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).
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