First Home Finance is a government program that subsidises home purchase for low-income first-time homebuyers.
The subsidy ranges from R30 001 to R130 000 depending on your income. The lower your income, the higher the subsidy.
In order to qualify for First Home Finance, you must meet the following criteria:
- Your income must range from R3 501 to R22 000 per month
- You must be a South African citizen with permanent residency in South Africa.
- You must not have received a government housing subsidy before.
- You must be married or cohabiting OR single with financial dependents.
- You must be over 18 years old.
- You must not have owned a fixed residential property before.
You can apply for First Home Finance online with ooba Home Loans. We make the process quick and easy, submitting the paperwork for you and monitoring the process of your application.