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Can we proceed with 100% loan margin?
In Malaysia, SJKP provides guarantees for housing loans, particularly aimed at helping lower and middle-income groups obtain home financing. The 100% loan margin in this context likely refers to a housing loan where the entire property value is financed, meaning the borrower doesn't need to provide a down payment.
Key points about 100% margin SJKP loans:
Full financing: The loan covers 100% of the property value, eliminating the need for a down payment.
Government backing: SJKP is a government initiative to increase homeownership among Malaysians.
Eligibility: Typically targeted at first-time homebuyers in specific income brackets.
Risk mitigation: SJKP provides a guarantee to the banks, reducing their risk in offering 100% financing.
Property types: Usually applicable to specific categories of residential properties.
Terms and conditions: May have specific requirements regarding the borrower's income, credit history, and the property's value.