CHF Platinum Grant – Now GSFA Platinum Grant

Program Overview

CHF Platinum Grant / GSFA Platinum Grant

GSFA Platinum Grant Options

  • Up to 5% Grant Available with FHA/VA
  • Up to 3% Grant Available with Freddie Mac Conventional First/USDA

GSFA Platinum Refinance Options

Grant up to 5% of the First Mortgage amount available to be used towards borrower-paid  mortgage insurance and/or closing costs.

  • 30 year term only
  • Minimum 3% equity required
  • Income Limits apply - Freddie Mac Income Limits
  • No cash out
  • Full documentation only

GSFA Platinum Grant | Loan Terms

  • FHA 30 Year Fixed Mortgage Only
  • VA 30 Year Fixed Mortgage Only
  • USDA 30 Year Fixed Mortgage Only
  • Freddie Mac Conventional 30 Year Fixed Mortgage Only
  • No Payments Required | Not Paid Back

GSFA Platinum Grant | Property Requirements

  • Single Family Residence Only
  • Owner Occupied Purchase Only
  • Owner Occupied No Cash Out Refinance Only
  • No Condominiums or Manufactured homes with Freddie Mac Conventional

GSFA Platinum Grant | Loan Limits

GSFA Platinum Grant loan limits for all first mortgage programs is $424,100

GSFA Platinum Grant | Program End Date

The GSFA Platinum Grant is an ongoing program with no specific end date and may be discontinued at anytime.  Currently the program is perpetually funded and should be around for a while.

GSFA Platinum Grant | Borrower Requirements

  • Owner Occupied only – must be borrowers primary residence
  • NO First Time Homebuyer Requirement - Cannot own any other homes
  • Maximum Debt to Income 45% with FICO Scores between 640-659 (FHA/VA/USDA)
  • Maximum Debt to Income 50% with FICO Scores 660 and greater (FHA/VA/USDA)
  • Maximum Debt to Income 45% with Freddie Mac Conventional first mortgage
  • Income Limits based on County - Click for income limits

The Golden State Finance Authority is a duly constituted public entity and agency.

Available Statewide Assistance Programs

If funds are no longer available, or you are unable to meet the qualifications for this assistance program, there are other options that may be available to you.

California home buyers should also explore Mortgage Credit Certificates, CRA Programs, Lender/Agent Credits or other creative down payment and closing cost assistance options.

Ask a Mortgage Expert Near You