How to apply for the First Home Finance subsidy

Article summary

• You can apply online with ooba Home Loans; we make the process quick and easy.
• We submit the application form on your behalf and monitor your application status.
• The First Home Finance subsidy ranges from R30 001 to R130 000, and to qualify you must have an income ranging from R3 501 to R22 000 per month.

You can apply for the First Home Finance (formerly known as FLISP) subsidy with ooba Home Loans. We make it quick and easy.

Fill in the application form online. We’ll submit it on your behalf and monitor your application status, updating you as needed.

Why apply for First Home Finance?

First Home Finance is a government subsidy for low-income earners who want to purchase a home.

So if you’re a low-income earner, homeownership is no longer out of reach.

The subsidy ranges from R30 001 to R130 000, depending on your income. The lower your income, the higher the subsidy.

See the chart below for more detail:

You can use the subsidy as a deposit, or pay it directly into your home loan. Either approach will improve your chances of home loan approval, and reduce your interest rates.

First, ensure you 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 these criteria, it makes sense to take the opportunity offered by First Home Finance and make your first home purchase affordable by applying with ooba Home Loans.