FLISP (Finance Linked Individual Subsidy Programme) is a government housing subsidy program in South Africa that provides financial assistance to first-time home buyers after filling the FLISP Housing application form.
The subsidy is paid directly to the lender, which reduces the amount of the home loan and lowers the monthly repayments.
FLISP provides a subsidy of up to 10% of the purchase price of a qualifying property. The amount of the subsidy is determined by the applicant’s household income and the size of the property being purchased. For example, a single applicant with a household income of R3,500 per month could qualify for a subsidy of up to R35,000.
Requirements for FLISP application
To qualify for the FLISP subsidy, you must meet the following criteria:
1. Be a first-time home buyer.
2. Have a household income of between R3,500 and R22,000 per month.
3. Be a South African citizen or permanent resident.
4. Have a household income of between R3,501 and R22,000 per month.
5. Have a valid home loan approval from a registered financial institution.
6. Be able to afford the monthly mortgage payments.
7. Have a credit score of at least 600.
How much does FLISP pay me
The amount of the FLISP subsidy you qualify for depends on your household income and the cost of the property you are buying. The maximum subsidy is R130,505.
Do I pay FLISP subsidy back?
FLISP subsidy does not have to be repaid by the applicant. The subsidy is a valuable government program that can help you achieve your dream of homeownership. If you are eligible, I encourage you to apply.
Where can I get FLISP application form
To apply for the FLISP subsidy, you must contact the Department of Human Settlements in your province. You can find contact details on the Department’s website.
Here are some additional resources that you may find helpful:
- FLISP website: https://flisp.co.za/
- Department of Human Settlements website: https://www.dhs.gov.za/
- FLISP subsidy calculator: https://flisp.co.za/index.php?option=com_content&view=article&id=1&Itemid=309
In addition to the financial benefits, FLISP also offers a number of other advantages, including:
- The program is administered by the NHFC, which is a reputable and well-respected institution.
- The program is open to all South African citizens and permanent residents, regardless of their race, gender, or religion.
- The program is designed to be simple and easy to apply for.
Here are some additional details about FLISP:
- The subsidy is paid directly to the mortgage lender, so it does not have to be repaid by the applicant.
- The subsidy can be used to purchase any property that meets the NHFC’s lending criteria, including newly built homes, existing homes, and serviced residential sites.
- The subsidy is not taxable.
If you are interested in applying for FLISP, you can find more information on the NHFC website. You can also contact a registered mortgage lender for assistance with the application process. You can also check Nasi Ispani vacancies.
FLISP is a great way to make homeownership more affordable for first-time home buyers in South Africa. If you are eligible for the program, I encourage you to apply.
