The FLISP Housing Subsidy Programme is aimed to make home ownership a reality for first time home buyers
What is FLISP?
FLISP stands for Finance Linked Individual Subsidy Programme. The FLISP Housing Subsidy programme was developed by the Department of Human Settlement to enable first time home ownership opportunities to South African citizens who earn between R3 501 and R22 000 per month.
What is the objective of FLISP?
The objective of the subsidy is to reduce the initial mortgage loan amount to render the monthly loan repayment instalments affordable over the loan payment term.
Who is FLISP targeted at?
Households whose income range is R3 501 to R22 000 and are South African citizens.
What can first time home buyers do with FLISP?
Applicants can qualify for a FLISP subsidy amount of between R27 960 and R121 626, depending on the applicant's combined monthly household income.
Qualifying applicants can choose to purchase a house in a FLISP approved development.
FLISP assists qualifying beneficiaries who wish to obtain mortgage finance from a lender to:
Build a new home with the assistance of a developer registered with the National Home Builders Registration Council (NHBRC), on a serviced residential stand.
How do I qualify for a FLISP subsidy?
There are six simple questions that if you can answer yes to, will mean that you qualify for a subsidy.
1. Do you earn between R3 501 to R22 000.
2. Are you a South African citizen with a valid Identity Document, or be a permanently resident with a permanent residence permit?
3. It is true that you have NEVER qualified for a government housing subsidy before.
4. It is true, that you have not owned a fixed residential property before.
5. Are you competent to contract - over 18 years or legally married or legally divorced and of sound mind.
6. Are you married or cohabiting. OR are you single with financial dependents
How do I apply for FLISP?
First and foremost you must be in the market looking for a house and should be able to secure a home loan as it is a requirement to access the Finance Linked Individual Subsidy Programme (FLISP) subsidy.
To apply, please contact 087 7000 347 and speak to one of our consultants.
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Disclaimer: While every effort will be made to ensure that the information contained within the Your Housing Company website is accurate and up to date, Your Housing Company makes no warranty, representation or undertaking whether expressed or implied, nor do we assume any legal liability, whether direct or indirect, or responsibility for the accuracy, completeness, or usefulness of any information. Prospective purchasers and tenants should make their own enquiries to verify the information contained herein.
Please note: Most banks charge an administration and initiation fee. Disclaimer: These calculations are only a guide. Please ask your conveyancer for exact calculations.
