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The FLISP requirements in 2024: What you need to know

First Home Finance is a subsidy for first-time homebuyers with low income. You must have an income ranging from R3 501 to R22 000, amongst other requirements.

Flisp Requirements

Article summary

  • First Home Finance (formerly known as FLISP) is aimed at first-time homebuyers with an income ranging from R3 501 to R22 000 per month.
  • Other requirements include being a South African citizen; being married or cohabiting or single with financial dependents; and never having owned a fixed residential property before.
  • You can apply for the subsidy online in a matter of minutes with ooba Home Loans.

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

It’s available throughout South Africa and can make homeownership a reality for those who previously assumed their income was too low to purchase a home. The government seeks to promote homeownership to give South Africans a greater sense of security and to encourage investment in the economy.

Here are the First Home Finance (FLISP) requirements:

  • 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 must be over 18 years and competent to contract.
  • You must be married or cohabiting OR single with financial dependents.
  • You must not have received a government housing subsidy before.
  • You must not have owned fixed residential property before.

How do I apply for the subsidy?

You can apply online with ooba Home Loans. We provide the form for you to fill in and submit it on your behalf. We then monitor the application status and update you as needed.

How do I finance the subsidy?

You have the following options:

  • Mortgage loan.
  • No fee or no interest loan.
  • Pension-backed loan.
  • Rent to Buy / Deferred ownership.
  • Cash.

Do you need proof of income?

Thankfully, variable proof of income is no longer required. Applicants will now be assessed based on fixed basic income and housing allowance.

How much is the subsidy?

The subsidy ranges from R38 878 – R169 264. The lower your income, the higher the subsidy.

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.

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