LPPSA代表“ Lembaga Pembiayaan Perumahan Sektor Awam”。LPPSA is a statutory body tasked with administering housing loans for civil servants in the public sector. There are seven types of LPPSA loans to cater to different financing needs. Every loan applicant must fill up an application form to initiate the loan application process. Eligibility reviews for LPPSA loans are conducted based on the applicant’s salary statement, without considering any external commitments such as other outstanding bank loans.
Hence, LPPSA’s loan eligibility criteria is relatively lenient compared to other loan providers, allowing them to qualify for a loan via LPPSA where they would not have qualified for a typical private sector loan otherwise. More information regarding LPPSA loans can be found on LPPSA’s very own official website: http://www.lppsa.gov.my.
Purchasing through LPPSA is not available for all developments. This scheme typically serves government-owned and residential-titled developments.
In contrast, LPPSA loans are not available for commercial properties. 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.
Private sector workers can get loans from MBSB banks, while civil servants will receive loans from LPPSA. Through this scheme, civil servants will be able to reduce their monthly commitment by sharing the amount of the financing repayment. As a government employee, you should take advantage of this opportunity. You have the advantage of utilizing a home loan, so don’t miss out on the chance to own your dream home!