How long does FLISP take to pay out?

First Home Finance (formerly known as FLISP) is a government subsidy aimed at first-time homebuyers with low income.

If you qualify for the subsidy, it will be paid to you within 7 days, depending on your application status (the subsidy ranges from R38 878 to R169 264).

If you apply for First Home Finance online with ooba Home Loans, we will monitor the application status and keep you updated as needed.

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.

Note that to qualify for First Home Finance, 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.