What is First Home Finance?

The Department of Human Settlements developed the First Home Finance to provide sustainable and affordable opportunities, in the form of housing subsidies, so people can own their first home .

  • South African citizens and legal permanent residents earning between R3,501 and R22,000 a month can apply for housing subsidies.

  • The once-off subsidy amount ranges from R38 911 to R169 265, depending on your monthly income.

  • The subsidy reduces the initial loan amount, making the monthly payments more affordable.


How can the First Home Finance help?

A First Home Finance subsidised loan enables you to:

  • 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.

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.

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To qualify for a First Home Finance subsidy, you must:

Be a South African resident over the age of 18.

Have a single or joint monthly income of between R3,501 and R22,000.

Not have claimed from any other housing subsidy scheme before.

Be a first-time homebuyer whose home loan has been approved by a financial institution.

Documents you'll need to apply

  • Valid South African identity card or document or valid passport.

  • Latest three months' payslips or other proof of income.

  • Lastest three months' bank statements.

  • Signed copy of the offer to purchase or sale agreement.

Why choose a Nedbank home loan

competitive offers

Competitive offers

We'll finance up to 100% of the property value.

attorney fees

Get 50% off your attorney fees

We offer a special discount to clients who take up their home loan with us: pay only 50% of your bond registration fee.

Learn more
cash back

Get R5,000 cash back – guaranteed

Join Nedbank and get R5,000 cash back

See offer
preferential rate

Preferential interest rates

Enjoy a preferential interest rate on your home loan if you bank with us, or switch your main bank account to Nedbank to enjoy the special rate.

See offer

Ready to apply for your home loan?

Start your application