How much Flisp do I qualify for?
Depending on your monthly income, the FLISP subsidy amount you qualify for may range from R27 960 up to R121 626 – see the FLISP Subsidy Quantum Table for more information.
When can I apply for Flisp?
In order to apply for a FLISP subsidy, you must meet the following requirements: Earn either a single or joint gross monthly household income of between R3 501 to R22 000. Be a first time home buyer. Be over the age of 18 years.
What can Flisp be used for?
How can the Flisp subsidy be used? It can be used to pay a home loan deposit or to decrease the size of a home loan. De Waal says in the Western Cape, the subsidy can also be used to cover the transfer or bond registration costs. If the Flisp subsidy is used as a deposit, a smaller home loan can be applied for.
How do I contact Flisp?
If you want to apply for a FLISP Subsidy in Lufhereng, Soweto, please contact 087 7000 345 and speak to one of our consultants. Or complete our contact form and a consultant will call you back.
What documents are needed to apply for Flisp?
Once you’ve received a home loan from a bank, the following documents are required, together with the completed FLISP application:
- Certified copies of identity documents (IDs)
- Certified copies of dependents’ birth certificates.
- Certified copy of marriage certificate/ Final order of divorce.
What credit score do you need to buy a house in 2021 South Africa?
The minimum credit score for a home loan in South Africa is around 640. A score of 600+ will give you a fair chance of home loan approval – although this may vary according to which bank you use. A score of 670+ is considered an excellent credit score, significantly boosting your chances of home loan approval.
How much do I qualify for flips?
What subsidy amount do I qualify for? This depends on your household income; it will be between R27 960 and R121 626. The less you earn, the more subsidy you qualify for. The subsidy for those earning R15 000 a month has increased to R62 304 (it used to be R20,000), up to R121 626 if you earn R3 501 a month.
How long does it take for subsidy to be approved?
Now the most important question arises – When does a customer receive the subsidy amount in his or her Home Loan Account? Well, the answer to it cannot be so simple. The government verifies all the details provided by you and only after the verification is done, the subsidy is released. Generally, it takes 3-4 months.
How can I buy a house with no money in South Africa?
There are three common ways to buy a house without paying a full deposit personally.
- Buy with your partner/spouse to divide the deposit amount between you.
- Buy an undervalued property.
- Take out another loan to cover the deposit amount.
Can a blacklisted person buy a house?
Your application for a home loan will most likely be rejected if your name has been blacklisted with the credit bureau. Each bank has its own method of scoring your risk profile, but in general, the higher your score, the less of a risk you’ll be, so the better your chances of getting a bond will be.
How do I get a government housing subsidy?
How to apply
- Visit 27 Wale Street, Cape Town.
- Call the Help Desk on 021 483 6488 / 0611 / 8984 / 0623 / 2060 (Monday to Friday from 07:30 – 15:00)
- Email [email protected]; or.
How much is the flisp subsidy in South Africa?
Imagine the peace of mind knowing you are a home owner, and the future of your family is secured. Get your FLISP subsidy of up to R121,000. Buy yourself a brand new home and secure your future. Put your old problems behind you, and start living your dream life today.
What is flisp housing subsidy?
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 R 27 960 and R 121 626 per month.
What is the Finance linked individual subsidy programme (flips)?
The South African government is empowering these individuals and their families through the Finance Linked Individual Subsidy Programme (FLIPS). FLISP is helping thousands of South Africans to get access to houses and home loans that could only have been a dream for many. What is the Financial Linked Individual Subsidy Programme (FLISP)?
Can I apply for a second flisp subsidy?
FLISP is a one-time payment subsidy. You cannot apply for a second FLISP subsidy when you want to purchase a second home. We used the FLISP website’s subsidy calculator to work out how much you can expect to receive from your FLISP application.