This can drastically reduce out of pocket costs, which can help families into homes sooner. GSFA Platinum Program explained in detail. The Program Term Sheets for GSFA Platinum have been updated and are available online in the GSFA Platinum Lender Participation Guide. Effective immediately, GSFA is expanding the Platinum Select program to include Medical and Healthcare workers. Credit scores myths when you are buying a home addressed by nationally renowned mortgage loan officer Brian Decker. So, for example: A $350,000 loan would be eligible for a grant of up to $12,250. for GSFA Platinum Program. Program Benefits . Program Highlights . Financial assistance up to 5%, to use … They give you … Promotional offer is applicable for GSFA MCC reservations made April 1, 2017 through December 31, 2017. Live on Facebook/IG/Youtube 1st & 3rd Tues 7pm Golden State Finance Authority #thepowerisnow #gsfa #homeownership . tve is a non-profit established in 1985. Before you … GSFA OpenDoors™ Program is designed to increase homeownership opportunities for low-to-moderate income individuals and families in California. The grant does not have to be repaid. 09/24/2020 GSFA Single-Family Housing - Bulletin #20-19 - GSFA Platinum Update . GSFA Grant sized at 5% of the 1st loan amount. The program offers home buyers the option of funds in the form of a second mortgage or a gift, depending on eligibility. DPA Amount: • Up to 7.00% of the First Mortgage Loan amount. GSFA Platinum Program Update. I proudly offer this program and you might hear it called the GFSA platinum program. Borrower must meet income-eligibility. California home buyers should also explore one of the many other options for down payment and closing cost assistance available Statewide. The GSFA Platinum Down Payment Assistance program can help families and individuals achieve their dream of home ownership. Consider These Benefits… There are many advantages specific to the GSFA platinum program such as: You don’t need to be a first time home … 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 … Arguably the best down payment assistance option in California is the GSFA Platinum down payment assistance program. GSFA Single-Family Bulletin #20-19 published. GSFA Platinum Program: The GSFA Platinum program is currently offline. GSFA Platinum; CalPLUS Combo; Chenoa Loan Program; ITIN Loans; Vacation Rentals & Investments; Resources; FAQ; About Us; Contact Us; Home; Buying a Home; Loan Programs; Vacation Rentals & Investments; Resources ; FAQ; About Us; Contact Us GSFA Platinum. GSFA Platinum Grant Program. The program can assist with up to 5% of the loan amount to use towards down payment and closing costs. 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 … GSFA Platinum Down Payment Assistance Program Advantages/Benefits Gift and First Mortgage Options Eligibility Guidelines MGIC • HFA Advantage Coverage • GSFA Paid MI. The grant funds are not … The Deferred DPA Second Loan has a 30-year term and a … Updates to GSFA Platinum … . Tune In to Homebuyer Town Hall Show @carolynsuneri talks about the GSFA Platinum® Program- up to 5% of the loan amount. The Platinum program seems like it should be the better program because the 5% grant never has to be repaid, right? Please contact your corporate office. 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. 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). The following is an update to the Servicing Release Premium for all GSFA Platinum loan reservations made on or after October 12, 2020. 05/08/2017 11 SCENARIO 30-year fixed rate mortgage loan. Features & Eligibility. Since 2010, GSFA Platinum has helped 24,000 people to purchase homes, providing more than $213.9 million in down payment and/or closing cost assistance. About us (855) 740-8422; GSFA Financial Assistance Programs for Homebuyers and Homeowners; Guide to GSFA Platinum Down Payment Assistance Program - PDF; Guide to GSFA MCC Tax Credit Program - PDF Example: On a $300,000 Mortgage Loan, the OpenDoors Program can provide DPA up to $21,000. GSFA Platinum Loan Limits. Chenoa Down Payment - Zero Down Chenoa Loan Program explained by Nikki R Aguirre - Duration: 4:34. Through the GSFA Platinum Program, Mission San Jose provides qualified homebuyers with competitive 30-year home financing and a grant that can be used toward down payment. Many times this allows homebuyers to purchase a home sooner than they thought possible. What most lenders don’t disclose is that CHF Platinum charges an additonal 1.5% up front fee, which increases your closing costs significantly. It’s available through the Golden State Finance Authority (GSFA). The NHF grant is now the GSFA Platinum Grant up to 5% of the loan amount for down payment and closing costs. The Preamble of the GSFA contains additional information for interpreting the data. What’s A Reverse Home Loan And How Do They Work? Owner Occupied only – must be borrowers primary residence; NO First Time Homebuyer Requirement - Cannot own any other homes ; Maximum Debt to Income 45% with … With the GSFA Platinum program, there is a grant of 5% of the total loan amount, which is a net grant of 3.5% to the borrower. The program can also be used to refinance your … Now, this dedicated and deserving group of individuals are eligible for the Platinum DPA in the form of a non-repayable Gift