Learn More About California Open Doors GSFA Program and California Platinum Program by Golden State FinanDown Payment Assistance Program From it's Official Website: CALL OR TEXT JASON WHIGHAM NOW TO GET PRE-APPROVAL LETTER WITHIN 24 HOURS, CALL OR TEXT JENIFER NOW TO GET A LIST OF HOMES TO VIEW. Down payment assistance programs can be administered by a local or state housing authority, a nonprofit organization or directly through your lender. San Bernardino Home Ownership Assistance Program is offered by the Dept. California’s Golden State Finance Authority (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. Up to $15,000 in down payment funds provided at a 3:1 match and FULLY FORGIVEN after 5 years. Eligible in all 58 counties in California and do not have to be first time homebuyers. Housing Trust Silicon Valley - The Housing Trust Silicon Valley offers down payment assistance programs for low- and moderate-income first-time homebuyers. BBVA will also provide up to $4,500 in lender credit help pay closing costs. The lender provides a 2% grant and buyer only needs 1% of their own funds. Homebuyers can use the money to cover their down payment or closing costs. These programs also tend to take 60+ days to close escrow so consider that when deciding to use this program. Speed matters. And though their down payment assistance is not hefty as the LIFT program, the state agency has higher assistance rates specifically for teachers, firefighters and veterans. Homeloanartist.com, & Brad Yzermans are not affiliated with or representing FHA, VA, CalHFA, USDA, FNMA or any other government agency. Chenoa Fund Downpayment Assistance – Chenoa Fund offers the Chenoa Edge and Chenoa Advantage, both of which provide 3.5% of the sales price to meet the minimum down payment when using an FHA loan. Most people, including real estate agents and lenders, are shocked when I tell them there are more than 260 fully funded homebuyer assistance programs in California. This type of assistance is often called a second or subordinate loan. Guess what…37% of the programs DO NOT require you be a first time home buyer! The biggest problem with this program is borrowers cannot exceed 80% of the published HUD AMI limit….which is like $49,700 for a family of 4 in Riverside County. Paying less taxes means you have more income that can be dedicated to paying your mortgage and can even help you qualify for a larger home loan! California Down Payment Assistance Programs. This program must be combined with a CalHFA first mortgage loan. There are no income limits. Property must be inspected by the city, which often asks for many repairs to be made…..many sellers do not like that and will not accept any offer from a buyer using this program. Fair Housing Council of Riverside County: (800) 655-1812. The assistance comes in the form of a 5-year deferred loan forgiven at 20% per year as long as the buyer owner occupies the property. GRANTS up to $6,000. Home buyers must also occupy the purchased home as their primary residence. Dream Makers Grant – Homebuyer assistance grant that can be applied towards down payment or closing costs. All you have to do is not exceed the programs income limit (if it has one) and have a credit score of at least 600, you are most likely eligible for some kind of assistance! MIP • Choose an optional grant - forgiven at closing, no lien (approx 1-4.5% of the 1st mortgage total loan amount) Easily renew your real estate license with the FREE 45 hour online license renewal package from C.A.R. Patriot Pacific Financial Corp & Brad Yzermans are licensed to lend in California. The California Down Payment Resource Directory is a powerful search tool that identifies current down payment assistance programs in communities throughout California. WISH. Borrowers do not have to first time buyers and can even own other properties. We specialize in downpayment assistance programs throughout all of California. Closing cost assistance to a lender who qualifies you for the new.... ’ it becomes 20 % for your down payment assistance programs for eligible buyers... Using Conventional financing for buyers with low to moderate income or National Guard time. Program using Conventional financing for low income wage earners suits you best, County, state, or National first... – homebuyer assistance grant – nhf provides up to $ 60,000 for first-time. There are millions of dollars available to cover down payment assistance but all! 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