PETALING JAYA: Owning a home is a dream many Malaysians aspire to, but financial constraints often make it difficult for low-income families and underserved communities to achieve.
Recognising this challenge, Yayasan My First Home (YMFH) was established in December 2021 to provide interest-free housing loans and build homes for those in need.
According to YMFH general manager Nambee Ashvin Nambiar, the foundation is committed to assisting first-time homebuyers with limited financial means, ensuring that more Malaysians have access to safe and affordable housing.
He explained that to qualify, applicants must be first-time homebuyers with a household income below RM5,000. The programme supports homes priced below RM300,000, with full financial assistance available for houses under RM100,000, subject to specific terms and conditions.
Additionally, applicants must have applied for a housing loan or had their loan approved by the bank.
YMFH serves as a platform that unites various stakeholders, including housing developers, financiers, donors, NGOs and government agencies, to collectively address housing challenges faced by low-income groups.
Nambee highlighted that the foundation’s primary objective is to increase homeownership rates among underserved communities by working closely with stakeholders to provide financial assistance and support.
“YMFH also implements programmes and schemes designed to nurture and assist homebuyers through partnerships and sponsorships from private and government entities.
“Additionally, the foundation collaborates with NGOs to conduct studies, research and surveys to identify and evaluate the challenges faced by low-income families, ensuring that their needs are effectively addressed.”
For the Orang Asli community, YMFH has gone beyond financial aid, acknowledging the unique challenges they face in securing proper housing.
Since its inception, YMFH has made a significant impact, helping 63 families secure homes.
Among them, 58 families have received interest-free housing loans, while five Orang Asli families were provided with newly built homes.
To date, the foundation has built five houses – two in Tapah, Perak, one each in Muadzam Shah and Raub in Pahang, and one in Hulu Selangor – providing these families with a place to truly call their own.
With 10 more houses currently under construction, YMFH remains committed to expanding its reach.
Nambee emphasised that their next goal is to assist those who already own land but lack the means to build, ensuring more families transition from inadequate housing to secure and sustainable homes.
“We believe that no one should be deprived of a home due to circumstances beyond their control.”
For many beneficiaries, YMFH’s support has been life-changing.
Nambee said for years, a community of squatters lived in dilapidated houses on government land slated for redevelopment.
Though they were offered new homes as part of a relocation scheme, many struggled to secure a housing loan, leaving them in a vulnerable position.
“Many were small-time business owners or held informal jobs, such as working in school canteens, making them ineligible for conventional bank loans.”
Desperate and out of options, some families considered turning to illegal moneylenders, a decision that could have trapped them in lifelong debt.
Recognising their struggles the foundation stepped in, providing full, interest-free housing loans, allowing them to finally purchase the homes they were promised.
“Today, seven former squatter families have moved into their dream homes, enjoying a quality of life they once thought impossible.”
Looking ahead, YMFH plans to build 100 houses for the Orang Asli community and assist more Malaysians with homeownership costs, including deposits and legal fees.
Through strategic partnerships with housing developers, financiers, NGO and government agencies, the foundation remains steadfast in its commitment to ensuring that financial barriers do not stand in the way of a better future.
With continued support and collaboration, YMFH hopes to help even more Malaysians turn their dream of homeownership into reality.