versus the standard forgivable loan. Below is a list of resources from the Golden State Finance Authority (GSFA) that the Finance Helpline has considered important and relevant. The Platinum Grant Conventional program (Freddie Mac HFA Advantage) will allow loan amounts up to the county loan limit. The GSFA Platinum Program was created to help low-to-moderate income homebuyers in California purchase a home by providing down payment and/or closing cost assistance, currently in the form of a non-repayable grant. The DPA Second Mortgage provided through the GSFA OpenDoors Program has a repayment requirement. Property being purchased must be used as a primary residence. *MI … The GSFA Platinum “Select” program allows borrowers to take advantage of down-payment assistance with a non-repayable gift instead of a second mortgage. Our annual Global Sustainability Film Awards, founded in 2012, recognise outstanding films from the business, non-profit, … This can be used towards the down payment and the borrower’s closing costs. 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). Eligibility. Jumbo 20% Down 1 Unit; Jumbo 15% Down 1 Unit; Portfolio Loans. The GSFA Platinum Grant is an ongoing program with no specific end date and may be discontinued at anytime. Attempt paying more than what you’re expected to pay every month. California home buyers have many options to choose from. 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. Updated 9/28/17: For information on the NHF Platinum Grant, see GSFA Platinum Grant. 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. From now through December 31, 2017, GSFA will waive the application fee for any GSFA MCC reservation made in conjunction with the GSFA Platinum Program. GSFA Platinum Grant | Borrower Requirements. Nikki R Aguirre | … Reservations for this program are available Monday through Friday between 9:00 AM PST and 4:00 PM PST (holidays excluded). 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. 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 borrower would not have to repay the grant because it is forgiven when the loan closes. Hidden Expenses – there ought to be no other concealed expenses. The promotion waives the $350 application fee for GSFA MCC reservations if the MCC reservation is made concurrently with a GSFA Platinum Program reservation. You may be eligible for a non-repayable grant from the GSFA Platinum Down Payment Assistance Program. 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. By receiving a gift instead of an additional loan, many individuals and families across California will be able to access affordable financing for a comfortable, reliable home. 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 . For questions or … An attractive 30-year, fixed-rate mortgage. For additional information, contact NHF Customer Service at (866) 643-4968 or email info@nhfloan.org: Message Center Currently the program is perpetually funded and should be around for a while. The GSFA Platinum Down Payment Assistance grant program provides money to help home buyers pay for their down payment and closing costs. Program Highlights . So your ‘5% grant’ only covers the down payment for an FHA loan. Prior Day Rates: (Note: Rates subject to change without notice) Ginnie Mae FHA / USDA / VA Rates: 2.250% Rate / 0.00% DPA 2.250% Rate / 2.00% DPA 2.375% Rate / 3.00% DPA 2.625% Rate … Conventional, FHA, VA, and USDA 30-year mortgages are all allowed. The updated income limits are based on the county in which the property is located and will be effective for all Conventional loans locked on or after July 12, 2020. Minimum Reserves: If minimum FICO is ever lowered, FICO <660, 1 month reserves and 9 months current employment history will be required required (FHA only) Other Borrower Eligibility Requirements: Non U.S. Citizens lawfully residing in the U.S. as a permanent resident alien are eligible for a mortgage on the same terms as a … Our mission is to harnesses the power of film to drive real-world action for a more sustainable future . Current interest rates and APRS are available through a participating lender. Welcome: Questions concerning logins? This bulletin serves as a clarification of the maximum DTI allowances for Government Loans under the GSFA Platinum Program. The loan can be FHA, VA, or conventional. Servicing Release Premium (based on First Mortgage): 0.50%. To take advantage of the promotional offer, Lenders simply provide GSFA with a copy of the GSFA Platinum Reservation Confirmation along with the GSFA MCC Closing Package in lieu of the $350 GFSA MCC application fee. Users are encouraged to consult the Preamble when using this database. GSFA Platinum does not have any program assets requirements. The "Codex General Standard for Food Additives" (GSFA, Codex STAN 192-1995) sets forth the conditions under which permitted food additives may be used in all foods, whether or not they have previously been standardized by Codex. Top Searched Posts Most Searched Fixed Gic Rate, Payoff Mortgage Early, Good Credit, Mortgage Bankers and Fontana Wholesale Mortgage Lenders local Fresno area. GSFA Platinum Down Payment Assistance Program. Financial assistance up to 7%, to use for down payment and/or closing … … The grant is up to 5% of the loan amount. 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