No payslip? RM20 billion in home loan guarantees for first-time buyers
The government will guarantee up to RM20 billion in home loans for 80,000 first-time buyers, mainly gig workers and the self-employed without a fixed income. It is a guarantee to the bank, not cash: you apply at a bank and still repay the loan.
The guarantee runs through the Housing Credit Guarantee Scheme (SJKP). Banks often turn down people without payslips. With the guarantee, the bank can judge your income from bank statements and a self-employment declaration.
Under the current scheme rules, you must be Malaysian, aged 18 or above and buying your first home. Financing goes up to RM500,000. Any changes for 2027 have not been announced.
From 2027, first homes up to RM500,000 pay no stamp duty on the transfer and the loan agreement. For homes up to RM750,000, the first RM500,000 is exempt and the rest gets 50% off. This applies to sale and purchase agreements signed from 1 January 2027 to 31 December 2030.
The bank still decides. To prepare, bank your income regularly for 6 to 12 months, file your taxes and keep your platform earnings statements.
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Checked on 12 October 2026
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