The Terengganu home ownership scheme would help those who do not meet loan application requirements of commercial banks. – HAFIZ SOHAIMI/THESUNIf your housing loan application for an affordable home in Terengganu is rejected by banks, fear not as the state government has set aside RM50 million yearly in interest-free loans.
There are two loan facilities under i-Rahman. One is for the purchase of houses from private developers called “Rumah Mampu Milik Terengganu” while the other is to enable borrowers to build houses on their own land under “Rumah Mesra Rakyat Darul Iman” . The price for an RMR Rahman unit is RM75,000, but those who are eligible for this scheme will only need to repay RM55,000 over 15 years. The remaining RM20,000 will be subsidised by the ministry.
“This is for those who have the money to make monthly loan repayments but are renting. They cannot get loans because they have no payslips to show,” Alias said.
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