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Can You Buy a House With 100% Financing? Yes, Here’s How

BY Team Loanstreet

Updated 10 Dec 2021

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A lot of people would want to buy a house if it’s just like buying teh tarik ikat tepi. Thanks to the property price boom of past years, most of us can agree that owning our dream home is almost like a fairytale - out of reach.

Saving up enough for a down payment isn’t a walk in the park. According to The 2019 Malaysian Home Survey, 23% of Malaysians said they couldn’t afford the down payment. An additional 13% were unable to secure the home financing necessary to complete the purchase. These are the two most common obstacles when it comes to buying a house, especially for a first-time home-buyer. 

That said, if you identify with the challenges above, we have good news. It is still possible for you to own a house. 

No way - HOW?

What's covered in this article?

“With HouzKEY lah. That’s how!”

To those who aren’t familiar, HouzKEY is a homeownership financing solution offered by Maybank Islamic Berhad to assist first and second home Malaysian buyers in owning their dream home. 

It’s available for properties offered by Maybank's partnering developers, which include new launches, under-construction and completed properties. You can check out the properties available under HouzKEY HERE.

As an applicant, you can start with 5 years tenure and have the flexibility to continue for up to an additional 30 years. Thus, the maximum tenure that can be offered is up to 35 years (or up to 70 years old, whichever earlier).

So, how does HouzKEY increase your chance of owning a home?

1. No down payment is required.


Yup, you don’t have to come up with a 10% down payment because HouzKEY provides 100% financing. You’re only required to pay a 3-month security deposit upon signing the financing agreement.

Since you don’t have to fork out 10% anymore, you can use those additional savings for other important matters like family commitments, children’s education, investment, home renovations, etc. 

2. Low monthly payment


Did you know that high DSR affects your home financing affordability? High total monthly payment is one of the factors that increase your DSR, inadvertently reducing your borrowing ability. Not to mention causing you to be tight on cash every month.

With HouzKEY, you'll be enjoying lower monthly home financing payments at the best rates. 

3. Apply with up to 3 guarantors

With HouzKEY, you can pool in income with up to three guarantors. The total income and obligation of all the guarantors will be considered when you apply, which will help with your financial position. 

Take note, they must be family members like a spouse, parents or siblings (18 to 70 years of age). 

4. No payment during construction

Fret not, if the property you are purchasing is still under construction, Maybank Islamic will help you finance the progressive profit during construction, hence, you’re not required to pay any instalment during construction. Your obligation and commitment to make payment will only commence upon delivery of Vacant Possession of the Property.

This would save you some monies, especially when you’re currently renting elsewhere and are waiting for your dream home to be completed. During this period, you don’t have to worry about making multiple payments.

Why HouzKEY by Maybank Islamic could be an ideal solution for you?

To give you a better perspective, refer to the below table that illustrates a comparison between HouzKEY and the usual Mortgage. This is based on an RM500,000 property under construction with 30 years tenure.

  HouzKEY Mortgage
Rate1 Profit Rate: 3.20%
Campaign Rate: 2.88% 
Profit Rate: 3.20%
deposit/down payment
RM 3,600
(security deposit)
(down payment)
Estimated upfront cost2 RM 19,940 RM 17,500
Estimated payment for
progressive during
RM 03 RM 25,000
Monthly instalment  RM 1,200  RM 1,9464
Total payment over 5 years RM 89,500  RM 209,266

Rate is subject to prevailing Islamic Base Rate and Bank’s assessment on the Customer.
Estimated upfront cost includes legal fees, disbursement and stamp duty for the sale & purchase agreement, HouzKEY Agreements, transfer agreement for a property with title. These costs may differ from project to project as they may be absorbed by the developer.
The progressive payment during construction is financed by the Bank and is only due as part of the contract Settlement Price.
Mortgage instalment illustration based on 30 years tenure.

As you can see from the table above, you only need to fork out a 3-month refundable deposit (RM 3,600) with HouzKEY, which is less than 1% of the property price, as an initial cost to own your dream home 
BUT, if you opt for the usual mortgage route, you’ll need to prepare more than 10% of the property price for the overall upfront costs (RM67,500). 

Based on the comparison above, HouzKEY can assist you in getting a home if your financing ability is limited, or have limited funds set aside for a down payment.

So, if you fit the bill and are financially steady, Maybank Islamic HouzKEY could be the solution you’ve been waiting for. 

“Alright, I’m interested! How do I apply for HouzKEY?”


But WAIT, is NOW a good time to buy?

If you’re earning a steady income, have dependable employment and have a good credit score, we suggest you to not wait too long and make that dream house a reality soon. Hear us out.

As most of you are aware, Bank Negara Malaysia (BNM) has decided to maintain an OPR of 1.75%. It means that it will impact banks’ Base Rate (BR) to determine the profit rate of your home financing. So when the OPR goes down, the rates on financing decrease, which results in lower costs for financing, lower monthly payments.

That’s not all. You should also take advantage of the government’s Home Ownership Campaign (HOC) initiative, which has been extended till 31st December 2021 for even better savings with 10% discounts and FREE stamp duty. According to a news report by The Edge, it could help you (homebuyers) save up to 4% of the purchase cost.

To know more about it, read “HOC 2021: Get 10% Discounts & Free Stamp Duty When You Buy a House.” You can also be on the lookout for the HOC logo on to find out which projects are applicable for better savings.

And, with a financial solution like HouzKEY that offers zero down payment, 100% financing with up to 3 guarantors, no payment during construction, and low monthly payment, owning a house is now achievable. You no longer need to strain your savings and cash flow. 

So, ACT NOW! To register or know more about Maybank Islamic HouzKEY, please visit

Good luck, home buyers!


*The above article is intended for informational purposes only. Loanstreet accepts no responsibility for loss that may arise from reliance on information contained in the articles.

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About the Author

Team Loanstreet

Run by a professional human-sized team, get resourceful tips & guides from our very own library of financial articles that can help improve your financial lifestyle & make a well-informed money decision. We strive to provide you with the best service in helping you to get the most out of that DUIT!


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