... Sacramento County and many more in the Northern California and Southern California area. Use of this Web site constitutes acceptance of our Terms of Use. GSFA OpenDoors is designed to provide up to 7% in down payment and/or closing cost assistance in conjunction with FHA, VA, USDA and Conventional financing. 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. Program Training for Lenders and REALTORS®. Single-Family Program Updates (Bulletins). The Program features some enhancements to credit score requirements, debt-to-income ratios and pricing. Both new and existing homebuyers can receive Down Payment Assistance of up to 6.5% of the mortgage amount with up to 4% as a gift that never has to be repaid! Golden State Finance Authority provides the GSFA OpenDoors down payment assistance (DPA) program to help California homebuyers purchase a home with little-to-no money out of pocket. GSFA has helped more than 78,400 individuals and families in California to purchase homes, providing more than $569.7 million in down payment assistance. Please note: If you need to download the most recent version of Acrobat Reader, you may do so by clicking on the "Get Acrobat Reader" button displayed below. Programs like these can be coupled with seller paid closing costs and the MCC program. In the unpredictable situation we are currently experiencing in the mortgage market, both interest rates and the ability to offer some products are being impacted. (Due to COVID-19 program is currently on hold) COVID Legal Documents Forms, guides and other legal materials that may be used due to the spread of the Covid-19 strain of the coronavirus. Information in this Participant Guide is intended for mortgage professionals only. CAHEC offers the Open Doors Homeownership Grant to nonprofit organizations, with tax-exempt status under section 501(c)(3) of the Internal Revenue Code, engaged in developing … Reservations for this program are available Monday through Friday between 9:00 AM PST and 4:00 PM PST (holidays excluded). California offers many Down Payment Assistance Home Loan Purchase Programs: Looking to purchase a home as a first time home buyer (has not owned or been on title of a home in the past 36 months is defined as a first time homebuyer) and needing a little help with the down payment of closing cost, explore the many types of down payment assistance home loan programs available in California. Loans made or arranged pursuant to a California Residential Mortgage Lending Act License. The Open Doors Program is designed to assist eligible first-time homebuyers with the purchase of an affordable home in the City of Phoenix. Help potential buyers open the door to home-ownership by searching from over 400 available down payment assistance programs throughout California. UP TO $15,000 IN HOME LOAN DOWN PAYMENT ASSISTANCE. CalHFA MyHome Assistance Program – The MyHome Assistance programs provides $10,000 or 3% to 3.5% of the sales price or appraised value, whichever is less in down payment and closing cost assistance to first time homebuyers in California. Financial assistance up to 7%, to use for down payment and/or closing costs, Homebuyer doesn’t have to be a first-time homebuyer to qualify, Flexible income limits (low-to-moderate income), Various first mortgage loan types available to fit the needs of the homebuyer, Up to 6% of the First Mortgage Loan amount, Maximum debt-to-income ratio requirement 55%, Borrowers may have ownership interest in other properties at time of closing, Up to 7% of the First Mortgage Loan amount, Approved homebuyer education required for first time home buyers. 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 All rights reserved. In addition, GSFA has provided financing for more than 35,250 residential or commercial energy efficiency projects in California. Open Doors Homeownership Grant. Down Payment Assistance We know your biggest obstacle to a home purchase can be the required minimum down payment so DC Open Doors offers down payment assistance loans (DPAL) that bridge the financial gap between the purchase price of your home and your first trust mortgage loan. Compare this to a conventional mortgage, which typically requires a 20% down payment, and you can understand why so many homebuyers take advantage of the program. My-Down Payment Assistance is California’s most trusted name for down payment assistance programs. Until the markets find their new normal the situation is a fluid, day-to-day determination. Setup as a GSFA OpenDoors Participating Lender is a 2-step process, as follows: Please Contact GSFA for assistance with this step. Co-brand with GSFA to increase your REALTORS® business. These funds come in the form of a loan with 3 percent simple interest per year, accrued annually. The program provides down payment and closing cost assistance in the form of interest-free loans to qualified applicants for the purchase of their primary residence, to include single-family houses, condominiums, or cooperative units. Fill out the form below to be contacted by a participating lender: This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. The GSFA OpenDoors Program helps low-to-moderate income homebuyers in California purchase a home by providing down payment and/or closing cost assistance (DPA), up to 7% of the First Mortgage Loan amount. The Open Doors Homeownership Program provides up to $15,000 to assist first … A few Popular CA Loan Options are CalHFA, OpenDoors GSFA, conventional loans, etc. The GSFA OpenDoors Program helps low-to-moderate income homebuyers in California purchase a home by providing down payment