The South -African government strives to promote the burden of repayment of housing loans or housing costs, to receive the minimum wage or to earn average. There are people who do not participate in the RDP housing program and are difficult to have a reasonable house. The South African government supports these people and their families through the Funding-Linked Individual Grants Program (FLIPS). FLISP is helping thousands of South Africans access the homes and mortgages many have dreamed of.
The Financially Linked Individual Grant Program (FLIPS) is a housing grant approved by the South African Department of Land, Infrastructure and settlement founded in 2005. This program is designed to help South Africans from R3,501.00 to R22,000.00 per month salaries, over 18 years. FLISP grants range from R27,960.00 to R121,626.00, depending on the applicant's income.
Type of property one might use FLISP to buy.
When you buy a new home, you get a FLISP grant. The grant you get is for a down payment on your home and the grant depends on how much you earn. Real estate must be residential. That is, it must not be used for commercial purposes or any other business unrelated to real estate residence.
Can be used to purchase vacant land or property if that property has a registration or title deed.
Existing Residential property
FLIPS grants are available to those looking to buy a home. If you're buying through a finance broker you'll need to be approved for a home loan first, but it's important to understand that if you're buying with cash and want to top up your FLISP, you can apply straight away.
You are married, living with someone you are financially dependent on, or living alone. You must be 18 years of age or older at the time of application. You must not have had a permanent residence before the time of application. You must be a South African citizen or permanent resident of South Africa. You must not have previously received public housing assistance.
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