GSFA Platinum Grant –

Golden State Finance Authority

California Grants

California Grants

The GSFA Platinum program is a grant offered to California residents to help with the funds needed to purchase a new primary residence.

GSFA Platinum made easy/ Frequently asked questions:

  • What is a GRANT:  A grant is an allocated amount of funds offered by a sponsor that does not need to be re-payed.
  • Who is Eligible:  Any California resident that qualifies to purchase a qualified owner occupied property in CA.  Does NOT need to be a first time home buyer.
  • Does it need to be re-payed:  No this is a true grant and there is no repayment required.
  • What properties qualify: Owner occupied, single family residences.  Agency approved condominiums and Planned unit developments (PUDS) up to 4 units.
  • What properties do Not qualifyInvestment properties, vacation or second homes and Modular Homes
  • Are there income limits:  Yes there are different income limits for conventional, FHA, VA and USDA programs – contact Colleen Craig for more information.
  • What programs can the grant be used with: Conventional, FHA, VA and USDA
  • How much is the grant:  UP to 5% of the first mortgage loan amount. Subject to change at any time.
  • What is the maximum loan amount: The lesser of 424,100 or maximum loan amounts permitted by county per HUD/Fannie Mae for 1 Unit.  Higher for multiple units. 

 

This program is being Sponsored by the Golden State Finance Authority and manged by the National Home buyers Fund (NHF)

By Colleen Craig

 

 

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