Mortgage: You should have taken out mortgage (also known as a home loan) so you’re able to be eligible for FLISP
The Money Linked Individual Subsidy Program (FLISP) try changed within the 2012 and later updated when you look at the 2018. It program is a-south African regulators step to own homes inside this new ‘gap’ industry-people who are also steeped so you’re able to qualify for brand new RDP subsidy however, too poor so you can easily manage a different domestic. FLISP is meant to assist these property to access houses, by providing a subsidy used to pay this new deposit into a property or even reduce the sized the latest mortgage.
At this point, CAHF enjoys penned around three blogs towards the FLISP: curious whether or not FLISP would be effective, trying recognize how it could works and you may remembering its extension into the resale industry. Such content, additionally the a few data into the the website (the FLISP policy of 2012, and subsidy worthy of tables away from 2018), obtained an incredible effect-a huge selection of somebody requested inquiries from feedback section of our webpages, and you can dozens entitled and you can emailed. That it reaction implies that there is a very clear need for so much more details about FLISP. This blog contains the newest information i have, and certainly will hopefully supply the responses many are searching for:
Carry out I Meet the requirements?
Income: Family have to earn more than just R3 five-hundred but below R22 000 thirty days. This is your household’s income (your wife or husband’s money, or people relative you make an application for a mortgage that have). It describes the disgusting income–the amount you will get before taking out taxes otherwise write-offs.
FLISP: Answering The questions you have
Dependents: You need to be living with someone (sometimes married or habitually cohabiting) or living with economic dependents.More