and/or closing cost assistance (DPA), up to 7% of the First Mortgage Loan amount. Applications for CAHEC’s 2020 Open Doors Homeownership Grant are no longer being accepted. Down Payment and Closing Cost Assistance Overview Low-income, first-time homebuyers may qualify for a low-interest, deferred payment loan of up to 17% of the purchase price for down payment assistance and 4%, up to $10,000 in closing costs assistance. The GSFA OpenDoors Program helps low-to-moderate income homebuyers in California purchase a home by providing down payment and/or closing cost assistance (DPA), up to … |    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, December 23, 2020 | 2:00 PM - 3:00 PM PST, Tuesday, December 29, 2020 | 10:00 AM - 11:00 AM PST, Thursday, January 7, 2021 | 10:00 AM - 11:00 AM PST, Tuesday, January 12, 2021 | 2:00 PM - 3:00 PM PST, Wednesday, January 20, 2021 | 10:00 AM - 11:00 AM PST, Thursday, January 28, 2021 | 2:00 PM - 3:00 PM PST. Other resources for first time home buyers in Roseville CA searching on how to get down payment assistance in Roseville California. California Housing Finance Agency (CalHFA) - homebuyer programs, including downpayment and closing cost assistance, and foreclosure prevention resources CalVet Home Loans - for Veterans to buy a home in California; Community contacts - find out if your community offers homeownership assistance; Habitat for Humanity - through volunteer labor, builds and rehabilitates houses for … The Open Doors Program provides homebuyers in California with flexible down payment assistance options. • Save completed Registration Form in pdf format and upload into GEMS as a stored document under your first lien loan number. USDA, Conventional: MyHome offers a deferred-payment junior loan of an amount up to the lesser of 3% of the purchase price or appraised value to assist with down payment and/or closing … The GSFA OpenDoors Program (Open Doors Program) provides homebuyers in California down payment assistance (DPA). (If your FICO® credit score is below 580, that minimum could rise as high as 10%.) /* Munged addy code - YOU CAN EDIT COMMENT THIS TAG BETWEEN THE TWO STARS */ Programs are available for purchase or refinance of a primary residence anywhere in California and there is no first-time homebuyer requirement to qualify. . Licensed by the Department of Business Oversight under the California Financing Law, NMLS #2289. We specialize in first time home buyer down payment assistance and closing cost programs. GSFA provides down payment assistance (DPA) programs to help California homebuyers purchase a home with little-to-no money out of pocket. SACRAMENTO, Calif., Dec. 18, 2020 /PRNewswire-PRWeb/ -- My-Down Payment Assistance, a top provider of down payment assistance programs based in Sacramento, California… Moreover, the entity has provided more than $859 million in down payment assistance and has participated in the financing of over $13.7 million in first and second mortgages. 3 CA Loan Officer Jason Whigham will Call / text you to go over your CA down payment assistance options The GSFA Platinum program is currently offline. Any DPA provided as a Gift, does not have to be repaid. Fill out the form below to find out what options are available today. . Guide to GSFA OpenDoors Down Payment Assistance Program. Resources for this video Open Doors Homeownership Program This program is temporarily unavailable. GSFA OpenDoors™ — Down Payment Assistance Program A New Homeownership Program from GSFA, featuring up to 7% in down payment assistance GSFA OpenDoors™ Lender Participant Guide Information in this Participant Guide is intended for mortgage professionals only. 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. FHA: MyHome offers a deferred-payment junior loan of an amount up to the lesser of 3.5% of the purchase price or appraised value to assist with down payment and/or closing costs, with a cap of $10,000. Learn More About CA Open Doors GSFA Program Down Payment Assistance Program From it's Official Website: Income limitations and debt ratio limitations apply. what is down payment assistance? Click Here to Register for any of the following: The marketing literature provided below is for use by Participating Lenders ONLY. otItkcZThoFwUhF(); completes the GSFA Open Doors Registration Form on our website. Golden State Finance Authority provides the GSFA OpenDoors down payment assistance (DPA) program to help California homebuyers purchase a home with little-to-no money out of pocket. Eligible applicants must meet qualifying requirements for a CalHFA loan program. The templates are intentionally designed with blank input fields for the Participating Lender to add company and contact information before printing. //--> Home buyers must also occupy the purchased home as their primary residence. The CalHome Program provides applicants up to 17 percent of the total property price for down payment assistance, and 4 percent (up to $10,000) in closing costs assistance. Pre-registration is strongly recommended, as space is limited. The Deferred DPA Second Loan has a 30-year term and a zero percent note rate. DC Open Doors (DCOD) is your key to homeownership in the city. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, License No 41DBO-78367. The literature is available for download in PDF format for ease of printing. The Riverside Down Payment Assistance Program is awarded to applicants in the form of an interest-free, 30-year deferred loan of up to $50,000, or 25% of the sales price, whichever is less. /* Munged addy code - YOU CAN EDIT COMMENT THIS TAG BETWEEN THE TWO STARS */