Give them a call and let them know you are interested in getting a GSFA Platinum … Servicing Release Premium (based on First Mortgage): 0.50%. GSFA Platinum Program (Freddie Mac with 3% DPA) GSFA Platinum® GSFA Platinum Grant $0 $5,820 (3%) Monthly P & I $938 $1,012 $139 (0.85%) $105 (0.65%)* Total Monthly Payment $1,077 $1,117 Down Payment Needed $7,000 $180 www.gsfahome.org | (855) 740-8422 . Today we will be discussing the GSFA Platinum Program, which helps homebuyers in California purchase a … Kampangpangan, Contra Costa San Bernardino GSFA MCC Program Funding Update … UPDATE: From July 1 – December 31, 2017, in addition to the GSFA Platinum down payment assistance grant, low income borrowers may be eligible for a GSFA Affordable Subsidy, an additional incentive to help them with down payment and/or closing costs. Santa Clara, San Joaquin Nevada Stanislaus Under the First Home Mortgage Program, applicants can receive up to 4 percent of the total first mortgage amount to be put toward paying the down payment and closing cost assistance. San Bernardino, Placer The GSFA Platinum Down Payment Assistance grant program provides money to help home buyers pay for their down payment and 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. Golden State Finance Authority (GSFA) Platinum Down Payment Assistance Program - FHA. Contacting one of these Loan Officers will put you in direct contact with a loan officer that has extensive experience with the Program. If you qualify, this can be … Example: On a $300,000 Mortgage Loan, the OpenDoors Program can provide DPA up to $21,000. It's available on variety of different mortgage … The GSFA Platinum® Program is available for purchase or refinance of a primary residence anywhere in California and there is no first-time homebuyer requirement to qualify. 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 … In order to reach certain policy goals, CalHFA may set income limits below the federal … A GSFA Platinum Participating Lender will explain program guidelines, provide interest rates and APRs, look into your finances and help you make the right decision for your specific situation and needs. In 23 years GSFA Platinum's done this for 64,000 people; that's not that much (maybe they run out of money each year or something?). The Deferred DPA Second Loan has … For questions or additional … An “N/A” interest rate is a result of market volatility and changing interest rates. San Luis Obispo Fresno The following is an update to the Servicing Release Premium for all GSFA Platinum loan reservations made on or after October 12, 2020. ra s forge whe oa oses a ever has o e rea. State-run Housing Finance Agencies (HFA) offer affordable first mortgages with below-market interest rates and reduced closing costs and fees. The DPA Second Mortgage provided through the GSFA OpenDoors Program has a repayment requirement. There are several types of down payment assistance programs. 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. One solution to the problem — use a Down Payment Assistance (DPA) program such as the GSFA Platinum Program. CalHFA's income limits cannot exceed certain federal maximum limits. Orange This is part II of a five-part series with Carolyn Sunseri, Marketing Director with Golden State Finance Authority. This bulletin serves as a clarification of the maximum DTI allowances for Government Loans under the GSFA Platinum Program. Los Angeles, Imperial Owner Occupied only – must be borrowers primary residence; NO First Time Homebuyer Requirement - Cannot own any other homes ; … Conventional, FHA, VA, and USDA 30-year mortgages are allowed. The Deferred DPA Second Loan has a 30-year term and a zero percent note rate. rhase or renance o a rimar reience X … So, 7% DPA … Below is a list of resources from the Golden State Finance Authority (GSFA) that the Finance Helpline has considered important and relevant. GSFA Single-Family Bulletin #21-01 published. The federal government offers help through Mortgage Credit Certificates (MCCs), an annual fed… Danh Nguyen and tonya todd present gsfa platinum grant Program. I tell everyone I talk to, to give GSFA assitance a try. Conventional, FHA, VA, and USDA 30-year mortgages are all allowed. Sacramento, Tagalog (Filipino) Madera