FLISP Subsidy Housing
FLISP stands for Finance Linked Individual Subsidy Programme and used to be known as FSH. It’s a one-time grant from the South African government you can use to apply to buy a house or land to build a house.
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Are you looking for FLISP subsidy housing? For years, our consultants, attorneys and housing experts have helped South Africans apply for FLISP to finance their first homes. FLISP is part of a government subsidy initiative to assist lower-income people afford homes they wouldn’t be able to afford without the help of a government subsidy. This way, everyone can achieve their goal of homeownership – a house that’s yours and only yours; a house that you could make into your home.
Am I Eligible for FLISP Housing?
The government lists various requirements to be eligible for the FLISP subsidy, including:
A Monthly Household Income of R3 501 up to R22 000
An income lower than this means you won’t qualify and should apply for basic government housing. If you earn an income above R22,000, you could probably afford a bond without government help, and so are not eligible for FLISP.
Be a South African Citizen or Permanent Residence with an ID or Permit
The FLISP subsidy is only available for South African citizens or permanent residents. This is to prioritise South Africans and alleviate homelessness among our nationals.
Be Allowed to Contract
If you’re under 18 years old, you’re not allowed to contract (it’s the law). You also can’t sign a FLISP housing contract if you’ve been declared incompetent to contract. This is to protect banks and sellers from a default.
Have Never Previously Benefitted from a Government Housing Scheme
You don’t qualify for FLISP if you’ve received a government housing subsidy in the past. This way, people who have never owned a home are prioritised. You also may not have owned a home in the past. Additionally, your partner must not have benefited from FLISP.
Live with a Partner or Dependent
You qualify for FLISP if have dependents or a partner.
What Can I Do with a FLISP Subsidy?
You can use FLISP in combination with savings, your bond, part of your pension (the two-pot system), savings, a stokvel or cooperative housing scheme, and loans supported by Employer-Based Housing Schemes (such as the Government Employees Housing Scheme for government employees).
You can also use FLISP to purchase land or finance building a home.
How Do I Get a FLISP Housing Bond?
You can compare home loans with the FirstStep Housing bond origination service. We’ll help you compare home loans and get pre-approved for a bond or personal loan. We’ll also help you submit the necessary documents to the government for FLISP approval.
FirstStep Housing has a team of experts who have years of experience and expertise in helping people with pensions and difficulty obtaining bonds apply for the FLISP subsidy. We’ll follow up on your application on your behalf, assist with the deed transfer process, and help you get the most affordable bond.
If you would like help attaining FLISP housing, apply with FirstStep Housing. We would love to help you take your first steps to homeownership.