Buying a property in Malaysia can present considerable challenges and obstacles such as loan rejections from financial institutions, but what alternatives are available to help you realize your dream of homeownership?
If you’re a government worker or a civil servant looking to acquire a new property, this article is for you. Lembaga Pembiayaan Perumahaan Sektor Awam (LPPSA), also known as the Public Sector Home Financing Board, offers a housing loan initiative that bridges the gap between property prices and the approved loan amount, lowering the barrier for government workers to own a home.
There are seven types of LPPSA loans catered to different financing needs. Every loan applicant must fill up an application form to initiate the loan application process. Eligibility reviews for LPPSA loans are conducted based on the applicant’s salary statement, without considering any external commitments such as other outstanding bank loans.
Civil servants can enjoy these benefits from LPPSA Financing:
Examples of civil servants who are eligible to apply include:
You can determine the eligibility of financing amount by using the Financing Calculator provided on the LPPSA website. Based on the LPPSA financing eligibility schedule, the monthly instalment for loan repayment should not exceed 60% of your net income, and your total debt should not exceed 80% of your net income.
Generally, once you have determined your financing eligibility, you may follow the LPPSA financing process below:
The documents that need to be prepared and fully completed for applications in the public sector housing financing are as follows:
After the application is submitted, the financing approval process will take approximately 6-21 days, depending on the type of loan applied for. Incomplete documentation may result in a rejection of the application, so ensure that all information is accurately updated!
You may visit the official LPPSA website to know more. Alternatively, you may also speak to our sales team and they will assist you in finding the right financing options for your new home!
WhatsApp: 012 322 8860
Hotline: 082 288 860
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