Complete program guidelines, loan applications, interest rates and annual percentage rates (APRs) are available through GSFA … The maximum DTI allowance for Government Loans for the GSFA Platinum down payment assistance program are as follows: VA and USDA RD: 45%; FHA: 45% (Up to 50% for FICOs 680 and higher, except on manufactured housing) The Program … Credit scores myths when you are buying a home addressed by nationally renowned mortgage loan officer Brian Decker. The DPA Second Mortgage provided through the GSFA OpenDoors Program has a repayment requirement. Max LTV/CLTV: AUS: 96.5% LTV/105% CLTV. DPA Form: • DPA is in the form of a Gift and a deferred 30-year term, non-amortizing loan with no monthly payments. Give them a call and let them know you are interested in getting a GSFA Platinum loan. It’s not a complicated loan with very minimal requirements above what the standard FHA requirements … Focused on the platinum program now for the sake of those who uh did not watch part one or two uh would you mind taking uh just a few minutes and giving us kind of a high level overview of the platinum program and Golden State absolutely Well, The platinum program is our most popular program right now and it’s kind of lump to seven key benefits, the first one being that it … Our focus today will be one of their most popular down payment assistance programs, called the GSFA Platinum Program. Funds may be a gift or a 0% rate … Program Bulletins are intended for mortgage professionals only. I am 58 yrs of age, I'm not getting any younger. Marketing Literature. June 2017, Copyright© 2006-2021  Golden State Finance Authority (GSFA). I was surprised at how much I could get and then with the down payment assistance program I couldn't help but buy. Platinum: US Bank and GSFA do not have sales price limits, only loan limits. 05/08/2017 11 SCENARIO 30-year fixed rate mortgage loan. 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. 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.. GSFA Platinum FHA 96.5% LTV (5% DPA)€ First Loan Interest Rate 5.250% 5.000% Purchase Price $200,000 $200,000 Down Payment Required 3.00% ($6,000) 3.50% ($7,000) Base First Loan … All rights reserved. Contra Costa For additional information, contact NHF Customer Service at (866) 643-4968 or email info@nhfloan.org: … Flexibl Eo r tme omeuer reuirement FA, A, SA an Con Àenona orgages are ege. The Platinum Program grant can be combined with FHA, VA, USDA and Conventional financing Contra Costa, Placer DPA General Terms: • Proceeds … The grant is up to 5% of the … |    Privacy Statement    |    Follow us on Facebook    |    Contact Us, American Neighborhood Mortgage Acceptance Company, Ark-La-Tex Financial Srvcs LLC DBA Benchmark Mtg, Belem Servicing LLC dba Patriot Home Mortgage, BM Real Estate Services, Inc. dba Priority Financial Network, CalCon Mutual Mortgage LLC dba One Trust Home, Cardinal Financial Company, Limited Partnership, Country Club Mortgage, Inc DBA Premier Home Loan G, Country Club Mortgage, Inc. DBA Vero Mortgage, Everett Financial, Inc. dba Supreme Lending, Gold Star Mortgage Financial Group, Corporation, Golden West Alliance, Inc dba Provident Lending Gr, International City Mortgage, Inc. DBA Doorway Home Loans, JMJ Financial Group (The Coastal Lending Group), Moria Development, Inc. dba Peoples Mortgage Comp, Opes Advisors, a Division of Flagstar Bank, FSB. Placer PROGRAM DESCRIPTION . Orange, Riverside GSFA announces new Income Limits for Conventional Loans for borrowers with income above 80% Area Median Income (AMI) for both the GSFA Platinum and GSFA OpenDoors Program. 1 For example purposes only; Interest Rate published 11/15/17, subject to change. Program Highlights … 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 … Complete program guidelines, loan applications, interest rates and annual percentage rates (APRs) are available through GSFA … About Us. Sometimes a potential homebuyer can make a house payment with no difficulty, but can't buy a house because they don't have the funds required for down payment and closing costs. Currently the program is perpetually funded and should be around for a while. Borrowers are to contact an approved CalHFA Lender for complete program details. CalHFA offers low