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FLISP housing: A subsidy to help you own your own home

FLISP is a housing subsidy that will help you obtain private ownership with government help. Find out what you need to know here.

FLISP Housing

Article summary

  • The FLISP housing subsidy helps you obtain private home ownership with govermment help.
  • The subsidy is aimed at people in a low-income bracket (R3 501 to R22 000 per month).
  • You can apply for the housing subsidy with the help of a home loan comparison service such as ooba Home Loans.

What do we mean by FLISP housing? It’s not government housing, it’s private housing with a government subsidy. The subsidy helps you own your very own home, even if you’re in a low income bracket. In fact, FLISP housing is aimed specifically at low-income earners.

What you need to know about FLISP housing

  1. How do I qualify for FLISP housing?
  2. How much is the FLISP housing subsidy?
  3. How do I apply for the FLISP housing subsidy?
  4. How does the FLISP housing subsidy help me acquire a home?

1. How do I qualify for FLISP housing?

First and foremost, your income must range from R3 501 to R22 000 per month.

Other criteria:

  • 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.

2. How much is the FLISP housing subsidy?

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

For more detail, see the chart below.

3. How do I apply for a FLISP housing subsidy?

You can apply with your financial institution or with the help of a home loan comparison service, such as ooba Home Loans.

The application process usually takes 7 days.

You used to require a home loan before applying, but now have a range of financing options when applying for the subsidy, including:

  • the beneficiary’s pension/provident fund loan
  • a co-operative or community-based savings scheme, i.e. stokvel
  • the Government Employees Housing Scheme
  • any other Employer-Assisted Housing Scheme
  • an unsecured loan
  • an Instalment Sale Agreement or Rent-to-own Agreement

If you choose to apply with the help of ooba Home Loans, the process will be as follows:

FLISP Process

Applying with ooba Home loans is useful because you can apply for a home loan and the government subsidy at the same time.

ooba can submit your home loan application to multiple banks, allowing you to compare deals and choose the one with the lowest interest rates. The subsidy will in turn help you secure lower interest rates.

How does the FLISP housing subsidy help me acquire a home?

You can:

  • Use the subsidy as a deposit.
  • Pay the subsidy toward your home loan, reducing your monthly repayments and home loan term. If you plan to pay the FLISP subsidy into your home loan, use our Extra Payments Calculator to determine the amount by which it will reduce your monthly repayments and home loan term.

So if you’re a low-income earner dreaming of home ownership, remember that the FLISP housing subsidy can make this dream a reality.

Are you interested in applying for FLISP? Get all your questions answered, such as whether you qualify, how to apply and how FLISP 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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