Skim Rumah Pertamaku-𝙞
Skim Rumah Pertamaku-𝙞 (SRP-𝙞 )
- Skim Rumah Pertamaku-𝘪 is a scheme that allows homebuyers to obtain up to 110% financing from the participating Islamic financial institutions (IFIs), enabling them to own a home without having the need to pay a 10% down payment.
- This scheme is a home ownership initiative that was first announced in the 2011 Budget by the Government of Malaysia to assist first time homebuyers earning a gross monthly household income of up to RM10,000 (subject to RM5,000 per applicant) to purchase their first home.
- Under this scheme, Cagamas SRP Berhad (CSRP), a wholly owned subsidiary of Cagamas Holdings Berhad will guarantee from 10% -20% as ‘first loss’ protection on an Islamic mortgage portfolio while the Islamic mortgage assets remain on the IFI’s books.
- This scheme is formulated under Shariah principle of Kafalah, Wakalah and Hiwalah.
Details on the Scheme can be found at its website: http://www.srp.com.my/