Max LTV/CLTV: AUS: 96.5% LTV/105% CLTV. How does GSFA work? Book A Call With Down Payment Specialist Jason Whigham. The DPA Second Mortgage provided through the GSFA OpenDoors Program has a repayment requirement. Program Highlights (1) Financial assistance up to 5%, to use for down payment and/or closing costs. CALL OR TEXT JASON WHIGHAM NOW TO GET PRE-APPROVAL LETTER … Various first mortgage loan types available to fit the needs of the homebuyer. GSFA Down Payment Assistance . 1:03. 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. Contacting one of these Loan Officers will put you in direct contact with a loan officer that has extensive experience with the Program. 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. Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. (1) Certain restrictions apply on all programs. Consider These Benefits… There are many advantages specific to the GSFA platinum program such as: 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 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. 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. Programs are available for purchase or refinance of a primary residence anywhere in California and there is no first-time homebuyer requirement to qualify. So, 7% DPA on a $450,000 loan amount = $31,500 in Down Payment Assistance (450,000 x.07). 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.. 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. Flexible income limits (low-to-moderate income). 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. Contact CA Loan Officer Jason Whigham to know more about our assistance programs! GSFA Platinum Down Payment Assistance Program Advantages/Benefits Gift and First Mortgage Options Eligibility Guidelines MGIC • HFA Advantage Coverage • GSFA Paid MI. 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. Example: On a $300,000 Mortgage Loan, the OpenDoors Program can provide DPA up to $21,000. 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. The DPA Gift never has to be repaid. The loan can be FHA, VA, or conventional. Effective for GSFA Platinum Transactions Only. 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. No Down Payment Required. All rights reserved. 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. See a GSFA Platinum Participating Lender for 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. | Privacy Statement | Follow us on Facebook | Contact Us. 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). Freddie Mac above 80% AMI: 1%, 2% or 3% of the Note amount. 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. Stats updated 01/06/2020 Guideline Updates for GSFA Down Payment Assistance Programs. If you are a qualifying veteran, you can also take advantage … Platinum Select has been suspended: All the above options are available for Select borrowers, with the assistance provided as a grant … In addition, GSFA has provided financing for more than 35,250 residential or commercial energy efficiency projects in California. Various first mortgage loan types available to fit the needs of the homebuyer. Flexible income limits (low-to-moderate income). 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. 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. DPA is forgiven immediately for select occupations including First Responders, law enforcement, teachers, and more. Whether someone owned a home in the past or not, they can apply for the Program. Up to 4% in DPA is available for an FHA, VA or USDA 30-year fixed-rate mortgage through the GSFA Platinum Program. 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. 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