Contact CA Loan Officer Jason Whigham to know more about our assistance programs! Over the past 27 years, GSFA has helped more than 80,600 individuals and families purchase homes and provided financing for 32,300 residential or commercial energy efficiency projects. Golden State Finance Authority provides the GSFA OpenDoors down payment assistance (DPA) program to help California homebuyers purchase a home with little-to-no money out of pocket. Peace Officers, Sheriff, Border Patrol Agents, Correctional Officers and others serving in a Law Enforcement capacity; Firefighters, CalFire, paramedic, and Emergency Medical Technicians (EMTs), including administrative staff that supports firefighters; and. Brentwood Down Payment Assistance Program. Features & Eligibility. Commitment to Responsible Homeownership Supporting Affordable Homeownership for Over Two Decades: Public entity and agency in California organized in 1993 Mission to provide a source of financing for California … Golden State Finance Authority (GSFA) Platinum Down Payment Assistance Program - FHA: Loan Type: FHA: Max Assistance: FHA: 3% or 4% or 5% of Note amount. Find CA Down Payment Assistance Programs. For Platinum "Select" qualifying homebuyers, the assistance is provided as a gift, that never has to be repaid. The GSFA Platinum® Program is available for purchase or refinance of a primary residence anywhere in California and … (1) Program Highlights only. Current interest rates and APRs are available through a Participating Lender. GSFA’s Platinum Program provides applicants with down payment and/or closing cost assistance in the form of a non-repayable grant up to 5 percent of the total loan amount. Guideline Updates for GSFA Down Payment Assistance Programs. Since 2010, GSFA Platinum has helped 24,200 people to purchase homes, providing more than $216.4 million in down payment and/or closing cost assistance. Loan Officers in the GSFA Circle of Excellence have excelled in their respective regions, helping borrowers obtain financing and down payment assistance through the GSFA Platinum Program. 3. (1) Certain restrictions apply on all programs. Homebuyer doesn't have to be a first-time homebuyer to qualify. Programs are available for purchase or refinance of a primary residence anywhere in California and there is no first-time homebuyer requirement to qualify. Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Home buyer down payment assistance loan programs such as CalHFA’s CHDAP, GSFA Platinum Grant, and the GSFA ACCESS program are three of the most popular first time home buyer assistance programs in California.. The DPA Second Mortgage provided through the GSFA OpenDoors Program has a repayment requirement. There are no income limits for buyers and no minimal closing costs necessary. Stats updated 01/06/2020 The loan can be FHA, VA, or conventional. GSFA PLATINUM® DOWN PAYMENT ASSISTANCE GSFA PLATINUM® DOWN PAYMENT ASSISTANCE Sponsored by Golden State Finance Authority (GSFA), a duly constituted 05/08/2017 public entity and agency in California, established in 1993 Program Training for Mortgage Professionals To calculate the DPA in dollars, multiply the DPA percentage (1) by the First Mortgage Loan amount. How does GSFA work? GSFA provides down payment assistance, currently in the form of a grant that you do not have to repay, up to 5% of the first mortgage amount. Thank You. The program can also be used to refinance your home, if you are taking out a Freddie Mac conventional loan. Flexible income limits (low-to-moderate income). The GSFA Platinum Program helps low-to-moderate income homebuyers in California purchase a home by providing down payment and/or closing cost assistance (DPA). Program Highlights (1) Contact Us for more information or a referral to a GSFA OpenDoors Participating Lender. Copyright© 2006-2020  Golden State Finance Authority (GSFA). CalHFA My Home Assistance Program HOW ABOUT A FORGIVABLE 2nd - Duration: 1:03. The DPA Second Mortgage provided through the GSFA OpenDoors Program has a repayment requirement. Current members of the California State Teachers Retirement System (CalSTRS) or University of California Retirement Plan (UCRP), employees of a California accredited Private, Charter or Public School District or California State University, Junior College or Private College, including school administration and staff. GSFA Platinum Down Payment Assistance Program Advantages/Benefits Gift and First Mortgage Options Eligibility Guidelines MGIC • HFA Advantage Coverage • GSFA Paid MI. There is no interest, no payments, and no need to pay back the Down Payment Assistance (DPA) after 3 years. FHA Energy Efficient mortgage loans, USDA guaranteed home loans, along with a variety of public safety and education occupations, can qualify the homebuyer for DPA as a gift. Platinum Select has been suspended: All the above options are available for Select borrowers, with