The GSFA Platinum program is currently offline. Golden State Finance Authority (GSFA) PLATINUM program is one of the most popular down payment assistance programs out there right now! The grant does not have to be repaid. Note: Special Programs may only be originated by trained, approved clients. 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. Effective for GSFA Platinum and GSFA OpenDoors Transactions The GSFA Affordable Subsidy promotion will be ending on February 7, 2020. 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 … Gateway Mortgage Group, Correspondent Lending, a division of Gateway First Bank – 05.03.2019 . Please note that all information is provided for informational purposes only, for the exclusive use of licensed mortgage professionals, and not for distribution to the public. Golden State Finance Authority (GSFA) is pleased to announce the Platinum “Select” feature, our latest addition to the GSFA Platinum Program. The deadline to lock Select loans is 3:00 p.m. today, July 9, 2020. USDA Mortgage Loan + GSFA Platinum Gift = Win/Win for Homebuyers in Rural California Markets USDA’s loan guarantee program features some big benefits … To calculate the DPA in dollars, multiply the DPA percentage(1) by the First Mortgage Loan amount. Reservations for this program are available Monday through Friday between 9:00 AM PST and 4:00 PM PST (holidays excluded). Effective immediately, MWF borrowers in a qualifying profession may enjoy the benefits of the Platinum first mortgage with down payment assistance of 3%, 4% or 5% available as a grant forgiven at closing. All reservations which include the GSFA Affordable Subsidy must be reserved through the Online Reservation System or lock through GEMS by close 4:00 PM PST, February 7, 2020. There is no cost reduction for shorter lock periods. Are you a low- to median-income home buyer? 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. Chenoa Down Payment - Zero Down Chenoa Loan Program explained by Nikki R Aguirre - Duration: 4:34. # Days for Rate Lock: Locks are available for 30 days. So, for example: A $350,000 loan would be eligible for a grant of up to $12,250. GSFA OpenDoors™ - Conventional. 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. Many times this allows homebuyers to purchase a … PROGRAM DESCRIPTION . Central Coast Lending is proud to announce our approved to offer a new loan program- the GSFA Platinum down payment assistance program! Danh Nguyen and Tonya Todd present GSFA Platinum Grant Program GSFA will gift first time home buyers with up to 5% of the purchase price to cover down payment and closing costs. There are many programs across the US that offer financing for the down payment of a home and even for the closing costs of a mortgage. Welcome: Questions concerning logins? GSFA OpenDoors™ Program is designed to increase homeownership opportunities for low- Golden State Finance Authority @carolynsunseri #thepowerisnow #gsfa #homeownership . This can be used towards the down payment and the borrower’s closing costs. ... a housing finance entity providing down payment assistance programs to … Tune In to Homebuyer Town Hall Show @carolynsuneri talks about the GSFA Platinum® Program- up to 5% of the loan amount. 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. GSFA has announced the availability of the Platinum Select program. 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. 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. You may be eligible for a non-repayable grant from the GSFA Platinum Down Payment Assistance Program.. Due to feasibility study findings, MWF must suspend the GSFA Platinum Select Program. Program changes from a locked non-Select program to the Select program will not be accepted For additional information, contact NHF Customer Service at (866) 643-4968 or email [email protected]: Message Center Due to the COVID-19 pandemic, GSFA and US Bank are expanding the “Select” feature within the GSFA Platinum Program to Medical and Healthcare Workers, in addition to the previously eligible occupations. GSFA PLATINUM PROGRAM Grant Down Payment Up to 5% of Loan Amount* Assistance Program Call Michael at: (925) 351-9207. The GSFA Platinum Down Payment Assistance grant program provides money to help home buyers pay for their down payment and closing costs.The grant is up to 5% of the loan amount.The loan can be FHA, VA, or conventional. The GSFA Platinum Grant is an ongoing program with no specific end date and may be discontinued at anytime. 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 responsible and sustainable homownership for eligible California home buyers. Learn more about the GSFA Platinum® Program on the Home Buyer Town Hall every 1st and 3rd Tuesday 7pm Live on Facebook/IG/Youtube. 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.. Currently the program is perpetually funded and should be around for a … Up to 4% in DPA is available for an FHA, VA or USDA 30-year fixed-rate mortgage through the GSFA Platinum Program. Title: GSFA-Platinum … Included in this Bulletin: GSFA Platinum Program Expansions Mountain West Financial® is excited to join GSFA in honoring of all the hard work and sacrifices of our Healthcare workers during the COVID-19 pandemic. GSFA Platinum Program Term Sheets have been updated. 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. GSFA PLATINUM® DOWN PAYMENT ASSISTANCE PROGRAM 11/27/2017 Training for Mortgage Professionals www.gsfahome.org | (855) 740-8422 SPECIAL ANNOUNCEMENT ----- GSFA Platinum "Select" Grant Feature Extended to Medical and Healthcare Workers ----- Single-Family Bulletin #20-09... Jump to. 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. This change is effective for all new GSFA Platinum loan reservations made on … Nikki R Aguirre | … So, 7% DPA on a $450,000 loan amount = $31,500 in Down Payment Assistance (450,000 x .07). 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. GSFA Platinum Grant loan limits for all first mortgage programs is $424,100. Prior Day Rates: (Note: Rates subject to change without notice) Platinum "Select" Grant Feature Extended to Medical and Healthcare Workers - Bulletin #20-09. Effective immediately, GSFA Platinum borrowers who qualify for the Platinum “Select” feature, will be eligible for Down Payment Assistance (DPA) in the form of a non-repayable Gift instead of a Second Mortgage. GSFA Platinum Grant | Program End Date. Credit scores myths when you are buying a home addressed by nationally renowned mortgage loan officer Brian Decker. Extensions beyond 30 days require approval by GSFA. Arguably the best down payment assistance option in California is the GSFA Platinum down payment assistance program. 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 . 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. MWF will accept lock requests for Platinum programs from 8:30 AM to 3:00 PM PT. Promotional offer is applicable for GSFA MCC reservations made April 1, 2017 through December 31, 2017. The GSFA Platinum down payment assistance program was created to help low to moderate income homebuyers in the state of California purchase a home by providing down payment and/or closing cost assistance in the form of a non-repayable grant. Please contact your corporate office. Learn more about the GSFA Platinum® Program on the Home Buyer Town Hall every 1st and 3rd Tuesday 7pm Live on Facebook/IG/Youtube. Effective immediately, GSFA is expanding the Platinum Select program to include Medical and Healthcare workers. GSFA Platinum Program Update - Bulletin #20-10 https://conta.cc/2xWyBKp Live on Facebook/IG/Youtube 1st & 3rd Tues 7pm Golden State Finance Authority # thepowerisnow # gsfa # homeownership. 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. GSFA Platinum Program explained in detail. 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). GSFA_GOVERNMENTFHA SELECT– 1.23.2020 PAGE 1 OF 9 GSFA PLATINUM SELECT PROGRAM FHA GUIDELINES SUMMARY Equal Housing Opportunity Lender. 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