Bank Negara opens RM1bil home loan scheme to bigger group of first-time buyers

KUALA LUMPUR: Bank Negara is opening up the RM1bil fund for affordable housing, introduced in January this year, to a bigger group of first-time home buyers.

From Sept 1 onwards, the scheme will be opened to buyers with a maximum monthly household income of up to RM4,360. Previously, the eligibility was capped at household earnings of less than RM2,300 a month.

Buyers can also afford to use the scheme to purchase houses of up to RM300,000 a unit. This is double the previous limit of RM150,000.