Government’s subsidy on your first home loan: What you need to know
The government subsidy, known as FLISP (Finance Linked Individual Subsidy Programme), provides a subsidy ranging from R30 001 to R130 000 to first-time home buyers whose income ranges from R3 501 to R22 000 per month.
The subsidy is paid out before you apply for the home loan, so you can use it as a deposit. You can also pay it into an existing home loan to reduce interest rates and long-term repayments.
However, in order to qualify for FLISP you must never have received a government subsidy before.
How to apply? You can do so online through ooba Home Loans in less than three minutes. We submit the application on your behalf and monitor its status.
