Lender Participation. GSFA Platinum Down Payment Assistance Program Advantages/Benefits Gift and First Mortgage Options Eligibility Guidelines MGIC • HFA Advantage Coverage • GSFA Paid MI. To take advantage of the promotional offer, Lenders must provide GSFA with a copy of the GSFA Platinum Reservation Confirmation along with the GSFA MCC Closing Package. *MI … The lender usually charges an origination fee. Program Highlights (1) Financial assistance up to 5%, to use for down payment and/or closing costs. There are many lenders who advertise the programs, but are unable to offer you the programs and use it as a mere lead capture tool. GSFA Platinum Program: The GSFA Platinum program is currently offline. GSFA OpenDoors™ Program is designed to increase homeownership opportunities for low to moderate income individuals and families in California . The templates are intentionally designed with blank input fields for the Participating Lender to add company and contact information before printing. Golden State … MWF will accept lock requests for Platinum programs from 8:30 AM to 3:00 PM PT. |    Privacy Statement    |    Follow us on Facebook    |    Contact Us, GSFA OpenDoors Term Sheet - FHA, VA, USDA Loans - (Gateway Mortgage Group), GSFA OpenDoors Term Sheet - Conventional Loans - (Gateway Mortgage Group), GSFA OpenDoors - Program Lender Agreement, Wednesday, February 10, 2021 | 2:00 PM - 3:00 PM PST, Thursday, February 18, 2021 | 10:00 AM - 11:00 AM PST, Tuesday, February 23, 2021 | 2:00 PM - 3:00 PM PST. Minimum Reserves: FHA: < 660 no longer required to be on their job for 6 months. 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. Begin your home loan process today! What most lenders don’t disclose is that CHF Platinum charges an additonal 1.5% up front fee, which increases your closing costs significantly. To find out if you are eligible for GSFA Platinum Down Payment Assistance, contact a GSFA Platinum Participating lender. They can charge up to 1.5% of the loan amount. There are many advantages specific to the GSFA platinum program such as: You don’t need to be a first time home-buyer. You don’t have to pay it back. Reservations for this program are available Monday through Friday between 9:00 AM PST and 4:00 PM PST (holidays excluded). Homebuyer doesn't have to be a first-time homebuyer to qualify. Contact Us Program Bulletins are intended for mortgage professionals only. According to a study by Zillow, 67.9% of renters cite saving for a down payment as the largest barrier to buying a home. Join us for Part II of a five-part series with Golden State Finance Authority. California’s Golden State Finance Authority (GSFA) created the Platinum Program, which provides low-to-moderate income California homebuyers with down payment and/or closing cost assistance to help them achieve their goals of purchasing a home. Attempt paying more than what you’re expected to pay every … GSFA OpenDoors™ Lender Participant Guide. Homebuyers interested in the GSFA OpenDoors Program will want to Contact Us for a referral to a GSFA OpenDoors Participating Lender for more information and/or a program application. The GSFA Platinum Program has certain requirements that all applicants must meet to be considered eligible for assistance. GSFA Single-Family Housing - Bulletin #20-21 GSFA Platinum Update. jQuery(document).bind('gform_post_render', function(event, formId, currentPage){if(formId == 2) {jQuery('#input_2_4').mask('(999) 999-9999').bind('keypress', function(e){if(e.which == 13){jQuery(this).blur();} } );} } );jQuery(document).bind('gform_post_conditional_logic', function(event, formId, fields, isInit){} ); jQuery(document).ready(function(){jQuery(document).trigger('gform_post_render', [2, 1]) } ); While there are those who understand the real-estate market well, others see it as a…, Many new homeowners are bombarded with advertisements for various home care services. Should you have further questions about the above documents, loan program specifics, participation requirements, etc., please Contact Us directly at (855) 740-8422 or email The program offers home buyers the option of funds in the form of a second mortgage or a gift, depending on eligibility. Top Searched Posts Most Searched Fixed Gic Rate, Payoff Mortgage Early, Good Credit, Mortgage Bankers and Fontana Wholesale Mortgage Lenders local Fresno area. By downloading and using the templates below, you certify that you are a GSFA OpenDoors Participating Lender and agree to abide by the GSFA Marketing Guidelines. The GSFA Platinum “Select” program allows borrowers to take advantage of down-payment assistance with a non-repayable gift instead of a second mortgage. The following is an update to the Servicing Release Premium for all GSFA Platinum loan reservations made on or after October 12, 2020. The Platinum Grant FHA loan limit is capped at the FHA county loan limit or $424,100, which ever is lower. For additional information, contact NHF Customer Service at (866) 643-4968 or email info@nhfloan.org: Message Center . 