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lppsa LOAN
LEMBAGA PEMBIAYARAN PERUMAHAN SEKTOR AWAM LOAN
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If you are a government worker seeking to buy a new property, this article is for you.
Lembaga Pembiayaan Perumahaan Sektor Awam (LPPSA), otherwise known in English as the Public Sector Home Financing Board, is a housing loan scheme aiming to easily provide housing loans for public sector employees, bridging the gap between property prices and approved loan amount.
It appears to be the case that not everyone has heard of this useful incentive since 53% of government employees are still renting.
It’s important to note that not all developments can be purchased through LPPSA. This scheme typically serves government-owned and residential-titled developments.
Properties that carry commercial titles, on the other hand, are normally not subject to LPPSA loans. Therefore, it would be useful to firstly check with the developer of the property to ensure that your desired home is officially registered under the LPPSA scheme.
6 FINANCIAL TYPE AVAILABLE ON LPPSA
Purchasing a completed home or residential lot.
Settling a housing loan debt with a financial institution / bank.
Purchasing a plot of land to build a house.
Building a home on your own plot of land.
Buying a home or residential lot that’s currently under construction.
Renovating a home or residential plot.
Eligibility
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A Malaysian citizen and Civil servants under Federal, State and selected Government Agencies or employees of selected GLCs
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Have a permanent job with at least 1 years with scheme pecen of service in the public sector
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Minimum gross monthly income (including fixed allowances) of RM1,500
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High loan commitment, CCRIS/CTOS can apply (for selected koperasi loan)