Through the NHFC, you may apply for a #FLISP housing subsidy to reduce your first home loan amount, if you earn between R3501 and R22000 per month. Apply Now

Get Help Owning Your First Home.

Buying your first home is an exciting step, but figuring out where to start can feel overwhelming. Luckily, First Home Finance (formerly known as FLISP) offers a government subsidy designed to help low-income, first-time homebuyers get on the property ladder.

Hereβs everything you need to know about this subsidy and how it can make your dream of homeownership a reality!
What is First Home Finance?
First Home Finance is a government initiative that provides financial support to first-time homebuyers with a low income. The subsidy can be used to buy or build a home, giving you access to the security and wealth that come with owning property.
How to Apply with ooba Home Loans
Applying for First Home Finance is simple and quick with the help of ooba Home Loans. Hereβs how it works:
- Fill out a short form: This can be done in just a few minutes.
- Consultation: An ooba Home Loans consultant will contact you to check if you meet the requirements for the subsidy.
- Prequalification: The consultant will complete and submit your prequalification form.
- Outcome: Youβll receive feedback on your application.
How Long Does the Process Take?
- The full application process typically takes 21 days.
- However, ooba Home Loans can prequalify you in just 3 days to get things moving faster.
Do You Qualify for First Home Finance?
To qualify for the subsidy, you must meet the following criteria:
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Your household income is between R3 501 and R22 000 per month. (This includes basic income and any housing allowance.)
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You are a South African citizen or have a permanent residency permit.
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You are over 18 years old and legally able to sign a contract.
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You are either married/cohabiting or single with financial dependents.
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Youβve never received a government housing subsidy before.
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Youβve never owned a fixed residential property before.
How Can You Finance the Subsidy?
You can fund the remaining cost of your home with:
- A mortgage loan
- A no-interest loan
- A pension-backed loan
- Rent-to-buy or deferred ownership
- Cash
Good news! As of 2023, applicants are now assessed based only on their fixed basic income and housing allowance, making the process easier.
How Much is the Subsidy?
The subsidy amount ranges from R38 878 to R169 264, depending on your income. Lower-income applicants qualify for higher subsidies.
You can use the subsidy to:
π Buy an existing home or apartment
π Purchase a serviced plot of land
π Build a house on serviced land (as long as the land wasnβt acquired using a previous housing subsidy).
Why Use First Home Finance?
The subsidy not only helps you buy a home but also boosts your chances of loan approval. Banks are more likely to approve your loan when they see that you have financial support. You can also use the subsidy as a deposit, which lowers your interest rates and reduces your monthly repayments.
Ready to Apply?
If youβre interested in applying for First Home Finance, reach out today! Our consultants will answer your questions, guide you through the process, and help you take the first step toward owning your dream home.