How FLISP Government Subsidies Work
FLISP – Connecting South Africans with their future homes.
FLISP, or Finance Linked Individual Subsidy Programme is a tool that helps reduce the principal loan amount in order to reduce home payment instalments. In other words, it makes it affordable for you to buy a home.
FLISP assists first time home buyers to qualify for a mortgage by providing a once-off payment. This is specifically aimed at South African citizens that earn between R3 500 and R22 000. The problem is that a lot of these citizens earn either too much to qualify for government “free housing” or too little to qualify for a bank loan. This is where FLISP comes to the rescue to help you secure your home.
Buying a house in South Africa has never been easier. Thanks to Cosmopolitan Projects and the NHFC, never before has there been as many affordable houses built and houses in the process of being built to accommodate those who want to own a home. Over 30 000 houses have been built in Gauteng over the last 25 years with many more to come. Cosmopolitan Projects is doing its best to give you a place to call home.
To apply for FLISP an applicant must:
- Be a first-time buyer,
- Be a South African citizen,
- Never benefited from the housing department before,
- Have either a child under 18 or elderly person who is financially dependent on you.
Cosmopolitan Projects currently has 4 developments in Gauteng where buyers can qualify for FLISP prices. These developments include Sky City in JHB South, Savanna City in JHB West, Palm Springs in JHB South and Windmill Park in JHB East. More than 3 880 people in Gauteng alone have benefited from FLISP and you can be next in line.