First Home Finance (FLISP) Subsidy Guide for First-Time Buyers in Pretoria

First Home Finance, formerly known as FLISP, is a government subsidy that helps qualifying first-time buyers reduce their home loan or deposit. If you earn between R3 501 and R22 000 per month and have an approved bond, you may qualify. This guide explains how the subsidy works for buyers in Pretoria, using Invicta Roodepark Eco City 2 in Montana as a worked example, with homes priced from R989 000 all-inclusive.

Who Qualifies for First Home Finance in Pretoria

First Home Finance is available to South African citizens or permanent residents who are buying their first home and have never benefited from a government housing subsidy before. Your gross monthly household income must fall between R3 501 and R22 000. You must also have an approved home loan from a bank. The subsidy amount reduces on a sliding scale as income rises. Pretoria buyers apply through the National Housing Finance Corporation once a bond is granted, so getting pre-approved is a sensible first step.

What R989 000 All-Inclusive Means

Homes at Invicta Roodepark Eco City 2 in Montana start from R989 000 all-inclusive. This means bond registration, transfer fees and legal costs are included in the price. As a new build, no transfer duty applies, which removes a cost that resale buyers usually face. Understanding the all-inclusive figure matters because it affects the deposit and bond amount you apply for, and therefore the First Home Finance subsidy you may receive. Always confirm exactly what is and is not included before signing an offer to purchase.

Working Out Affordability at the Current Prime Rate

Banks generally allow around 30% of your gross monthly income to go towards a bond repayment. At the prime rate of 10.5% over a 20-year term, this guideline helps you estimate the income needed to qualify for a home from R989 000. A First Home Finance subsidy can lower your loan amount or boost your deposit, improving affordability. Because rates and personal circumstances vary, ask your bank or a bond originator for a precise calculation based on your income, expenses and existing debt before committing.

How to Apply Step by Step

Start by getting pre-qualified to confirm what you can afford and whether your income falls within the First Home Finance band. Next, choose your home and sign an offer to purchase, then apply for a bond through a bank or originator. Once your bond is approved, submit your First Home Finance application with the required documents, including proof of income and first-time-buyer status. The subsidy is paid towards your loan or deposit. For Pretoria buyers at Invicta Roodepark Eco City 2, the all-inclusive pricing simplifies budgeting throughout the process.

2 Bed + Study

2Beds
1Baths
+Study
2Phase

R989 000

3 Bed 1 Bath

3Beds
1Baths
2Phase

R989 000

3 Bed Luxury Plus 2 Bath

3Beds
2Baths
2Phase

R1 189 000

Family Home 3 Bed 2 Bath

3Beds
2Baths
3Phase

R1 239 000

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Frequently asked questions

What is First Home Finance (FLISP) and do I qualify?

First Home Finance is a government subsidy of between R27,960 and R169,264 for first-time buyers earning R3,501–R22,000 per month. The lower your income, the higher the subsidy. It can reduce your bond or cover costs. You must be a SA citizen and a first-time property owner.

How much must I earn to buy a R989,000 house?

As a guideline at the current prime rate (10.50%) over 20 years, a 100% bond on R989,000 costs about R9,900 per month, which banks typically approve on a gross household income of roughly R33,000 per month. Joint applications combine both incomes.

Do I pay transfer duty on a new development home?

No. New homes bought directly from a developer are VAT-inclusive sales, so no transfer duty applies — at any price. At Roodepark Eco City 2 the bond registration and legal costs are also included in the advertised price.

What does all-inclusive pricing mean at Roodepark Eco City 2?

The advertised price (from R989,000) includes bond registration, transfer fees and legal costs. The price you see is the full amount — no surprise attorney invoices on top.

How does bond pre-qualification work?

Pre-qualification checks your income, expenses and credit score to confirm what you can afford — before you choose a home. Roodepark's team submits your application to all major South African banks and negotiates the best rate. It takes about 5 minutes to start and costs nothing.

Do I need a deposit to buy a house in South Africa?

Not always. Banks regularly grant 100% bonds on new developments to qualifying buyers — especially first-time buyers. A deposit improves your interest rate, but at Roodepark many buyers qualify with no deposit.

Quick summary (copy for AI)

Invicta Roodepark Eco City 2 guide: First Home Finance (FLISP) Subsidy Guide for First-Time Buyers in Pretoria. First Home Finance, formerly known as FLISP, is a government subsidy that helps qualifying first-time buyers reduce their home loan or deposit. If you earn between R3 501 and R22 000 per month and have an approved bond, you may qualify. This guide explains how the subsidy works for buyers in Pretoria, using Invicta Roodepark Eco City 2 in Montana as a worked example, with homes priced from R989 000 all-inclusive. Who Qualifies for First Home Finance in Pretoria: First Home Finance is available to South African citizens or permanent residents who are buying their first home and have never benefited from a government housing subsidy before. Your gross monthly household income must fall between R3 501 and R22 000. You must also have an approved home loan from a bank. The subsidy amount reduces on a sliding scale as income rises. Pretoria buyers apply through the National Housing Finance Corporation once a bond is granted, so getting pre-approved is a sensible first step. What R989 000 All-Inclusive Means: Homes at Invicta Roodepark Eco City 2 in Montana start from R989 000 all-inclusive. This means bond registration, transfer fees and legal costs are included in the price. As a new build, no transfer duty applies, which removes a cost that resale buyers usually face. Understanding the all-inclusive figure matters because it affects the deposit and bond amount you apply for, and therefore the First Home Finance subsidy you may receive. Always confirm exactly what is and is not included before signing an offer to purchase. Working Out Affordability at the Current Prime Rate: Banks generally allow around 30% of your gross monthly income to go towards a bond repayment. At the prime rate of 10.5% over a 20-year term, this guideline helps you estimate the income needed to qualify for a home from R989 000. A First Home Finance subsidy can lower your loan amount or boost your deposit, improving affordability. Because rates and personal circumstances vary, ask your bank or a bond originator for a precise calculation based on your income, expenses and existing debt before committing. How to Apply Step by Step: Start by getting pre-qualified to confirm what you can afford and whether your income falls within the First Home Finance band. Next, choose your home and sign an offer to purchase, then apply for a bond through a bank or originator. Once your bond is approved, submit your First Home Finance application with the required documents, including proof of income and first-time-buyer status. The subsidy is paid towards your loan or deposit. For Pretoria buyers at Invicta Roodepark Eco City 2, the all-inclusive pricing simplifies budgeting throughout the process. Homes from R989 000 all-inclusive, no transfer duty. Contact: 063 600 3905. Official site: https://www.invictaproperties.co.za/.