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FLISP: Everything first-time homebuyers need to know

If you're a low-income earner, homeownership is still possible thanks to FLISP, a government subsidy aimed at first-time home buyers. See if you qualify.


Article summary

  • FLISP is a government subsidy aimed at low-income home buyers. If your income ranges from R3 501 to R22 000 per month, you may qualify for this subsidy.
  • The subsidy, which ranges from R30 001 to R130 000 depending on your income, can be used as a deposit or paid toward your home loan.
  • 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.

If you’re a first-time homebuyer, it’s worth finding out if you qualify for FLISP. This government subsidy makes home ownership a reality for people in a lower income bracket.

Bear in mind that ooba Home Loans can help you with the FLISP application process if you meet the qualification criteria. Here’s a rundown of what FLISP is, what you need to qualify, and how to apply.

FLISP: How do I qualify?

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

Other FLISP requirements:

  • 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.

FLISP: How much is the 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.


What can I do with the subsidy?

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.

Who provides the subsidy?

The National Housing Finance Corporation (NHFC) distributes funds to qualified applicants, according to the budget granted them by the government.

How do I apply for FLISP?

If you meet the criteria, you can apply through your financial institution or with the help of a home loan comparison service, such as ooba Home Loans.

Note You used to have to apply for a home loan and have it approved before you could apply for FLISP, but as of April 2022, this is no longer necessary. You can now use other sources of finance to apply, 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

How long does the application process take?

The process usually takes around 7 days.

Documents you need to apply for FLISP

  • The FLISP application form.
  • Certified copies of identity documents (IDs).
  • Certified copies of dependents’ birth certificates.
  • Certified copy of marriage certificate/ Final order of divorce.
  • Original recent payslip/affidavit confirming unemployment/ proof of social grant.
  • Certified copy of the deed of sale / offer to purchase.
  • Certified copy of the bond approval / bond quotation.
  • Original/ certified copy of the statement of transfer cost from transferring attorney.

The application process:

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

FLISP Process

If it all seems overwhelming, remember that ooba Home Loans can guide you through the process and handle the paperwork on your behalf. If you’re a low-income earner, it’s worth the effort to acquire a valuable asset and make the dream of homeownership a reality.

Apply for a housing subsidy

FLISP offering homebuyers a subsidy on their first home.

Do I qualify?

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