What you get
South African citizens and legal permanent residents earning between R3,501 and R22,000 a month can apply for housing subsidies.
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The benefit ranges from anything between R38,911 and R169,265 depending on your monthly income.
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Money received from the subsidy can be used to reduce the initial home loan amount.
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The aim of the subsidy is to help make your monthly repayments even more affordable.
Save on your monthly repayments
Whether you are buying an existing, new or old residential property, the First Home Finance Subsidy can help you save on your monthly repayments. Use your benefit received to lower your home loan amount upfront.
How can the First Home Finance subsidy help?
With a First Home Finance subsidised loan, you can do the following:
- buy an existing, new or old residential property
- buy a vacant, serviced residential stand linked to a homebuilder contract that is registered with the National Home Builders Registration council.
Who can apply for a First Home Finance subsidy?
South African residents who are over the age of 18.
Must be first-time homebuyers whose home loan has been approved by a financial institution.
Must have a single or joint monthly income of between R3,501 and R22,000.
Applicants must not have claimed from any other housing subsidy scheme before.
How much could you qualify for?
Depending on your monthly income, the subsidy amount you could qualify for will range from R38,911 to R169,265. To find out more, or to apply, send an email to flisp@nedbank.co.za.
Your Nedbank benefit
To celebrate your new hoem purchase, we'll give you R5,000 cash back as well as 50% off your attorney bond registration fees.
