Welcome to Pathways! GSFA MCC ® Mortgage Credit Certificate. GSFA OpenDoors ® Down Payment Assistance. //--> //-->. The literature is available for download in PDF format for ease of printing. Common Down Payment Assistance MYTHS www.gsfahome.org | (855) 740-8422 11/27/2017 4 Only in certain areas Only for first-time homebuyers Only for low income Only for those with zero savings Only for exceptional credit Has to be paid back Only works with FHA Harder to qualify Takes longer to close Limited funding * According to findings from the second annual America at Home survey A Mortgage Credit Certificate Can Mean Thousands of Dollars Back Every Year. See a GSFA Platinum Participating Lender for complete program guidelines, current interest rates, loan applications, applicable fees and annual percentage rates (APRs.). 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. Program Highlights (1) Financial assistance up to 5%, to use for down payment and/or closing costs. All rights reserved. Financing/Down Payment Assistance . |    Privacy Statement    |    Follow us on Facebook    |    Contact Us. ywlVoUKDFhRtFrS(); The GSFA Platinum Program has providing more than $585.7 million in Down Payment Assistance to individuals and families purchasing homes in California. Example: On a $300,000 Mortgage Loan, the OpenDoors Program can provide DPA up to $21,000. For additional information, contact NHF Customer Service at (866) 643-4968 or email info@nhfloan.org: Message Center /* Munged addy code - YOU CAN EDIT COMMENT THIS TAG BETWEEN THE TWO STARS */ Over the past 27 years, GSFA has helped more than 79,700 individuals and families purchase homes and provided financing for 31,680 residential or commercial energy efficiency projects. Our downpayment assistance is only for homebuyers who use our home loan programs, either Home Advantage or Opportunity.If your household income is under the program limits (up to $145,000), your credit score is at least 620, and you’re otherwise qualified for a home loan, you are probably eligible. otItkcZThoFwUhF(); FHA Handbook are met including providing the following from the provider of any secondary Max Assistance. Downpayment Assistance FAQ: How can I get this assistance? More... Copyright© 2006-2020 Golden State Finance Authority (GSFA). This 5% grant can be used to pay the loan program minimum down payment requirement and/or to pay closing costs. To calculate the DPA in dollars, multiply the DPA percentage(1) by the First Mortgage Loan amount. About us (855) 740-8422 GSFA Financial Assistance Programs for Homebuyers and Homeowners Guide to GSFA Platinum Down Payment Assistance Program - PDF The federal government offers help through Mortgage Credit Certificates (MCCs), an annual federal income tax credit that enables first-tim… The grant is up to 5% of the loan amount. Minimum FICO is 640 | Maximum DTI is 45%. Program Highlights (1) The Participant Guide contains links to program guidelines, term sheets, and much more for GSFA Platinum Participating Lenders. GSFA Platinum ® Down Payment Assistance. Contacting one of these Loan Officers will put you in direct contact with a loan officer that … Homebuyer doesn't have to be a first-time homebuyer to qualify. Freddie Mac above 80% AMI: 1%, 2% or 3% of the Note amount. Information in this Participant Guide is intended for mortgage professionals only. Current interest rates and APRs are available through a Participating Lender. Knowledge is key to being successful as a mortgage professional in today's market. California’s Golden State Finance Authority (GSFA) created what they call their Platinum Program, which provides California homebuyers with down payment and/or closing cost assistance to help them achieve their goals of purchasing a home. Freddie Mac below 80% AMI: 3%, 4% or 5% of the Note amount. Benefits You’ll Love About GSFA Platinum Program Various first mortgage loan types available to fit the needs of the homebuyer. Click Here to Register for any of the following: The marketing literature provided below is for use by Participating Lenders ONLY. ( GSFA ) have to be a first-time homebuyer requirement to qualify company... Not, they can apply for a DPA gift instead of a second with. % AMI.50 % of the Note amount copyright© 2006-2020 Golden State Finance Authority assistance! 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