19 Jul 2019
Financial Linked Individual Subsidy Programme (FLISP) enables first time home-ownership for households classified within the ‘affordable or gap’ market, that is households who earn from R3 501 to R22 000 per month.
Households in this salary bracket generally earn an income that is too low to qualify for home loans and too high to qualify for ‘free’ government housing subsidies. This is where FLISP can make a difference.
The FLISP subsidy is only valid for the purchase of residential properties in areas where the transfer of ownership and registration of the bond are completely recordable at the Deeds Office.
The FLISP subsidy can only be used towards a deposit or reducing your total approved home loan amount and cannot be used for initiation fees or attorney costs.
Apart from being in the FLISP qualifying salary range, below is a list of other qualifying criteria that applicants need to meet when applying for a FLISP subsidy:
It is possible to calculate the approximate subsidy that you will be eligible for by using the FLISP subsidy amount calculator. Simply select your income bracket and complete the information required.
For FLISP subsidy consideration, applicants must produce a signed Letter of Acceptance indicating the approved home loan amount, from a South African accredited financial institution, such as SA Home Loans.
We are a specialist mortgage provider with experience in providing home loans that are suited to each individual applicant. We will give you our best possible rate and also help work out how to structure your mortgage to gain maximum
equity from your property.
SA Home Loans assess each application according to our own credit and affordability standards and the National Credit Regulator’s lending criteria, which forms a part of the FLISP application process.
After finding a home that warms your heart, contact our team to get your home loan application started by calling 0860 2 4 6 8 10, emailing Sales@sahomeloans.com or by visiting the contact page on our website.