The South African government provides a home loan grant in the form of First Home Finance. This is a subsidy ranging from R30 001 to R130 000, aimed at low-income earners.
You need to 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.
If you do, you can apply for First Home Finance and receive a subsidy to help you get on the property ladder. It’s a chance for low earners to acquire a valuable asset.