interest rates to homebuyers who meet the income for the County in which they wish to purchase. The homebuyer 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. Occupancy Requirement. Financial assistance up to 7%, to use for down … Eligible for FHA, VA, USDA, and Conventional financing. Example: On a $300,000 Mortgage Loan, the OpenDoors Program can provide DPA up to $21,000. GSFA Platinum Program Update Effective for all GSFA Platinum Program reservations made on or after Monday, April 27, 2020, FHA loans will require a minimum FICO of 660. Los Angeles San Joaquin 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 … GSFA Platinum FHA 5% Grant w/640 score 1 Unit; My Home Assistance Program (DPA) 1 Unit; Extra Credit Teacher Program 1 Unit; Manufactured Home Program with 620 score 1 Unit; Jumbo Loans. Funds may be a gift or a 0% rate second mortgage. A GSFA Platinum Participating Lender will explain program guidelines, provide interest rates and APRs, look into your finances and help you make the right decision for your specific situation and needs. The size of DPA available to you depends on the type of First Mortgage Loan you choose. This is not an offer for extension of credit nor a commitment to lend and is subject to change without notice. Up to 4% in DPA is available for an FHA, VA or USDA 30-year fixed-rate mortgage through the GSFA Platinum Program. Jumbo 20% Down 1 Unit; Jumbo 15% Down 1 Unit; Portfolio Loans. Can be used for a home purchase or refinance No-points and no-closing costs options1 Down payments as low as 3% Jumbo loan amounts with down payments as low as 5%-10% Competitive rates and fees Conforming loan amounts No pre-payment penalty Adjustable-Rate Mortgage Loans With our adjustable-rate mortgage loan (ARM), the interest rate is fixed … Click on the Topic of your choice to open and close the content. Special Alerts/Comments: The Platinum Select program … Most borrowers who apply for this program … About us (855) 740-8422; Latest Presentation Slides 12-30-20; GSFA Financial Assistance Programs for Homebuyers and Homeowners; Guide to GSFA Platinum Down Payment Assistance Program … One solution to the problem — use a Down Payment Assistance (DPA) program such as the GSFA Platinum Program. … Los Angeles Note: Special Programs may only be originated by trained, approved clients. GSFA Down Payment Assistance is available for owner-occupied homes. Up to 4% in DPA is available for an FHA, VA or USDA 30-year fixed-rate mortgage through the GSFA Platinum Program. Like the grant, this Subsidy never needs repayment. 9/28/17 The Ins Outs Of the Mortgage Credit Certificate MCC. Today we will be discussing the GSFA Platinum Program, which helps homebuyers in California purchase a home by providing down payment and/or closing cost assistance (DPA) up to 5% of the total loan amount financed. 2.250% Rate / 2.00% DPA. Sample loan scenario: $250,000 purchase price, $245,471 loan amount, 3.5% down payment (funds from the NHF program), $1,671.73/month (PITI), 30-year fixed 4.5% interest rate, 5.664% … There are many advantages specific to the GSFA platinum program such as: You don’t need to be a first time home-buyer. They’ll take it from there! The program gives homeowners a silent second loan of up to 5% of the loan amount. Flexible income limits. Additional Resources: GSFA Platinum Participant Guide. January 29 at 10:23 AM. Lenders can still reserve loans or extend existing rate locks on any loan program … All rights reserved. The … Golden State Finance Authority. The GSFA Platinum “Select” program allows borrowers to take advantage of down-payment assistance with a non-repayable gift instead of a second mortgage. Tulare, Stanislaus For all other Platinum transactions, the DPA is in the form of a zero percent interest rate … By … The Platinum Grant Conventional program (Freddie Mac HFA Advantage) will allow loan amounts up to the county loan limit. Please contact your corporate office. While we are more than happy to answer questions, GSFA does not directly take nor process mortgage loan applications. Program Benefits. DPA Form: 1. For example, up to 5% in DPA is available in conjunction with a Conventional 30-year fixed-rate mortgage. Updates to GSFA Platinum … Riverside Maximum Assistance Amount. DPA Form: • DPA is in the form of a Gift and a deferred 30year term, non- -amortizing loan with no monthly payments: DPA General Terms: • Proceeds may be used for … Purchase Price. San Diego For FHA, … GSFA OpenDoors™ Program … The GSFA Platinum Grant is an ongoing program with no specific end date and may be discontinued at anytime. GSFA announces new Income Limits for Conventional Loans for borrowers with income above 80% Area Median Income (AMI) for both the GSFA Platinum and GSFA OpenDoors Program… 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.. Alameda So, 3% DPA on a $150,000 loan amount = $4,500 (150,000 x .03). 