.png)
STEP TO
OWNING A HOME
Ready to Buy a Home?
Check This First!
1
REGISTRATION
Register yourself at seripajam.com.my or visit any of our sales gallery. Our sales personnel will be happy to provide you with registration forms in which you can state your preferred location and type of property.
2
SELECT A UNIT
Prior to a launch, registered buyers will get preferential choice in the selection units and this will be done on a first come first serve basis.
3
LETTER OF OFFER
Prior to a launch, registered buyers will get preferential choice in the selection units and this will be done on a first come first serve basis.
4
Sales & Purchase Agreement
Execution of the Sales & Purchase Agreement must be done at our appointed solicitor’s office.
5
Loan and EPF Withdrawal
Assistance will be given in the application for a house loan from our panel of end-financiers. EPF members, who would like to make withdrawal from your EPF account, please obtain the necessary forms from the EPF Office or download it at KWSP Website www.kwsp.gov.my.
A. DOWN PAYMENT
10% of the total purchase price OR the difference between the loan amount and purchase price for 1st and 2nd houses.
Minimum of 30% of the total purchase price for 3rd house onwards.
B. COST RELATED TO
SALES AND PURCHASE
AGREEMENT
i) Legal Fees
Purchase Price
First RM500,000
RM 500,001 to RM 7,500,000
Any amount exceeding RM7,500,000
Charges
1.25% (Subject to a minimum fee of RM500)
1%
Negotiable (shall not exceed 1%)
ii) Stamp Duty
Purchase Price
First RM100,000
Subsequent up to RM500,000
Subsequent up to RM1,000,000
Subsequent onwards
Charges
1%
2%
3%
4%
C. COST RELATED TO
LOAN AGREEMENT
i) Legal Fees
Similar to the Sales and Purchase Agreement Legal Fees.
ii) Stamp Duty
Charges
0.500%
Loan Amount
Total Loan Amount
Bank Loan Application Checklist
Understanding Your Debt Service Ratio (DSR)
Your Debt Service Ratio (DSR) and risk profile are weighted more heavily compared to your property valuation and maximum Loan to Value (LTV) that's available to you. An individual’s DSR shows a bank your financial ability to pay your debts and calculates accordingly how much of a person’s income is used to pay all their debt instalments, represented in %:
Understanding Your Debt Service Ratio (DSR)
Total Debt Repayments Including Loan Applied for (Bank & Non-Bank)
Debt Service Ratio % (DSR) =
Total Nett Income After Statutory Deduction (i.e., Tax, EPF, SOCSO)
Government Loan Entitlement
Income-Based Loan Eligibility
%20(2).jpg)
Income-Based Loan Eligibility:
Basic Salary + Fixed Allowance* (RM)
Max Amount Eligible (RM)
6,500 and above
6,000
5,700
5,500
5,000
4,700
4,500
750,000
720,000
680,000
650,000
600,000
560,000
540,000
Basic Salary + Fixed Allowance* (RM)
Max Amount Eligible (RM)
4,300
4,000
3,800
3,500
2,900
2,300
Up to 1,700
510,000
470,000
450,000
420,000
340,000
270,000
200,000
DO YOU NEED TO GET EPF FOR DOWNPAYMENT ?
EMPLOYEES PROVIDENT FUND (EPF) WITHDRAWAL PROCEDURE
Application Eligibility
-
Member is a Malaysian citizen or non-Malaysian.
-
Has not reached age 55 at the time the EPF receives member’s application; AND
-
Has at least RM500 in Account 2.
Account 1
Account 2
Account 3
% of distribution from monthly contribution
75%
15%
10%
Purpose of Account
Savings dedicated for retirement. Withdrawals are only allowed once you reach the age of 55.
Savings for housing, education, medical needs, or partial withdrawal at age 50.
Flexible savings for short-term needs. Withdrawals allowed anytime with a minimum of RM50, subject to available balance.
Procedure
-
Submission of EPF withdrawal form (Form KWSP 9C(AHL)) KWSP 9C (AHL) (D5)
-
The original copy of the Sales and Purchase Agreement.
-
Photocopy of your Identification Card.
-
A copy of the letter of loan approval from your end-financier.
-
Proof of relationship
CHECK LPPSA ELIGIBILITY
1
successful* / query* /
rejected*
5
online application
of sppb & documentation
2
step by step guide to lppsa mortgage application
Delivery of original documents to lppsa
4
preparation of documents
3
