Affordable housing options

Millions of South Africans, particularly in the lower income earning segment, dream of owning their own home. Now these dreams are becoming a reality, thanks to a number of affordable housing options.

Affordable Housing Home Finance

We offer home loans to individuals earning a single or joint gross monthly income of between R3 501 – R32 000.

Benefits include:

Up to 108% finance and no deposit required
Up to a maximum of R2.2 million
Choose between a fixed or variable interest rate
An AccessBond facility should you require additional funds
A free home ownership training course

First Home Finance (Previously known as FLISP)

If you qualify, the Government may grant you a housing subsidy through First Home Finance. This subsidy is a once-off lump sum payment towards the cost of your home, which can be used to reduce the initial home loan, a deposit or to assist with Attorney costs (bond registration and/or transfer fees).

In order to qualify, you must:

Earn a joint income of between R3 501 – R22 000 per month and be a first-time home buyer.
The once-off subsidy amount ranges between R38 911 – R169 265, depending on your monthly income. The maximum price of a property that can be financed through First Home Finance depends on your affordability.
Once your bond amount is approved, you will have to approach the National Housing Finance Corporation to apply for the subsidy, or the nearest Local Municipality.

National Housing Finance Corporation contact details

Tel: 010 085 2199
Email: [email protected]
Website: https://www.nhfc.co.za/finance-solutions/first-home-finance/

Pension-Backed Lending

Our Pension-Backed Home Loan is an affordable home loan, guaranteed by your pension fund.