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Homeownership is not beyond reach for low-income earners. Apply online for First Home Finance (formerly FLISP) to receive a subsidy.

Article summary

  • First Home Finance (formerly FLISP) is a government subsidy aimed at low-income home buyers.
  • You can apply online with ooba Home Loans. We submit your application and monitor its progress.
  • If your application is approved, you receive a subsidy ranging from R38,878 to R169,264, which you can use as a deposit or pay into your home loan.

If you’re a low-income earner and you think homeownership is out of reach, think again. First Home Finance (formerly known as FLISP) is a government subsidy specially intended to help low-income earners purchase a home.

Apply for First Home Finance online

You can apply through a financial institution, but we make it easier. At ooba Home Loans, you can apply online simply by filling in the form.

Find out if you qualify and apply with us. We submit the application form on your behalf and monitor the progress of your application so we can update you as needed.

Apply for the subsidy

with ooba Home Loans. 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.

What do I need to apply?

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.

How much is the subsidy?

The subsidy ranges from R38,878 to R169,264, depending on your income. The lower your income, the higher the subsidy.

What can I do with the subsidy?

The subsidy can be used:

  • As a deposit on your home loan.
  • As an extra payment in your home loan. Use our Extra Bond Payments Calculator to determine by what amount said payment would reduce your monthly repayments.

First Home Finance will also help you acquire a home loan, as the bank will know that you have finances available to use as a deposit or pay into the home loan.

The deposit or extra repayment can in turn reduce your interest rates, saving you in the long term.

Can I use the subsidy to build a home?

You can indeed.

Can I apply for a home loan at the same time

You can do exactly that with ooba Home Loans. We submit your application to multiple banks so that you can compare deals and choose the best one.

This, in addition to qualifying for the First Home Finance subsidy, will grant you a high chance of approval.

Making homeownership a reality

So if you’re a low-income earner, take this opportunity to become a homeowner, acquiring a powerful asset that can be passed down to your children.

Apply for a housing subsidy

FLISP offering homebuyers a subsidy on their first home.

Do I qualify?

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Simply The Best

Ooba home loans services are simply the best. My Consultant Bianca Dancer was so hands on and helpful from the get go. She guided me through the entire process and put me at ease being a first time buyer. I highly recommend their services.

Tia J

Excellent Service

Jay Govender and Maleshini Reddy from OOBA provided outstanding assistance and guidance in securing our home loan. Response times were excellent and they were professional and friendly.

Brice G

Bond Application

Estelle Vorster was really helpful in securing the best deal for my home loan, she not only negotiated a lower interest rate she went as far as securing 50% discount on the transfer costs.

Butana M