Housing Loans

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Eligibility Criteria of Housing Loans

  • The loan is for the purchase of a completed Residential Unit or for construction or renovation of a Residential Unit
  • The loan is repayable in Ringgit Malaysia
  • Fully disbursed
  • 12 monthly installments must have been paid
  • Remaining maturity must not be less than 5 years or more than thirty 30 years
  • Repayment of principal or interest must not be suspended, rescheduled or restructured 6 months prior to purchase date
  • Payment record must not be more than 1 month past due in the 12 months period prior to purchase date
  • Monthly installment must be greater than 110% of the interest portion of the monthly installment
  • The housing loan interest rate must be > the aggregate of servicer fee 0.75% per annum and the Cagamas Base Pricing
  • The servicer fee shall be at least RM300 per annum
  • Loan-to-value ratio should not be more than 80%, i.e. outstanding principal amount plus redraw amount (if any) divided by property value
  • If leasehold land, remaining leasehold tenure must at least be 20 years upon expiry of loan tenure

Other requirements for a housing loan to be eligible for sale to Cagamas are provided in the Cagamas Purchase Without Recourse Guide.