The Government of Malaysia, in introducing the Supply Bill (2008) at Dewan Rakyat on September 2007, recognised the difficulties faced by those without fixed income, such as farmers and petty traders to obtain financing facilities to purchase their dream home.

In order to overcome such difficulties, the Government has set up Syarikat Jaminan Kredit Perumahan Berhad (SJKP) as a wholly-owned company of the Minister of Finance, Incorporated on 6 December 2007 to guarantee the financing facilities provided by participating financial institutions.

On 24th February 2023 through Belanjawan 2023, the Government of Malaysia had announced RM5 billion of Housing Credit Guarantee Scheme with higher financing limit up to RM500,000 to further assist potential first time house buyers that have the financial ability to buy a house.