The short answer
You can apply for a FLISP grant as part of the government's “Help-Me-Buy-a-Home” scheme
The whole question
I earn R9,000 a month. This means that I don't qualify for an RDP house, but I also can't get a home loan from the bank. I want my own house. What can I do?
The long answer
The objective of the Finance Linked Individual Subsidy Programme (FLISP) is to help qualifying beneficiaries in the gap market to access adequate affordable housing. The FLISP subsidy can be used either with home loans or with the applicant’s own resources.
To qualify for FLISP, the total household income must be between R3,501 and R22,000 per month.
The FLISP subsidy range is R30,001 to R130,505 as of 1 April 2022. The subsidy amount is inversely related to the household income. In other words, the lower your total household monthly income, the greater your FLISP subsidy will be.
FLISP may be used for the following purposes:
The Department of Human Settlements (DHS) approved the Revised FLISP Policy in February 2022, which for the first time allows FLISP to be implemented with other housing finance products, in addition to mortgage finance.
From the 2022/23 financial year, FLISP will, in addition to mortgage finance, be implemented with the following non-mortgage housing finance products:
For the first time since the inception of FLISP, households in rural areas will now be able to access FLISP when they build their homes using, for example, unsecured incremental housing loans or pension-backed loans.
Normally, a FLISP applicant should apply for a housing loan from a lender before applying for FLISP. However, in some circumstances, applicants may choose to be pre-approved for FLISP before they apply for a home loan.
When applying for FLISP and depending on a household situation, a certified copy of each of the following documents is required (where applicable):
You can apply for FLISP online: https://www.nhfc.co.za/finance-solutions/finance-linked-individual-subsidy-finance-flisp/.
For applicants who may have further questions on FLISP, please send an email to: Flispenquiries@nhfc.co.za or contact our Call Centre Consultant on Tel No. 010 085 2199.
Wishing you the best,
Answered on Aug. 15, 2022, 12:58 p.m.
Please note. We are not lawyers or financial advisors. We do our best to make the answers accurate, but we cannot accept any legal liability if there are errors.