Now known as First Home Finance, FLISP has helped millions of lower-income South Africans achieve homeownership. The South African government offers first-time homebuyers with dependants or partners help to buy their homes with a subsidy.
A subsidy is financial support from the government you never have to pay back. You could receive up to R169 265 from First Home Finance depending on your salary. The subsidy can be used for:
- A deposit for your property / home.
- Covering transfer and bond registration costs.
- Reducing your loan amount.
To qualify for the subsidy, your combined household income must be below R22,000 per month but more than R3,500, you must have never owned a house before, and you must have a spouse or dependent. In addition, you must be at least 18 years old and a South African citizen or permanent resident.
How Does FLISP Work?
To apply for FLISP, you must submit documents that support:
- You earning between R3,500 and R22,000 per month
- That you have a dependant or spouse
- You’re older than 18 and a South African national
There other documents that you may need to submit–FirstStep Housing will help you with this. We’ll help you complete and submit your application on your behalf andoptimise your chance of approval for the government subsidy. We’ll also monitor your application and follow up for you to make sure you’re approved quickly and fuss-free.
Once you’re approved, FirstStep Housing will help you look for the best bondrates, if needed, and facilitate transferring the property onto your name. We’ll guide you through the process so you can sit back, relax, and only worry about what colour you’ll paint your house.
Get excited about your new house! Apply today and let FirstStep Housing do the hard work for you.
