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).