Question NW442 to the Minister of Human Settlements

Reply:

1 Yes, there is a household income threshold for the First Home Finance (FHF) subsidy. The subsidy is available to first-time home buyers with a total monthly household income between R3,501 and R22,000. The subsidy amount is not fixed but is granted on a sliding scale based on the applicant's income. The maximum subsidy amount is R169,625, while the minimum is R38,911. The lower the household's income, the higher the subsidy amount they will receive.

The FHF subsidy is a valuable resource for first-time home buyers in South Africa, helping to make homeownership more affordable. The sliding scale ensures that the subsidy is targeted towards those who need it most.

2. People can apply for the FHF subsidy anywhere in the country through various channels, making it accessible nationwide. The application methods include:

• Online: The most convenient way to apply is through the Online Application Portal, which can be accessed at https://www.nhfc.co.za/finance-solutions/first-home-finance or www.firsthomefinance.co.za.
• Call Center: For those without internet access, the First Home Finance Call Centre at 010 085 2199 can provide assistance with online applications.
• Origination Partners: The subsidy application process can also be facilitated by various origination partners, including major banks, some non-bank lenders, developers, contractors, building material suppliers, and employers. These partners will apply for the subsidy online on behalf of their clients.

The multiple application channels and the involvement of origination partners ensure that the FHF subsidy is readily available to eligible individuals across South Africa, further promoting homeownership opportunities.