If money has always been the biggest hurdle to getting your very own property, perhaps step-up financing is your solution. Read on to find out how step-up financing coupled with the Mah Sing H.O.M.E. campaign could finally allow you to purchase your dream home.
What is the Step-Up Financing loan plan?
In 2017, the 1Malaysia Peoples’ Housing (PR1MA) Corporation, introduced a special flexible loan scheme known as the Special PR1MA End Financing Scheme. This step-up financing loan plan was designed to allow middle-income groups earning between RM2,000 and RM15,000 to purchase homes. It was beneficial to these groups as they had access to a higher loan amount while enabling eligible applicants to pay their monthly mortgage at a lower amount than with regular loans.
Where can I apply for the Step-Up Financing loan plan?
Have we gotten your attention? Now comes the good part—you have your pick between three different banks that offer step-up financing loan plans. CIMB, Affin Bank, and Maybank each have their own packages. Below, we detail them so you can pick which suits your preference best.
|Step Up (Flexi Own)
|Home Step Fast-i
Get your dream home with Mah Sing H.O.M.E.
Alongside these banks that provide step-up financing, Mah Sing is also making it easier for you to own a home with the new Mah Sing Home Ownership Made Easy (H.O.M.E.) package. CIMB, Affin Bank, and Maybank are Mah Sing’s panel banks, making it more convenient for you to apply for their step-up financing loan packages.
These are more incentives you can enjoy with the Mah Sing H.O.M.E. campaign:
- Free stamp duties on specific Mah Sing projects (find out more here).
- Get additional rebates on Mah Sing projects that allows you to offset the 10% downpayment on your home.
- Debt service ratio (DSR) for step-up financing packages are based on the installments for the first five years, making it easier for you to get loan approvals.
- Lower monthly installment rates for the first five years of your loan tenure.
What are you waiting for? Purchasing a home is now more accessible thanks to the Mah Sing H.O.M.E. programme. Find out more about it here.