BSN MyHome (Youth Housing Scheme)

Posted on: 2016-07-04

BSN MyHome (Youth Housing Scheme) is designed to help married youths own their very first home with ease.
»  This facility is offered for financing the purchase of either completed, under construction or sub-sale properties.
»  50% of stamp duty exemption on the transfer of ownership and facility documents.
» The Government is also to aid monthly instalments of RM200 per month that will be credited to customer’s financing account for a period of 2 years, from the date of first disbursement to the developer / vendor.
Property Price
»  Minimum: RM 100,000.00
»  Maximum: RM 500,000.00

Margin of Financing
»  Property: Up to 100% of the purchase price / market price (whichever is lower).
»  MRTA: Up to maximum 5% of the purchase price/ market price (whichever is lower).
Loan Period
»  Minimum : 5 years.
»  Maximum : 35 years (subject to age limit of not more than 65 years old at the end of the loan period).
Interest Rate
»  Pricing range between BR+0.45% up to BR+2.85% subject to customer’s profile and property location.
      Notes: »  Current BR is 4.10% p.a.

»   Malaysian citizen aged 25 to 40 years old (subject to age limit of not more than 65 years old at end of tenure).
»   Married with household income no more than RM10,000.00 per month
»   First time purchaser
»   Individual / Joint Loan
»   BSN GIRO / GIRO-i account holder
»   Proof of purchase
Document Required
»  BSN application form
»  Copy of NRIC
»  A valid marriage certificate
» Salaried Applicant / Co-applicant (spouse only)
    -  Latest 3 months’ Salary Slip
      Note: For single application, spouse of applicant must submit a copy of latest Salary Slip
   -  Latest 3 months’ bank statement
   -  Latest 6 months’ Salary Slip and bank statement (other income)
   -  EPF statement
   -  Employer Confirmation Letter
»  Self Employed Applicant / Co-applicant (spouse only)
    -  Company’s registration (SSM)
    -  B/BE Form + LHDN Receipt
    -  Company’s Financial Statement
    -  6 months’ company bank statement
    -  Other documents i.e site visit report etc.
»  Proof of purchase consisting of a copy of Property Sale and Purchase Agreement(S &P), which   has been stamped.
    If the S&P has not been completed, the deposit receipt /pro forma purchase orders is acceptable for the purpose of approving the application
»  A copy of valuation report (for the purchase of completed property from individuals / non-          developers) of BSN panel valuer
»  Master / Individual title (if any)
»  Statutory Declaration (SD) for the purchase of the first house and self-occupied
   (Note: Statutory declaration must be signed by the applicant and co-applicant/ spouse)

Late Payment Charges


Stamp Duty
»  Principal Documents - Will be charged on ad valorem basis.
»  Other Documents – RM 10.00


Source From: BSN

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