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FLISP application 2024: How to apply for a housing subsidy

First Home Finance (FLISP) is a government subsidy aimed at low-income earners. Find out how to submit a First Home Finance application.

 

Flisp Application

Article summary

  • First Home Finance (formerly known as FLISP) is a government subsidy that helps first-time homebuyers with low income get onto the property ladder.
  • You can apply with ooba Home Loans. An OHL consultant will get in touch with you to guide you through the process.
  • Qualification criteria include having an income ranging from R3 501 to R22 000 per month.

First Home Finance (formerly known as FLISP) is a subsidy aimed at first-time homebuyers with low income.

If your income ranges from R3 501 to R22 000 per month, you can qualify for a subsidy ranging from R38 878 – R169 264.

How to apply for First Home Finance (FLISP) in 2024

You can apply online with ooba Home Loans in a matter of minutes.

We provide the form for you to fill in, and submit it on your behalf. We monitor the application process and update you as needed.

The application process:

  • 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.

First, ensure that you meet the qualification criteria:

  • Your gross household income is between R3,501 and R22,000 per month, ie. Basic household income, plus housing allowance where applicable.
  • You are a South African citizen or have a permanent residency permit.
  • You are over 18 years and competent to contract.
  • You are married or cohabiting OR single with financial dependents.
  • You haven’t received a government housing subsidy before.
  • You haven’t owned fixed residential property before.

How long does an application take?

  • Prequalification with ooba Home Loans takes 3 days.
  • The full application process takes 21 days.

Proof of income is not required

Applicants will be assessed based on fixed basic income and housing allowance.

The subsidy can be used to

  • Buy an existing house / apartment.
  • Buy a serviced residential site.
  • Build a house on a serviced residential site, if the site was not acquired through a government housing subsidy in the past.

Banks are aware of the First Home Finance subsidy and will be more likely to grant home loans to applicants who have been granted the subsidy, as they know there are funds available for repayments or a deposit.

Are you interested in applying for First Home Finance (formerly known as FLISP)? Get all your questions answered, such as whether you qualify, how to apply and how First Home Finance can be used to acquire your first home.

Apply for a housing subsidy

FLISP offering homebuyers a subsidy on their first home.

Do I qualify?

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