Helping Families Realize The Dream Of Homeownership Since 1990

Information presented by:

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?

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

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

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 Ocean Lending 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

California Down Payment

Assistance Programs

NOT A GOVERNMENT

WEBSITE

GET STARTED

(619)992-4061

Laura Borja | Senior Mortgage Consultant | NMLS#199107

Cell: (619) 992-4061

laura@lauraborja.com

27271 Las Ramblas ste 150  Mission Viejo CA 92691

This website is not authorized by the New York State Department of Financial Services to accept mortgage loan applications for properties located in New York. Intended for California Consumers Only.

 

Ocean Lending Home Loans Inc.  NMLS ID #1626788 (www.nmlsconsumeraccess.org). 27271 Las Ramblas ste 150 Mission Viejo CA 92691 (888) 508-5030. All rights reserved. This is not an offer to enter into an agreement. Information, rates, & programs are subject to change without prior notice and may not be available in all states. All products are subject to credit & property approval. Ocean Lending is not affiliated with any government agency.   Licensed by the Dept of Business Oversight under the California Residential Mortgage Lending Act  License # 41DBO-76602 and Finance Lenders Law Lic # 60DBO71981