|    Privacy Statement    |    Follow us on Facebook    |    Contact Us. 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. We specialize in first time home buyer down payment assistance and closing cost programs. 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, … 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). Book A Call With Down Payment Specialist Jason Whigham. The Deferred DPA Second Loan has a 30-year term and a … 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. Consider These Benefits… There are many advantages specific to the GSFA platinum program such as: STEP 1. The loan can be FHA, VA, or conventional. Any DPA provided as a Gift, does not have to be repaid. Check Out The Next Steps Below. Program Highlights (1) GSFA Platinum borrowers with certain occupations are eligible to apply for a DPA Gift instead of a Second Mortgage. Find CA Down Payment Assistance Programs. The DPA Gift never has to be repaid. Brentwood Down Payment Assistance Program. Property being purchased must be used as a primary residence. So, 7% DPA on a $450,000 loan amount = $31,500 in Down Payment Assistance (450,000 x.07). 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. (1) Certain restrictions apply on all programs. Various first mortgage loan types available to fit the needs of the homebuyer. Adam Barakzai 61 views. Max LTV/CLTV: AUS: 96.5% LTV/105% CLTV. 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. JASON WHIGHAM ( CA - licensed mortgage loan originator ) CA DOWN PAYMENT ASSISTANCE SPECIALIST NMLS# 1448396. 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. CA Loan Officer Jason Whigham will Call / text you to go over your CA down payment assistance options . The DPA Second Mortgage provided through the GSFA OpenDoors Program has a repayment requirement. The GSFA Affordable … Effective immediately, a Maximum DTI of 50% is allowed for borrowers with a minimum FICO of 680. 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. Homebuyer doesn't have to be a first-time homebuyer to qualify. Up to 4% in DPA is available for an FHA, VA or USDA 30-year fixed-rate mortgage through the GSFA Platinum Program. Stats updated 01/06/2020 Whether someone owned a home in the past or not, they can apply for the Program. 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). Guideline Updates for GSFA Down Payment Assistance Programs. The GSFA Platinum Program has providing more than $597.8 million in Down Payment Assistance to individuals and families purchasing homes in California. There are no income limits for buyers and no minimal closing costs necessary. The Deferred DPA Second Loan has a 30-year term and a zero percent note rate. Copyright© 2006-2020  Golden State Finance Authority (GSFA). 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 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 … All rights reserved. Programs are available for purchase or refinance of a primary residence anywhere in California and there is no first-time homebuyer requirement to qualify. Program Highlights. Current interest rates and APRs are available through a Participating Lender. Platinum Select has been suspended: All the above options are available for Select borrowers, with the assistance provided as a grant … CalHFA and GSFA Golden State Finance Authority are the two most popular down payment assistance mortgage loans in California. GSFA OpenDoors Participating Lenders can provide complete program guidelines, current interest rates, loan applications, applicable fees and annual percentage rates (APRs.). 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. 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. 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. Financial assistance up to 7%, to use for down payment and/or closing costs. 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. 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 … Assistance comes in the form of a deferred payment loan program for first-time homebuyers. For many homebuyers, the assistance is provided as a zero percent Second Mortgage. Homebuyer doesn't have to be a first-time homebuyer to qualify. 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. My-Down Payment Assistance is California’s most trusted name for down payment assistance programs. Contacting one of these Loan Officers will put you in direct contact with a loan officer that has extensive experience with the Program. (1) Program Highlights only. CalHFA My Home Assistance Program 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. Effective for GSFA Platinum Transactions Only. 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. It accrues no interest, has no monthly payments, but is due and payable upon sale, refinance or payoff of the First Mortgage. A few Popular CA Loan Options are CalHFA, OpenDoors GSFA, conventional loans, etc. 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. 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 … GSFA Down Payment Assistance . All rights reserved. No Down Payment Required. 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. Arguably the best down payment assistance option in California is the GSFA Platinum down payment assistance program. GSFA has supported affordable homeownership in California for over two decades, providing homeownership programs featuring competitive interest rates and down payment assistance. 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. 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. Features & Eligibility. The DPA Second Mortgage provided through the GSFA OpenDoors Program has a repayment requirement. Homebuyer doesn't have to be a first-time homebuyer to qualify. 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. Plus Jason will connect you to his preferred Realtor Jenifer Whigham. Thank You. Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Freddie Mac above 80% AMI: 1%, 2% or 3% of the Note amount. ️Home Buyers GSFA Explained: NEED DOWN PAYMENT ASSISTANCE? If you are a qualifying veteran, you can also take advantage … 1:03. HOW ABOUT A FORGIVABLE 2nd - Duration: 1:03. 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. 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. California Home Buyers may be eligible to BUY A HOME WITH NO MONEY DOWN with the Golden State Finance Authority Platinum FHA Program. 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). In addition, GSFA has provided financing for more than 35,250 residential or commercial energy efficiency projects in California. 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.. DPA is forgiven immediately for select occupations including First Responders, law enforcement, teachers, and more. Copyright© 2006-2020  Golden State Finance Authority (GSFA). 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. 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). 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. 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 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. Responders, law enforcement, teachers, and more Golden State Finance Authority GSFA! 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