2. The grant can be used towards down payment and/or to cover closing costs. DPA Amount: • Up to 7.00% of the First Mortgage Loan amount. 2.375% Rate … An interest rate may temporarily not be available for any given loan program. GSFA OpenDoors™ Program is designed to increase homeownership opportunities for low to moderate income individuals and families in California . Reservations for this program are available Monday through Friday between 9:00 AM PST and 4:00 PM PST (holidays excluded). ercentae rate A are a Àaiae trou GSFA arcian ener Contact u or a re (erra to a GSFA anum arcian ener X Goen State Finance Autorit GSFA i a u contute uic ent an aenc u 2015 -epay ant To e se for ow amen aor osg oss. Fresno, Fresno The platinum program is our most popular program right now, and it's kind of lumped seven key benefits the first one being that it provides financial assistance up to 5% of the loan amount that can be used for down payment and closing cost the program isn't limited to first-time home buyers and it has very flexible income limits. To calculate the DPA in dollars, multiply the DPA percentage (1) by … UPDATE: 01/26/2018. FHA: 3% or 4% or 5% of Note … GSFA Platinum FHA and Conventional Options EXAMPLE #3 30-year fixed-rate GSFA Platinum mortgages. GSFA Platinum Freddie Mac HFA Advantage 97% LTV (3% DPA)1 First Loan Interest Rate 4.00% 4.625% Purchase Price $200,000 $200,000 Down Payment Required 3.50% ($7,000) 3.00% … Features & Eligibility. Up to 5% can apply to down payment or closing costs. An attractive 30-year, fixed-rate mortgage. Current interest rates and APRS are available through a participating lender. Kings The size of DPA available to you depends on the type of First Mortgage Loan you choose. The first step is to talk to a GSFA Platinum lender! You don’t have to pay it back. GSFA Grant sized at 5% of the 1st … um. GSFA Platinum Program Updates. There are many advantages specific to the GSFA platinum program such as: You don’t need to be a first time home-buyer. Sacramento San Diego, Placer This program helps … |    Privacy Statement    |    Follow us on Facebook    |    Contact Us. Up to 4% in DPA is available for an FHA, VA or … For example, up to 7% in DPA is available in conjunction with a Conventional 30-year fixed-rate mortgage. Please continue to check this page as rates move throughout the day and from day to day. If you have any questions regarding this Lender … GSFA Platinum Loan Limits. 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. Program Bulletins are intended for mortgage professionals only. To calculate the DPA in dollars, multiply the DPA percentage (1) by the First Mortgage Loan amount. GSFA OpenDoors™ Program is designed to increase homeownership opportunities for low-to-moderate income individuals and families in California. Min FICO Score: 660 680 Manufactured: Max DTI Ratio <680; 45% with LPA or DU Accept >680 50% LPA or DU Accept Manufactured … I proudly offer this program and you might hear it called the GFSA platinum program. GSFA Platinum Grant | Borrower Requirements. Many times this allows homebuyers to purchase a home sooner than they thought possible. Lender Training Webinars. 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. Gateway Mortgage Group, Correspondent Lending, a division of Gateway First Bank – 05.03.2019 . Placer, Riverside GSFA Platinum Program Term Sheets have been updated. As a reminder, the GSFA Platinum Program provides down payment assistance (DPA), up to 5% of the total First Mortgage Loan amount and is not limited to first-time homebuyers. 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