People who fall within the income bracket of R3 501 to R22 000 qualify for a FLISP subsidy.
- 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 all these criteria, you can apply for FLISP after you have had your home loan application approved. The subsidy will then be paid directly into your home loan account, or your attorney’s trust account.
The amount granted to you depends on your income. The lower your income, the higher the subsidy, which ranges from R30 001 to R130 000.