R R R Admin fee for 5 Years paid a) R0 - R3,499 - 12% 37,500 25,000 13% 12% 12% annually in advance paid to the R R R mortgage bank originating Capital qualifying loans. Qualifying loans b) R3,500 - R6,999 75,525 47% 37,500 25,000 38% 36% 33% receive a 1% reduction in payment to R R R Low Med Low normal interest rate on their c) R7,000 - R9,999 53,588 54% 37,500 25,000 52% 48% 45% Mortgage home loan. Increased incentive R Bank - Admin is a 1.5% reduction for R7, 500 d) R10,000 - R14,999 26,588 54% Subsidy Admin fee for 5 Years. e) R15,000 - R19,999 f) R20,000 - + R R Rental voucher disbursed on a a) R0 - R3,499 180,000 120,000 29% 23% 12% card that is redeemable with accredited rental stock R R providers for up to 20 years. The b) R3,500 - R6,999 90,000 60,000 39% 36% 31% value of the monthly rental High Med Med Rental c) R7,000 - R9,999 voucher is R500 & R250 for the Voucher income brackets R0-R3, 5000 & d) R10,000 - R14,999 R3, 501, R7, 000 respectively. e) R15,000 - R19,999 f) R20,000 - +
Capital payment to Mortgage Bank - Admin Subsidy a) R0 - R3,499 R - 12% R 37,500 R 25,000 13% 12% 12% Admin fee for 5 Years paid annually in advance paid to the mortgage bank originating qualifying loans. Qualifying loans receive a 1% reduction in normal interest rate on their home loan. Increased incentive is a 1.5% reduction for R7, 500 Admin fee for 5 Years. b) R3,500 - R6,999 R 75,525 47% R 37,500 R 25,000 38% 36% 33% c) R7,000 - R9,999 R 53,588 54% R 37,500 R 25,000 52% 48% 45% Low Med Low d) R10,000 - R14,999 R 26,588 54% e) R15,000 - R19,999 f) R20,000 - + Rental Voucher a) R0 - R3,499 R 180,000 R 120,000 29% 23% 12% Rental voucher disbursed on a card that is redeemable with accredited rental stock providers for up to 20 years. The value of the monthly rental voucher is R500 & R250 for the income brackets R0-R3, 5000 & R3, 501, R7, 000 respectively. b) R3,500 - R6,999 R 90,000 R 60,000 39% 36% 31% c) R7,000 - R9,999 High Med Med d) R10,000 - R14,999 e) R15,000 - R19,999 f) R20,000 - +
FPU_Housing-finance-options-analysis_19-november-2012-2.docx