Information presented by:

California Down Payment Assistance Programs

Helping Families Realize The Dream Of Homeownership Since 1990

NOT a government website

GSFA Platinum Grant Program

The Golden State Finance Authority Grant Program was created to help low to moderate income homebuyers in California.

Who

is this program for?

How

does the program work?

What

properties are eligible?

What

other else do I need to know?

Where

do I apply??

Who

is this program for?

This program is for low to moderate income households who intend to occupy the property as their primary residence.  The applicant DOES NOT need to be a first time  homebuyer.

 

The income limits for this program can be Found on the INCOME LIMITS PAGE

How

does the program work?

The program gives homeowners a silent second loan of up to 5% of the loan amount.  This second mortgage  is forgiven AFTER 3 years and does not need to be repaid.

 

The grant can be used towards down payment and/or to cover closing costs.

 

The Platinum Program grant can be combined with FHA, VA, USDA and Conventional financing

What

properties are eligible?

Single family homes, town homes and condominiums located within the State of California are eligible. Multi unit properties are eligible only if guidelines for the first mortgage allow it them.

What

other else do I need to know?

As already mentioned, these guidelines are not the complete set of eligibility and qualification requirements but rather an overview.

 

  • The program can be used with FHA, VA, USDA and conventional loans with fixed rates
  • Must be able to obtain loan approval for the primary loan
  • Applicants must complete a homebuyer education class
  • Minimum credit score: 640
  • Your new total housing payment plus all other household monthly debts cannot exceed 45% of your total gross income.

Where

do I apply??

Applications are made through an approved participating lender

Laura Borja with Mann Mortgage is an approved participating lender

START

ONLINE

(619)

992-4061

BY PHONE

Download the application worksheet

BY FAX

(866) 765-3804

To schedule an appointment

Call

(619) 992-4061

Or

Schedule Online

IN PERSON

Download the application checklist

California Down Payment Assistance Programs

GET STARTED

GET STARTED

(619)992-4061

Privacy Policy

11230 Sorrento Valley RD, Ste 140

San Diego CA 92121

Bilingual Loan Officer In San Diego San Diego Home Loans on Google Plus