Buying a first home is NOT easy but with the FLISP [Finance Linked Individual Subsidy Programme] Government subsidy, those who earn between R3 501 and R22 000 could make their dream of owning a home a reality. The FLISP subsidy is a once-off amount that must be used to reduce the principal Loan amount to render the Loan repayment instalments affordable or to make good any shortfall between the qualifying Loan amount and the purchase price of the Unit
 
Who qualifies for FLISP?

  • You must be a First time property buyer / owner i.e. you must not have owned property before
  • If your monthly income is between R3 501 and R22 000
  • If you are married, your joint income must be less than R22 000 per month
  • Those who have dependents, you must submit the birth certificates of your dependants
  • The highest subsidy is R121 626
  • The lowest subsidy amount is R27 960
  • The lower you earn, the higher the subsidy you qualify for
  • SA Citizens or those with permanent residence permits
  • Those who have never benefitted from a Government Housing Subsidy Scheme before;

To apply:

  • You must already have been approved by a bank for the home loan. At ThuthukaSA Home Loans, we will help you to get the approval from one of the banks
  • Have signed an offer to purchase

You can use your subsidy to;

  • Buy a vacant stand, if you are planning to build on the stand and you already have approved house plans and a contract to build your home using an NHBRC approved builder
  • Buy an existing home

To find out the amount of FLISP you could qualify for, email ThuthukaSA Home Loans info@thuthuka-sa.co.za. Note that FLISP is NOT guaranteed, we can only help you to apply but we cannot guarantee you that you would get it. If you have already bought your home and you did NOT apply for FLISP, you cannot apply after the event