KUALA LUMPUR: The Housing Credit Guarantee Scheme has approved RM20.9 billion in financing guarantees covering 88,507 applications since its 2008 inception.
Deputy Housing and Local Government Minister Datuk Aiman Athirah Sabu confirmed the fund received an additional RM10 billion allocation this year.
“For the low-income (B40) and middle-income (M40) groups, the government provides SJKP financing guarantees of up to RM500,000 for the purchase of a first home, whether new, existing or auctioned,” she said.
She addressed Senator Datuk Koh Nai Kwong’s query regarding youth homeownership challenges during today’s Dewan Negara session.
Aiman Athirah highlighted the rent-to-own scheme’s expansion across multiple states including Kedah, Kelantan, and Selangor.
She explained the Step-Up Financing concept enables lower initial repayments for young buyers during the first five years.
The Home Ownership Campaign 2.0 extension until December 31 provides stamp duty exemptions for first-time buyers of properties up to RM500,000. – Bernama