If you want to buy your own home for the first time and your household income is between R3 501 to R15 000 per month, you might be eligible for FLISP. This programme provides a once-off down payment to households who have secured a home loan to buy residential property for the first time.

The aim of FLISP to reduce the initial home loan amount to make the monthly loan repayment affordable over the long term. FLISP can be used to purchase an existing house or to buy a vacant serviced residential stand which is linked to house building contracts.

Depending on your income, you could qualify for a subsidy of between R20 000 to R87 000. However, this amount will be subject to change. You can only qualify for FLISP if your home loan application has been approved by a bank.