GSFA Platinum Conventional

The program is a grant which may be used for down payment or closing cost assistance. This is a grant with no repayment required. Grant options goes from 3-4-5%  from the first loan amount.


Income Limits Apply

Income Limits Apply

Credit score: 640 minimum
Property type: SFR, PUD, Condo
Occupancy: Primary residence
Down Payment: no minimum borrower contribution required
Loan to Value: 97%  CLTV:   105%
Gift Funds Allowed. No minimum buyer contribution.
Closing cost: Seller and/or lender can pay up to 6%
Debt Ratio: 45%
Income limits:  Income Limits Apply


Additional Notes:

  • Condos must be Freddie Mac approved
  • Can be combined w/ affordable seconds
  • Impounds are not optional
  • Bankruptcy 4 yrs, Foreclosure 7 yrs, Short Sale 4 yrs
  • First time buyer not required. Must be primary residence
  • Homebuyer Education is required
  • Manufactured homes require 660 credit score
  • Mortgage reserves are not required
  • Up to 5% combined assistance

This page contains program highlights only. See sidebar links for further information and details.


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