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How does the first-time homebuyer program work?

First Home Finance (formerly known as FLISP) is a first-time homebuyer program aimed at low earners.

In order to qualify, 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 meet the criteria, you can apply online by filling in a form with ooba Home Loans. We make the application process quick and easy, submitting the form on your behalf and monitoring the progress of your application.

The process is as follows:

  • Submit the home loan application.
  • Fill in the form on our website.
  • After you’ve filled in the form, an ooba Home Loans consultant will get in touch to determine that you fit the profile for a First Home Finance subsidy.
  • The consultant completes and submits the prequalification form.
  • The outcome is reported to the buyer.

If your application is successful, you receive a subsidy ranging from R38 878 to R169 264, depending on your income (the lower your income, the higher the subsidy).

Apply for a housing subsidy

First Home Finance offers homebuyers a subsidy on their first home.

DO I QUALIFY?

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Simply The Best

Ooba home loans services are simply the best. My Consultant Bianca Dancer was so hands on and helpful from the get go. She guided me through the entire process and put me at ease being a first time buyer. I highly recommend their services.

Tia J

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Jay Govender and Maleshini Reddy from OOBA provided outstanding assistance and guidance in securing our home loan. Response times were excellent and they were professional and friendly.

Brice G

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Estelle Vorster was really helpful in securing the best deal for my home loan, she not only negotiated a lower interest rate she went as far as securing 50% discount on the transfer costs.

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