The FLISP housing subsidy is a grant provided by the government to make homeownership more affordable. Recently renamed First Home Finance (FHF), this subsidy empowers South Africans to own their own homes. If you are considering applying for FLISP, let FirstStep Housing guide you through the process, saving you time and effort and answering any questions you may have.
If you meet the FLISP qualifying criteria, you can apply for this once-off grant to purchase a residential property in your name. Our government subsidy housing guide for first-timers offers useful insight on this subject. You can also use this money to build a new house with the assistance of an NHBRC-registered home builder. This can be done on a serviced residential plot you already own and hold the Title Deed for.
The FLISP qualifying criteria are in place to make sure the subsidy reaches the people it was meant for. It’s designed to assist first-time homebuyers who don’t qualify for RDP housing but also can’t access a home loan on their own due to financial constraints. This group is known as the “gap market,” and FLISP was introduced specifically to bridge that gap, making homeownership more accessible to low and middle-income South Africans.
We often get asked if a home loan needs to be secured before applying for the FLISP subsidy. As of April 2022, this was removed from the FLISP qualifying criteria, and so, it is no longer necessary. When you apply, you do need to have an offer to purchase or sales agreement in place for the property you want to buy – this is something our FirstStep Housing team can assist with.
Some of the financing options available to home buyers include a traditional home loan from a major South African bank, a pension or provident fund loan, funding through a registered co-operative or community-based savings scheme, instalment sale or rent-to-own agreements, and assistance through the Government Employees Housing Scheme (GEHS).
It’s always best to be well-prepared, as the application process requires you to submit specific documents and information. When we help you with your FLISP Application, we require the following:
If you’re new to grants for housing and First Home Finance, here is all you need to know about FLISP housing and how to get your subsidy. APPLY NOW and let us help you get a housing subsidy.