Household or non-borrower income is not counted part of the equation. California home buyers have many options to choose from. Look up by County of Property; Single-Family Program Updates (Bulletins) What can the GSFA OpenDoors Program do for Homebuyers? Prior Day Rates: (Note: Rates subject to change without notice) Reservations for this program are available Monday through Friday between 9:00 AM PST and 4:00 PM PST (holidays excluded). For more information about the GSFA Platinum Program please contact a Granville Sales Agent, or visit the GSFA website. FHA Loan Guidelines; FHA Loan Limits ... (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. 2020 FHA Loan Limits. GSFA_GOVERNMENTFHA SELECT– 1.23.2020 PAGE 2 OF 9 GSFA PLATINUM SELECT PROGRAM FHA GUIDELINES SUMMARY Equal Housing Opportunity Lender. Example: On a $300,000 Mortgage Loan, the OpenDoors Program can provide DPA up to $21,000. Qualifying income is calculated is for the borrower on the loan only. Additionally, GSFA’s Subsidy Promotion for lower AMI (Area Median Income) borrowers will end on February 7, 2020. In Alameda and Contra Costa, the limit is $208,800, while in Marin, San Mateo, and San Francisco, the limit is $236,800. Income limit is the same regardless if there is 1 person in the household or 8. Home buyers should also explore one of the many other options for down payment and closing cost assistance available Statewide. 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 CalHFA Platinum Grant offers up to 5% to be used towards borrower-paid mortgage insurance and/or closing costs. This financing is designed to assist you in selecting the loan program that most closely suits your budget. First Time Home Buyers. GSFA Second Loan Disclosure — New 07/23/19 . Credit Score and DTI Ratio. GSFA Platinum Grant Income Limits. In San Diego County, for example, the income limit for FHA and VA borrowers is $91,195. GSFA OpenDoors Term Sheet - FHA, VA, USDA Loans - (Gateway Mortgage Group) — Updated 09/01/2020; GSFA OpenDoors Term Sheet - Conventional Loans - (Gateway Mortgage Group) — Updated 05/14/2020 . You can check income limits for all California counties on the GSFA Income Limits page. Program Income Limits. No income limits apply until July 12,2020. Mortgage Calculators. FHA Down Payment Grants for 2020 Down Payment Assistance Programs for Homebuyers. The highest limit is in Santa Clara county, where citizens earning $250,000 a year are still eligible for the Platinum Program. San Diego Down Payment Assistance Program 2020 | 2021 including - the minimum credit score needed, max income allowed, needed documents to qualify, max debt to income ratios, and more! Lastly, there will be separate pricing and income limit changes for GSFA Platinum Conventional beginning February 10, 2020: Please ensure any Platinum loans for Subsidy Promotion borrowers are locked prior to end of day, February 7th. Income limits for targeted areas are the same as the standard Platinum income limits. See Platinum Income Limits. The Platinum income limit varies based on the type of loan program being used and by county. All borrowers must have a FICO score of at least 640 to participate. The following down payment assistance programs and/or grants were researched by the team at FHA.com. Forms. Income Limits for GSFA Affordable Subsidy Also Updated. *Information shown is accurate as of 01/08/2020. 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