the assistance provided as a grant … Financial assistance up to 5%, to use for down payment and/or closing costs. Up to 4% in DPA is available for an FHA, VA or USDA 30-year fixed-rate mortgage through the GSFA Platinum Program. Book A Call With Down Payment Specialist Jason Whigham. Min FICO Score: 660 680 Manufactured: Max DTI Ratio <680; 45% with LPA or DU Accept >680 50% LPA or DU Accept Manufactured 45.00%: Property Type: 1 unit SFRs, Condos, … Effective immediately, a Maximum DTI of 50% is allowed for borrowers with a minimum FICO of 680. GSFA has supported affordable homeownership in California for over two decades, providing homeownership programs featuring competitive interest rates and down payment assistance. Contacting one of these Loan Officers will put you in direct contact with a loan officer that has extensive experience with the Program. Various first mortgage loan types available to fit the needs of the homebuyer. Copyright© 2006-2020  Golden State Finance Authority (GSFA). Minimum FICO is 640 | Maximum DTI is 45%. So, 7% DPA on a $450,000 loan amount = $31,500 in Down Payment Assistance (450,000 x.07). JASON WHIGHAM ( CA - licensed mortgage loan originator ) CA DOWN PAYMENT ASSISTANCE SPECIALIST NMLS# 1448396. Various first mortgage loan types available to fit the needs of the homebuyer. Second, the homebuyer(s) must apply for the Program through a GSFA Platinum Participating Lender and meet all the qualifying guidelines for the type of mortgage loan being used to finance the purchase of the home. For FHA, VA, or Conventional 30-year fixed rate mortgages up to a 5% sized grant is available, for USDA 30-year fixed-rate mortgages up to a 3% sized grant is available) The GSFA Platinum Program has providing more than $597.8 million in Down Payment Assistance to individuals and families purchasing homes in California. We specialize in first time home buyer down payment assistance and closing cost programs. All rights reserved. Consider These Benefits… There are many advantages specific to the GSFA platinum program such as: The GSFA Platinum Program helps low-to-moderate income homebuyers in California purchase a home by providing down payment and/or closing cost assistance (DPA). GSFA has helped more than 78,400 individuals and families in California to purchase homes, providing more than $569.7 million in down payment assistance. STEP 1. Any DPA provided as a Gift, does not have to be repaid. The Second Mortgage accrues no interest, has no monthly payments and is completely forgiven after three (3) years from the close of escrow. Property being purchased must be used as a primary residence. If you are a qualifying veteran, you can also take advantage … Max LTV/CLTV: AUS: 96.5% LTV/105% CLTV. California Home Buyers may be eligible to BUY A HOME WITH NO MONEY DOWN with the Golden State Finance Authority Platinum FHA Program. CalHFA and GSFA Golden State Finance Authority are the two most popular down payment assistance mortgage loans in California. The City of Brentwood offers first-time homebuyers the Down Payment Assistance Program (DAP), which provides funds that go toward the down payment and/or closing costs. The grant is up to 5% of the loan amount. Flexible income limits (low-to-moderate income). The program offers home buyers the option of funds in the form of a second mortgage or a gift, depending on eligibility. 1:03. First, the homebuyer(s) must meet GSFA's specific qualifying guidelines for the Program which include the following(1): GSFA Platinum is designed to be flexible and accessible, which is why it is not not limited to first-time homebuyers. Conventional, FHA, VA, and USDA 30-year mortgages are allowed. Check Out The Next Steps Below. The GSFA Platinum Down Payment Assistance grant program provides money to help home buyers pay for their down payment and closing costs. The GSFA Affordable … The GSFA OpenDoors Program helps low-to-moderate income homebuyers in California purchase a home by providing down payment and/or closing cost assistance (DPA), up to 7% of the First Mortgage Loan amount. Whether someone owned a home in the past or not, they can apply for the Program. My-Down Payment Assistance is California’s most trusted name for down payment assistance programs. Adam Barakzai 61 views. Effective for GSFA Platinum and GSFA OpenDoors Transactions. Golden State Finance Authority (GSFA) Platinum Down Payment Assistance Program - Freddie Mac HFA: Maximum Assistance Amount: Freddie Mac below 80% AMI: 3%, 4% or 5% of the Note amount. Arguably the best down payment assistance option in California is the GSFA Platinum down payment assistance program. GSFA Platinum borrowers with certain occupations are eligible to apply for a DPA Gift instead of a Second Mortgage. GSFA OpenDoors Participating Lenders can provide complete program guidelines, current interest rates, loan applications, applicable fees and annual