Frequently Asked Questions (FAQ)
Eligibility & Coverage
1. Is Housing Credit Guarantee Scheme (HCGS) for Bumiputeras only?
HCGS is open to all Malaysians aged 18 and above.
2. I am self-employed with an average monthly income of RM1,400 and I do not have a monthly pay slip. Am I eligible to apply for the housing loan under the HCGS?
3. I am self-employed and I do not have a fixed income. However, my wife works as a clerk in a legal firm and she earns fixed monthly income. Thus, are we eligible to apply for the HCGS?
4. Is the HCGS limited to housing development under the State Government / Federal Government Agencies only?
5. Is the HCGS limited to newly built houses only?
6. I am self-employed and plan to buy a shophouse for my business. Therefore, am I entitled to apply for the HCGS?
7. I am self-employed and intend to buy a condominium. Am I entitled to apply for the housing loan under this HCGS?
8. I have a piece of land and plan to build a house on that land. Am I entitled to apply for the HCGS to finance the cost of building the house?
9. I have a low cost house and I intend to apply for a home refinancing facility. Therefore, am I eligible to apply for the home refinancing facility under the HCGS?
Loan & Repayment
10. How long is the loan repayment period?
Financing tenure is up to 35 years or up to the tenure of the loan financing, whichever is earlier (two generation financing allowed).
11. I have reached the age of 55. Therefore the balance of my loan repayment period is just 10 years. Can the loan repayment be made together with my son / daughter in order to extend the repayment period?
12. Am I restricted by certain terms and conditions if I want to sell a house which was bought under the HCGS?
Application Process
13. I am interested to apply for the housing loan under this scheme. Do I have to go to SJKP Berhad's office to submit the application?
Application can be made at any branch of the participating financial institutions and not directly to SJKP's office.
14. Under this scheme, how much is the charges / fees that a borrower has to pay to SJKP?