Finance & First Homes
If you run a business, drive for a platform or earn on commission, the problem is rarely whether you can afford the instalment — it is proving it to a bank. That is the gap SJKP was set up to close.
Quick answer. SJKP guarantees your home loan so a bank will lend to you. It is for a first home you will live in, open to Malaysian citizens aged 18 and above with fixed or non-fixed income. Financing goes up to RM500,000, including MRTA and legal fees, as long as all your loan repayments stay within 65% of your gross monthly income. You apply at a participating bank, and SJKP charges you no fee.
You still borrow from a bank, at the bank’s rate. What changes is the bank’s risk: SJKP guarantees the loan, so a bank that would normally turn away an applicant without a payslip can approve one who can show a steady income in other ways. Under Budget 2026 the government added RM10 billion to the scheme, taking the guarantee fund to RM40 billion.
Because the fees count towards the RM500,000, the house itself needs to sit comfortably below it. 14 of the projects on my current list have an entry price of RM450,000 or below — see every project under RM500k.
If a normal home loan has already been turned down, why home loans get rejected explains what usually went wrong and what to fix before you try again.
Sources: SJKP — Housing Credit Guarantee Scheme eligibility, scheme features and FAQ (sjkp.com.my); EdgeProp on the Budget 2026 allocation. Bank criteria vary and the scheme can change — confirm with the bank before you rely on it. General information, not financial advice.
Compiled and reviewed by MaSk Chan, REN 49335 · IQI Global.
SJKP (Skim Jaminan Kredit Perumahan, the Housing Credit Guarantee Scheme) is a government scheme that guarantees a home loan so a bank is willing to lend to people who can afford the instalment but find it hard to prove their income — especially the self-employed and those without a fixed payslip. You still borrow from a bank; SJKP stands behind the loan.
A Malaysian citizen aged 18 or above, buying a first home to live in — new, subsale or auction. Both fixed and non-fixed income earners can apply, and joint applications are allowed. All your loan repayments together must not exceed 65% of your gross monthly income, with no more than two months of arrears in your CCRIS record over the past 12 months and no other adverse credit record in the past 24 months.
Up to RM500,000 in total, and that total can include the MRTA or MRTT, the house owner’s takaful, the solicitor’s fee and the valuation fee, not just the price. The tenure is up to 35 years, or the tenure of the loan if shorter, and two-generation financing is allowed.
Through a participating bank, not through SJKP itself — you can apply at any branch of a participating financial institution. The bank assesses your application and the interest or profit rate is set by the bank.
No. SJKP states that it does not impose any charge or fee on the borrower.
SJKP does not publish a single list — each bank sets its own. Expect to show that your income is real and steady: bank statements, business registration, tax returns or EPF statements are the usual places banks look. Ask the bank for its checklist before you go, so you bring everything at once.