percentage rates (APRs.). Example: On a $300,000 Mortgage Loan, the OpenDoors Program can provide DPA up to $21,000. The Deferred DPA Second Loan has a 30-year term and a … Homebuyer doesn't have to be a first-time homebuyer to qualify. No Down Payment Required. To find out how much the down payment assistance grant through GSFA Platinum could multiply the grant percentage by the loan amount (The size of grant depends on the loan type. |    Privacy Statement    |    Follow us on Facebook    |    Contact Us. Call Jason Whigham Now 800-807-5022. ️Home Buyers GSFA Explained: NEED DOWN PAYMENT ASSISTANCE? The Golden State Finance Authority (GSFA) Platinum grant program provides down payment and and closing cost assistance ranging from 3% – 5% of the loan amount in the form of a non-repayable gift. All rights reserved. A few Popular CA Loan Options are CalHFA, OpenDoors GSFA, conventional loans, etc. Financial assistance up to 7%, to use for down payment and/or closing costs. See a GSFA Platinum Participating Lender for complete program guidelines, current interest rates, loan applications, applicable fees and annual percentage rates (APRs.). The GSFA Platinum Program helps low-to-moderate income homebuyers in California purchase a home by providing down payment and/or closing cost assistance (DPA). GSFA OpenDoors™ — Down Payment Assistance Program A New Homeownership Program from GSFA, featuring up to 7% in down payment assistance GSFA OpenDoors™ Income Limits Income guidelines for the GSFA OpenDoors Program depend on the First Mortgage Loan type, as well as the county in which the property is located. The GSFA OpenDoors Program helps low-to-moderate income homebuyers in California purchase a home by providing down payment and/or closing cost assistance (DPA), up to 7% of the First Mortgage Loan amount. Homebuyer doesn't have to be a first-time homebuyer to qualify. GSFA Down Payment Assistance . Effective for GSFA Platinum Transactions Only. This change applies to FHA as well as Conventional Loans underwritten though LPA. Contact GSFA about Programs: Client Relations Department, Golden State Finance Authority, [email protected] or toll-free (855) 740-8422; Please feel free to visit the Finance Helpline's Tools You Can Use, Relevant News & Articles, Finance Q&As, Down Payment Assistance, and Finance Webinars page(s) for more helpful information or simply Contact Us. After choosing your program, Jason Will help with your CA home loan / CA Down Payment assistance. The Deferred DPA Second Loan has a 30-year term and a zero percent note rate. The GSFA OpenDoors Program helps low-to-moderate income homebuyers in California purchase a home by providing down payment and/or closing cost assistance (DPA), up to 7% of the First Mortgage Loan amount. The GSFA Platinum Grant is a California down payment assistance program that provides up to 5% of the loan amount in the form of a non-repayable grant to support responsible and sustainable homownership for eligible California home buyers. It accrues no interest, has no monthly payments, but is due and payable upon sale, refinance or payoff of the First Mortgage. The DPA Gift never has to be repaid. Assistance comes in the form of a deferred payment loan program for first-time homebuyers. Financial assistance … Program Highlights. The GSFA OpenDoors Program helps low-to-moderate income homebuyers in California purchase a home by providing down payment and/or closing cost assistance (DPA), up to 7% of the First Mortgage Loan … |    Privacy Statement    |    Follow us on Facebook    |    Contact Us. CALL OR TEXT JASON WHIGHAM NOW TO GET PRE-APPROVAL LETTER … Program Highlights (1) Financial assistance up to 5%, to use for down payment and/or closing costs. Down Payment Assistance GSFA provides down payment assistance(DPA) programs to help California homebuyers purchase a home with little-to-no money out of pocket. For many homebuyers, the assistance is provided as a zero percent Second Mortgage. This is a gift in the true sense, which means it is not a second mortgage, does not create a lien against the property, and there are no terms for repayment. Example: On a $300,000 Mortgage Loan, the OpenDoors Program can provide DPA up to $21,000. The CHDAP, Platinum, and ACCESS program all provide 3% to 5% assistance that can be applied towards meeting FHA’s 3.5% minimum down payment requirement. Plus Jason will connect you to his preferred Realtor Jenifer Whigham. CA Loan Officer Jason Whigham will Call / text you to go over your CA down payment assistance options . GSFA Platinum ® — Down Payment Assistance Program Provides Down Payment Assistance in the form of a Gift or Forgivable Second Loan GSFA Platinum ® Lender Participant Guide Information in this Participant Guide is intended for mortgage professionals only. Freddie Mac above 80% AMI: 1%, 2% or 3% of the Note amount. 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