What is a first-time homebuyer loan?

It’s a subsidy provided by the government to first-time homebuyers.

The subsidy can help the homebuyer gain home loan approval, and can also be paid into the home loan, reducing interest rates and monthly repayments.

A first-time homebuyer loan that’s currently available is First Home Finance, which provides a subsidy to low-income earners (specifically those with an income ranging from R3 501 to R22 000 per month).