6 Amazing Reasons to use Down Payment Assistance. Arguably the best down payment assistance option in California is the GSFA Platinum down payment assistance program. 05/08/2017 11 SCENARIO 30-year fixed rate mortgage loan. Many other programs offer a second with deferred payment or at a small interest rate, making GSFA a clear winner. 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 . The literature is available for download in PDF format for ease of printing. Pre-registration is strongly recommended, as space is limited. HFC is a privately held independent mortgage banking firm, founded in 1992. Homebuyers interested in the GSFA OpenDoors Program will want to Contact Us for a referral to a GSFA OpenDoors Participating Lender for more information and/or a program application.. Click tabs below to display topic contents. Lender Bulletins are intended for mortgage professionals only. /* Munged addy code - YOU CAN EDIT COMMENT THIS TAG BETWEEN THE TWO STARS */ Extension Policy: Loans under the GSFA program are not eligible for MWF’s re-lock and extension policies. GSFA Platinum Grant | Borrower Requirements . There are many advantages specific to the GSFA platinum program such as: Most borrowers who apply for this program are eligible to borrow funds in the form of a second mortgage. # Days for Rate Lock: Locks are available for 30 days. What would be better to go with? GSFA Platinum Program. 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 2.875% … The GSFA Platinum Grant is an ongoing program with no specific end date and may be discontinued at anytime. Welcome: Questions concerning logins? GSFA Platinum does not have any program assets requirements. /* Munged addy code - YOU CAN EDIT COMMENT THIS TAG BETWEEN THE TWO STARS */ While we are more than happy to answer questions, GSFA does not directly take nor process mortgage loan applications. Information in this Participant Guide is intended for mortgage professionals only. Fontana Wholesale Mortgage Lenders, GSFA Platinum Grant Program. Our mortgage advisors are standing by. Setup as a GSFA OpenDoors Participating Lender is a 2-step process, as follows: Please Contact GSFA for assistance with this step. Single-Family Program Updates (Bulletins). Eligible for FHA, VA, USDA, and Conventional financing. Lender Bulletins are intended for mortgage professionals only. otItkcZThoFwUhF(); Wouldn’t it be Great if Someone Paid for Your Down Payment. Phone*Comments The Platinum Program grant can be combined with FHA, VA, USDA and Conventional financing GSFA Platinum Program Update for Lenders https://conta.cc/35IiiPs # dpa # gsfaplatinum # lending. Any home being purchased under the program must serve as the applicant’s primary residence; the program is designed to help individuals purchase homes, not investment properties. Guide to GSFA Platinum Down Payment Assistance Program - PDF; Guide to GSFA MCC Tax Credit Program - PDF; Guide to GSFA OpenDoors Down Payment Assistance Program; Program Training for Lenders and REALTORS® Co-brand with GSFA to increase your REALTORS® business; Contact GSFA about Programs: Client Relations Department, Golden State Finance Authority, [email … NPRA Documentation Requirements for USCIA or Visa documentation. With the results, you will be empowered when speaking to a Lender in knowing that you are in fact eligible for the programs. What’s A Reverse Home Loan And How Do They Work? Some of these requirements include: Before applying for a home loan, give us a call to see if you qualify for the GSFA platinum program. Check the GSFA-approved lender database. The Program Term Sheets for GSFA Platinum have been updated and are available online in the GSFA Platinum Lender Participation Guide. Select borrowers such as law enforcement and teachers are eligible to receive funds in the form of a gift. GSFA Platinum Grant Program. Request a free personalized rate quote. If minimum FICO is ever lowered, FICO <660, 1 month reserves.