It seems that more and more people that I meet don't have enough money saved up for a down payment. And the need for a program like the GSFA Down Payment Assistance Program is greatly needed program for a lot of people here in Southern California, especially since the cost of rent is rapidly rising, making it more challenging than ever to save.
So I decided to share this once again, for those who may find this information useful and valuable.
- It provides a grant of up to 5% for the down payment/ closing costs, and no re payment until the home is sold.
- Can be used for SFR (Single Family Residence), Condos and Multiple Family Financing
- Not limited to First time home buyers
- FICO score requirement is 640 and up
- Loan Amounts up to $417,700 both in LA and Orange County
- Non Repayable Grant up to 5% For Down payment/ closing costs
- Can be used with a Mortgage Credit Certificate
- Income Limits up to $95,060 in LA County
- Up to $98,785 in Orange County
- Low monthly Mortgage Insurance
- Energy Efficient Financing available
- Competitive Rates
- Primary residence only
I also have access to another great Down Payment assistance program, the Cal HFA . This goes up to a total loan amount of $600,000 , and can provid a down payment of up to 5% and an additional 3% for Closing Costs.
These are two great loans available and are fantasic ways of helping someone become a homeowner.
For more information call or text me @ (818) 263-7467
*For Low and No Payment programs qualifying or other factors or restrictions may apply
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act