2020 FHA Loan Limits. 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. FHA Down Payment Grants for 2020 Down Payment Assistance Programs for Homebuyers. Additionally, GSFA’s Subsidy Promotion for lower AMI (Area Median Income) borrowers will end on February 7, 2020. Home buyers should also explore one of the many other options for down payment and closing cost assistance available Statewide. *Information shown is accurate as of 01/08/2020. In San Diego County, for example, the income limit for FHA and VA borrowers is $91,195. 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. What can the GSFA OpenDoors Program do for Homebuyers? Prior Day Rates: (Note: Rates subject to change without notice) The income limit for conventional borrowers is $117,600. For more information about the GSFA Platinum Program please contact a Granville Sales Agent, or visit the GSFA website. Note: GSFA Paid MI option will not increase the loan limit of $450,000 in 2018 (MGIC overlay). Please note that all information is provided for informational purposes only, for the exclusive use of licensed mortgage professionals, and not for distribution to the public. Income limits for targeted areas are the same as the standard Platinum income limits. See Platinum Income Limits. 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 . The Platinum income limit varies based on the type of loan program being used and by county. Qualifying income is calculated is for the borrower on the loan only. Income Limits for GSFA Affordable Subsidy Also Updated. GSFA Second Loan Disclosure — New 07/23/19 . 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! The GSFA Platinum program is currently offline. The following down payment assistance programs and/or grants were researched by the team at FHA.com. GSFA_GOVERNMENTFHA SELECT– 1.23.2020 PAGE 2 OF 9 GSFA PLATINUM SELECT PROGRAM FHA GUIDELINES SUMMARY Equal Housing Opportunity Lender. Credit Score and DTI Ratio. Reservations for this program are available Monday through Friday between 9:00 AM PST and 4:00 PM PST (holidays excluded). Please ensure any Platinum loans for Subsidy Promotion borrowers are locked prior to end of day, February 7th. Household or non-borrower income is not counted part of the equation. The highest limit is in Santa Clara county, where citizens earning $250,000 a year are still eligible for the Platinum Program. Income limit is the same regardless if there is 1 person in the household or 8. Mortgage Calculators. You can check income limits for all California counties on the GSFA Income Limits page. First Time Home Buyers. No income limits apply until July 12,2020. Program Income Limits. Example: On a $300,000 Mortgage Loan, the OpenDoors Program can provide DPA up to $21,000. California home buyers have many options to choose from. 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