The NHFC was established to ensure that every low- and middle-income South African has easy access to affordable housing finance - these are individuals or households with monthly incomes between R1 500 and R15 000. This market sector is mostly able to contribute towards its housing costs, but finds it hard to access bank-funded housing finance.

Credit criteria vary according to the requirements of Finance-Linked Individual Subsidy Program (FLISP), Social Housing Institutions (SHIs), Retail Finance Intermediaries, but the following are the minimum conditions for every applicant:

  • South African citizenship or Permanent Resident
  • Older than 18 years
  • Household and/or Individual earning from R1 500 to R15 000 per month
  • Able to prove 2years continuous employment
  • Can demonstrate ability to service the loan

Some SHIs and Lenders may take additional circumstances into account when evaluating a borrower's application, such as the credit record and other financial obligations. Each lender will inform the borrower of additional requirements or documents to be submitted.

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