both completed properties and properties under construction.

For non-certified properties with green enhancement i.e solar PV installation, only completed residential properties are eligible.

The maximum financing amount depends on the financing purpose:

• Up to RM2.0 million for certified green residential properties
• Up to RM1.1 million for non-certified residential properties with green enhancement

The maximum financing tenure is 35 years, or until the borrower reaches 70 years of age, whichever is earlier, and subject to the participating financial institutions’ policies.

The DSR will be assessed based on the participating financial institutions’ underwriting policy and credit assessment standards.

For financing amount RM1.5 million and above, MRTA/MRTT or similar insurance/takaful coverage is required and must generally be maintained for at least:

• 12 years, or
• One-third (1/3) of the financing tenure, whichever is shorter.

No. Customers remain fully liable to the participating financial institutions for the entire financing amount approved, regardless of the portion guaranteed under Green MGP.

The mortgage guarantee only indemnifies the participating financial institutions against losses on the guaranteed portion and does not reduce the customer’s repayment obligation.