What Salary Gets You the Maximum FLISP Grant?

03 Mar What Salary Gets You the Maximum FLISP Grant?

Posted at 08:45h in Latest News by

Does your near future involve securing your family’s wellbeing by claiming government subsidy funds for your first house? If this is your next step, FirstStep Housing is here to guide you through each stage of the FLISP application process. FLISP (also known as First Home Finance) makes homeownership achievable for those within South Africa’s GAP market.

To qualify for the FLISP grant, you must earn a gross combined household monthly income of between R3,500 and R22,000. If you are wondering what salary gets you the maximum FLISP grant, understand that the primary objective of this subsidy is to bridge the gap between what you can afford and what homeownership actually costs. Therefore, the less you earn, the larger the government contribution will be.

Lower Salary = Higher Subsidy Amount

The support provided by FLISP towards your first home purchase is based on your earnings. If your salary only just qualifies you for FLISP at its entry-level amount, you stand to receive the maximum subsidy amount of about R169,000. The lower your income, the more you require through FLISP to benefit from the subsidy.

If your combined gross household salary is on the lower end of the FLISP sliding scale, let us say beneath R8,000 per month, you should qualify for anything over R130,000 in government funds. These shortfall solutions bridge the gap to home ownership and can vastly improve the lives of you and your loved ones. The lowest amount FLISP will grant is about R39,000 to those with a combined monthly income of R22,000.

Receiving keys to your first home with FLISP

How FLISP Works for You

Once you have been approved, you can use FLISP to buy a house with cash, a loan, or a pension payout. You can finally pursue the things in life that truly matter – secure housing, stability for your family, and the peace of mind that comes with being a homeowner in South Africa. Our FirstStep Housing team are by your side through it all, empowering you on your journey and ensuring your application is handled professionally.

What We Need from You

Before we can assist you with your application, please be ready to share the following information and documentation with us:

  • If married, a certified copy of your marriage certificate
  • If divorced, a certified divorce decree and settlement agreement
  • Birth certificates for children under 18 years of age
  • Certified SA ID or permanent residency permit
  • Proof of income (certified monthly income)
  • The details and OTP of the property you intend to buy

Do You Qualify For FLISP?

In addition to earning between the qualifying income bracket of R3,500 and R22,000, you must be South African or a permanent resident over the age of 18. You must live with a spouse or dependents, and cannot apply if you have owned a property or previously benefited from a government housing subsidy.

The FLISP (Finance Linked Individual Subsidy Programme) qualifying criteria ensure that those who truly need the grant are considered. If you are ready to take the first steps to owning a home, we are here to help! APPLY NOW to begin the process.